This week, Intersect submitted a Budget Info Action to the Cardano community. It proposes an aggregate budget of ₳275,269,340 to fund a set of ecosystem initiatives over a 12-month period. The number is significant, but it represents more than a funding request. It reflects the outcome of a structured, community-driven process that involved public input, delegated representative (DRep) voting, and alignment with the roadmap approved earlier this year. To understand how to interpret this proposal, it’s important to unpack what it represents, how it works, and what comes next.

This Budget Info Action was not created in isolation. It is the result of a coordinated submission process that ran from early April to early May. During that time, 194 proposals were submitted, reviewed, and made available for DReps to signal support through the Ekklesia platform. Over ₳3.8 billion in live stake participated. Of those proposals, 39 reached the required threshold of over 50 percent DRep approval and named Intersect as their administrator. These proposals now make up the contents of this on-chain submission. In short, this budget is not a wishlist. It is a reflection of what DReps have already backed through a transparent and verifiable process.

Getting it on-chain

The omnibus format was chosen for this cycle because it helped preserve the integrity of the DRep signal that closed on May 5, 2025 while keeping the governance process manageable. Additionally, submitting each proposal separately would have required dozens of individual votes, increasing the operational burden on DReps and the interim Constitutional Committee. That said, there are trade-offs. A single vote at this stage means less granularity, and it places a higher coordination load on us as an Administrator. 

We recognise that this approach may not be ideal in the long term. If the community prefers a more modular or individual submission model in future, that can be adopted. Following this budget cycle, we will be running a full retrospective with members and the wider community to evaluate what worked, what didn’t, and how the process can be improved. This will form the foundation for rebuilding a clearer and more effective model for future funding rounds, including rethinking how much coordination is needed in building a budget, and what role different actors in the ecosystem should play.

For now, this format provides a practical way to respect the outcomes of the signaling process and maintain forward momentum. If this Budget Info Action is rejected, it will offer a clear, on-chain expression of community preference and give us the concrete data we need to adapt. Without submitting it, we would be relying on assumptions and informal sentiment instead of engaging the governance process as designed.

What this budget could deliver for Cardano

If approved, this budget could enable meaningful progress across many areas of the ecosystem over the next 12 months. The 39 proposals included reflect a range of community priorities, from technical infrastructure and governance to developer tools and ecosystem growth.

Some of the key outcomes include:

• Continued core development and research from Input Output, including engineering work on the Cardano node, governance features, and projects aligned with the Cardano Vision

• Funding for the Catalyst program to support innovation and experimentation in treasury allocation

• Maintenance and development of critical open source tooling, including Lucid, PyCardano, OpShin, Blockfrost, and MLabs-led initiatives

• Strengthening of governance infrastructure through tools for DReps, funding mechanisms like quadratic voting, and structured community input on the roadmap

• Expanded ecosystem visibility through the 2025 Cardano Summit, global exhibitions, regional events, and foundational marketing efforts

• Investment in emerging technologies such as rollups, zero-knowledge systems, new wallet infrastructure, and bridges that support future scalability and interoperability

This is not a budget tied to a single deliverable. It is a reflection of what the community, through DReps, has already signaled as important for Cardano's continued growth and resilience.

Developing our role as an Administrator

Intersect has been requested to act as the Administrator for the 39 proposals included in this budget. This role involves completing due diligence, entering into agreements where applicable, and overseeing the responsible release of funds in line with the terms set out in each proposal. Not all proposals use milestone-based payment structures, but all are subject to oversight. Contracts and disbursement terms will vary depending on the nature of the work, but in all cases, they are designed to balance flexibility with accountability. 

A new public dashboard is also being developed by Xerberus to track delivery status, spending, and performance updates for each funded proposal.

Disbursing funds requires additional approval

The budget info action does not release any funds. It only authorises the proposals for inclusion in an official budget. Any actual movement of funds will require a second step through treasury withdrawal governance actions. Each of these must receive more than 67 percent approval from active delegated DRep stake, stay within the active net change limit, pass due diligence including KYC/KYB and AML checks where applicable, and be tied to a signed agreement with the delivery organisation. 

Wherever possible and available, smart contract-based escrow mechanisms (developed by Sundae Labs) will be used to manage disbursements, with oversight from Intersect and independent auditors. Funds can be paused or returned to the Cardano Treasury if contractual obligations are not met.

If the vote passes, treasury withdrawals will still need to be approved individually, requiring a higher threshold to actually move funds from the Cardano Treasury. If the vote fails, we return to the community to consider alternatives. Either way, the process moves forward. This is a moment for the community to evaluate the work it has already done and decide whether to carry it forward through the next stage of governance.

FAQs

For those looking for further clarity, we’ve also compiled a list of frequently asked questions covering key aspects of this proposal, including how funding works, how risk is managed, and what happens next. 

Review and vote on the Budget Info Action in full via Gov.Tools