
We are pleased to share that EMURGO expresses support for the 39 individual withdrawal proposals as a board member.

We believe this is a critical moment to demonstrate that Cardano's governance is truly functioning not only across our ecosystem but also to the broader blockchain community, and we are encouraged by the unanimous decision that was reached.

In the Ekklesia vote, we supported the option of “Two support brackets with two withdrawals each.” Due to the low participation rate in the Ekklesia poll, we held the view that individual withdrawals would most likely place a heavy administrative burden on Intersect and on more than 90% of DReps who are currently inactive — even though EMURGO itself has the resources to process a large number of governance actions.

Therefore, we focused on two key priorities:

🔹Swiftly approving proposals that had received more than 67% support.
🔹Minimizing the total withdrawal amount for 2025 in line with community expectations.

From this perspective, we determined that the option we chose at the time represented the most reasonable and practical path forward.

Ultimately, we respect the consensus reached by active DReps that the 2025 budget should be reviewed on a proposal-by-proposal basis, and we remain committed to ensuring that essential projects receive timely funding to help advance the ecosystem.


Intersect Board Statement: Treasury Withdrawal Poll Outcome - message from our Chair, Steven Lupien

We want to thank everyone who took the time to engage, share feedback, and help shape this process. This isn’t the first time Cardano’s constitutional budget process has been tested, but it is the first attempt at a large, coordinated approach based, at least in part, on a community-approved roadmap. We’re treading new ground together.

The recent Ekklesia poll saw a slim majority favor submitting 39 individual Treasury Withdrawals. While this result brings complexity and added effort for everyone involved, Intersect will honor it and begin preparations accordingly.

Our role throughout has been to listen and respond, not to impose. The range of views shared reflects just how invested people are in getting this right. The Board supports the Intersect team as they move forward in that spirit, staying pragmatic, collaborative, and transparent.

We also want to acknowledge that this path may be more difficult for some vendors than others. Not every proposal comes from a well-known name. Some offer critical tools or infrastructure that may not yet have broad visibility. These teams now face a second round of individual scrutiny at a higher threshold, and we encourage the community to approach those votes with care.

With the consolidated Budget Info Action currently passing the required thresholds and receiving over 60 percent approval, we’re pleased to press ahead and get funding unlocked at the next stage. Next week, the Intersect team will host open spaces to walk through the smart contract framework that is in the final stages of testing to onboard all 39 proposals under our Administration courtesy of @SundaeSwap and @Xerberus_io.

This process isn’t perfect, and we’re all learning. But by working through it together, openly and with good intent, we can build stronger foundations for how Cardano funds and delivers its future.

In collaboration with the Cardano community and with appreciation for your continued participation,

Steven Lupien

Chair, Intersect Governing Board