{"id":44279,"date":"2025-12-10T06:18:48","date_gmt":"2025-12-09T21:18:48","guid":{"rendered":"https:\/\/sipo.tokyo\/?p=44279"},"modified":"2025-12-10T06:18:49","modified_gmt":"2025-12-09T21:18:49","slug":"post-44279","status":"publish","type":"post","link":"https:\/\/sipo.tokyo\/?p=44279","title":{"rendered":"SIPO DRep\u300cWithdraw \u20b370,000,000 for Cardano Critical Integrations Budget\u300d\u306b\u300cYes\u300d"},"content":{"rendered":"\n<div class=\"dp_toc_container pos-before_first_h allow-toggle\" role=\"navigation\" data-margin=\"30\"><p class=\"toc_title_block\"><span class=\"toc_title icon-list\">INDEX<\/span><span class=\"toc_toggle icon-up-open\" role=\"button\"><\/span><\/p><ul class=\"dp_toc_ul has_title\"><li><a href=\"#e382abe383abe38380e3838ee381aee69caae69da5e38292e5b7a6e58fb3e38199e3828be3808ccritical-integrations-budgete3808d-sipo-drepe381a8e38197-1\">\u30ab\u30eb\u30c0\u30ce\u306e\u672a\u6765\u3092\u5de6\u53f3\u3059\u308b\u300cCritical Integrations Budget\u300d\u2014\u2014SIPO DRep\u3068\u3057\u3066\u306e\u5224\u65ad\u3068\u671f\u5f85<\/a><ul><li><a href=\"#e296a0-e38193e381aee68f90e6a188e3818ce79baee68c87e38197e381a6e38184e3828be38282e381ae-2\">\u25a0 \u3053\u306e\u63d0\u6848\u304c\u76ee\u6307\u3057\u3066\u3044\u308b\u3082\u306e<\/a><\/li><li><a href=\"#e296a0-e381aae3819ce3808ce4bb8ae3808de381aae381aee3818befbc9f-3\">\u25a0 \u306a\u305c\u300c\u4eca\u300d\u306a\u306e\u304b\uff1f<\/a><\/li><li><a href=\"#e296a0-e382ace38390e3838ae383b3e382b9e381a8e9808fe6988ee680a7e381b8e381aee687b8e5bfb5e381afe381a9e38186e3818befbc9f-4\">\u25a0 \u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u900f\u660e\u6027\u3078\u306e\u61f8\u5ff5\u306f\u3069\u3046\u304b\uff1f<\/a><\/li><li><a href=\"#e296a0-sipo-drepe381a8e38197e381a6e381aee7ab8be5a0b4efbc9a-5\">\u25a0 SIPO DRep\u3068\u3057\u3066\u306e\u7acb\u5834\uff1a<\/a><\/li><li><a href=\"#e296a0-e69c80e5be8ce381abefbc9ae382abe383abe38380e3838ee38292e6aca1e381aee38395e382a7e383bce382bae381b8-6\">\u25a0 \u6700\u5f8c\u306b\uff1a\u30ab\u30eb\u30c0\u30ce\u3092\u201c\u6b21\u306e\u30d5\u30a7\u30fc\u30ba\u201d\u3078<\/a><\/li><\/ul><\/li><li><a href=\"#the-critical-integrations-budget-why-sipo-drep-votes-yes-and-what-it-means-for-cardanos-future-7\">The Critical Integrations Budget: Why SIPO DRep Votes Yes \u2014 and What It Means for Cardano\u2019s Future<\/a><ul><li><a href=\"#e296a0-what-this-proposal-is-trying-to-achieve-8\">\u25a0 What This Proposal Is Trying to Achieve<\/a><\/li><li><a href=\"#e296a0-why-now-9\">\u25a0 Why Now?<\/a><\/li><li><a href=\"#e296a0-what-about-governance-risks-10\">\u25a0 What About Governance Risks?<\/a><\/li><li><a href=\"#e296a0-sipos-position-11\">\u25a0 SIPO\u2019s Position:&nbsp;<\/a><\/li><li><a href=\"#e296a0-moving-cardano-into-its-next-phase-12\">\u25a0 Moving Cardano Into Its Next Phase<\/a><\/li><\/ul><\/div><h3 class=\"wp-block-heading deb-block deb-block-e040275\" id=\"e382abe383abe38380e3838ee381aee69caae69da5e38292e5b7a6e58fb3e38199e3828be3808ccritical-integrations-budgete3808d-sipo-drepe381a8e38197-1\"><strong>\u30ab\u30eb\u30c0\u30ce\u306e\u672a\u6765\u3092\u5de6\u53f3\u3059\u308b\u300cCritical Integrations Budget\u300d\u2014\u2014SIPO DRep\u3068\u3057\u3066\u306e\u5224\u65ad\u3068\u671f\u5f85<\/strong><\/h3>\n\n\n\n<p class=\"deb-block deb-block-ddc37ef\">\u4eca\u56de\u306f\u3001\u73fe\u5728\u30ac\u30d0\u30ca\u30f3\u30b9\u6295\u7968\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u5927\u898f\u6a21\u63d0\u6848 <strong>\u300c<a href=\"https:\/\/gov.tools\/connected\/governance_actions\/f8393f1ff814d3d52336a97712361fed933d9ef9e8d0909e1d31536a549fd22f#0\" data-type=\"link\" data-id=\"https:\/\/gov.tools\/connected\/governance_actions\/f8393f1ff814d3d52336a97712361fed933d9ef9e8d0909e1d31536a549fd22f#0\">Cardano Critical Integrations Budget\uff08\u30af\u30ea\u30c6\u30a3\u30ab\u30eb\u7d71\u5408\u4e88\u7b97\uff09<\/a>\u300d<\/strong> \u306b\u3064\u3044\u3066\u3001\u5185\u5bb9\u306e\u89e3\u8aac\u3068\u3001SIPO DRep\u3068\u3057\u3066\u306e\u7acb\u5834\u3092\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-9b19b31\">\u3053\u306e\u63d0\u6848\u306f\u3001\u30ab\u30eb\u30c0\u30ce\u306e\u4eca\u5f8c5\u5e74\u306e\u7af6\u4e89\u529b\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u975e\u5e38\u306b\u91cd\u8981\u306a\u30c6\u30fc\u30de\u3067\u3059\u3002\u79c1\u81ea\u8eab\u3001\u3053\u306e\u63d0\u6848\u3092\u8aad\u307f\u8fbc\u3080\u4e2d\u3067\u3001\u30ab\u30eb\u30c0\u30ce\u304c\u6b21\u306e\u30d5\u30a7\u30fc\u30ba\u3078\u9032\u3080\u305f\u3081\u306e\u201c\u6838\u5fc3\u90e8\u5206\u201d\u304c\u8a70\u307e\u3063\u3066\u3044\u308b\u3068\u5f37\u304f\u611f\u3058\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-ac28e8c\">\u63d0\u6848\u5185\u5bb9\uff1a\u300c<a href=\"https:\/\/gov.tools\/connected\/governance_actions\/f8393f1ff814d3d52336a97712361fed933d9ef9e8d0909e1d31536a549fd22f#0\" data-type=\"link\" data-id=\"https:\/\/gov.tools\/connected\/governance_actions\/f8393f1ff814d3d52336a97712361fed933d9ef9e8d0909e1d31536a549fd22f#0\">Withdraw \u20b370,000,000 for Cardano Critical Integrations Budget<\/a>\u300d<\/p>\n\n\n\n<p class=\"deb-block deb-block-bd261f9\">Governance Action Type:Treasury Withdrawal<br>Submitted:\u00a09th Dec 2025\u00a0(Epoch 599)<br>Expires:\u00a010th Jan 2026\u00a0(Epoch 606)<\/p>\n\n\n\n<p class=\"deb-block deb-block-ea46991\">Governance Action ID:<br><a href=\"https:\/\/sipo.tokyo\/?page_id=44280\" data-type=\"page\" data-id=\"44280\">gov_action1lqun78lcznfa2gek49m3ydslakfnm8heargfp8sax9fk54yl6ghsqp042zv<\/a><\/p>\n\n\n\n<p class=\"deb-block deb-block-e925c6d\">Legacy Governance Action ID (CIP-105):<br><a href=\"https:\/\/sipo.tokyo\/?page_id=44281\" data-type=\"page\" data-id=\"44281\">f8393f1ff814d3d52336a97712361fed933d9ef9e8d0909e1d31536a549fd22f#0<\/a><\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-ca5e9b1\" id=\"e296a0-e38193e381aee68f90e6a188e3818ce79baee68c87e38197e381a6e38184e3828be38282e381ae-2\"><strong>\u25a0 \u3053\u306e\u63d0\u6848\u304c\u76ee\u6307\u3057\u3066\u3044\u308b\u3082\u306e<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-3c38a97\">\u63d0\u6848\u306e\u76ee\u7684\u306f\u30b7\u30f3\u30d7\u30eb\u3067\u3001\u3057\u304b\u3057\u975e\u5e38\u306b\u5927\u304d\u3044\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-15ea64d\">\n<p class=\"deb-block deb-block-14f774d\"><strong>\u30ab\u30eb\u30c0\u30ce\u304c\u672c\u683c\u7684\u306a\u30b0\u30ed\u30fc\u30d0\u30eb\u91d1\u878d\u30fbDeFi\u30fbRWA\u306e\u821e\u53f0\u306b\u53c2\u52a0\u3067\u304d\u308b\u3088\u3046\u3001<\/strong><\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-7ef41d2\">\n<p class=\"deb-block deb-block-db303cc\"><strong>\u5fc5\u8981\u306a\u30a4\u30f3\u30d5\u30e9\u3092\u307e\u3068\u3081\u3066\u6574\u5099\u3059\u308b\u305f\u3081\u306e7,000\u4e07ADA\u306e\u4e88\u7b97\u3092\u78ba\u4fdd\u3059\u308b\u3053\u3068\u3002<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-6c4296b\">\u3053\u3053\u3067\u8a00\u3046\u300c\u30a4\u30f3\u30d5\u30e9\u300d\u3068\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-a5b85a1\">\n<li class=\"\"><strong>\u30c6\u30a3\u30a21\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\uff08USDC\/USDT\u30af\u30e9\u30b9\uff09\u3092\u5c0e\u5165\u3059\u308b\u305f\u3081\u306e\u57fa\u76e4<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u6a5f\u95a2\u6295\u8cc7\u5bb6\u304c\u6c42\u3081\u308b\u4fa1\u683c\u30aa\u30e9\u30af\u30eb\uff08Chainlink\/Pyth\u7d1a\uff09<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u4ed6\u30c1\u30a7\u30fc\u30f3\u3068\u306e\u8cc7\u91d1\u79fb\u52d5\u3092\u53ef\u80fd\u306b\u3059\u308b\u30d6\u30ea\u30c3\u30b8<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u4f01\u696d\u30fb\u6a5f\u95a2\u5411\u3051\u306e\u30ab\u30b9\u30c8\u30c7\u30a3\u3001\u30a6\u30a9\u30ec\u30c3\u30c8\u57fa\u76e4<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u30a2\u30ca\u30ea\u30c6\u30a3\u30af\u30b9\u3068\u30c7\u30fc\u30bf\u53ef\u8996\u5316<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-0e6e487\">\u3069\u308c\u3082\u3001Solana\u30fbEthereum L2\u30fbBase\u30fbAvalanche \u306a\u3069\u4e3b\u8981L1\u3067\u306f\u3059\u3067\u306b\u6a19\u6e96\u5316\u3055\u308c\u3066\u3044\u308b\u30a4\u30f3\u30d5\u30e9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-9857f5b\">\u8a00\u3044\u63db\u3048\u308b\u3068\u3001<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-8c24fbe\">\n<p class=\"deb-block deb-block-1fc9113\"><strong>\u30ab\u30eb\u30c0\u30ce\u304c\u300c\u6280\u8853\u306f\u5f37\u3044\u3051\u3069\u6d41\u52d5\u6027\u304c\u6765\u306a\u3044\u30c1\u30a7\u30fc\u30f3\u300d\u304b\u3089\u8131\u5374\u3059\u308b\u305f\u3081\u306e\u5fc5\u9808\u30d1\u30fc\u30c4<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-75aa208\">\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-231fcd9\">\u3053\u308c\u3089\u304c\u63c3\u3046\u3053\u3068\u3067\u3001\u3088\u3046\u3084\u304f\u30ab\u30eb\u30c0\u30ce\u306f\u672c\u683c\u7684\u306b\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-155da27\">\n<li class=\"\">\u30b0\u30ed\u30fc\u30d0\u30ebDeFi<\/li>\n\n\n\n<li class=\"\">RWA\uff08\u5b9f\u4e16\u754c\u8cc7\u7523\uff09<\/li>\n\n\n\n<li class=\"\">\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u53c2\u5165<\/li>\n\n\n\n<li class=\"\">\u4f01\u696d\u30fb\u516c\u5171\u30e6\u30fc\u30b9\u30b1\u30fc\u30b9<\/li>\n\n\n\n<li class=\"\">\u30af\u30ed\u30b9\u30c1\u30a7\u30fc\u30f3\u7d4c\u6e08\u570f<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b7e71bb\">\u306b\u53c2\u52a0\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-fec1d81\" id=\"e296a0-e381aae3819ce3808ce4bb8ae3808de381aae381aee3818befbc9f-3\"><strong>\u25a0 \u306a\u305c\u300c\u4eca\u300d\u306a\u306e\u304b\uff1f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-096cd88\">\u63d0\u6848\u6587\u3067\u3082\u89e6\u308c\u3089\u308c\u3066\u3044\u308b\u901a\u308a\u3001\u30ab\u30eb\u30c0\u30ce\u306e\u5f37\u307f\u306f\u6280\u8853\u3068\u30ac\u30d0\u30ca\u30f3\u30b9\u306b\u3042\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u73fe\u5b9f\u3068\u3057\u3066\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-74188f0\">\n<li class=\"\">TVL\u306f\u540c\u898f\u6a21\u306eL1\u306b\u6bd4\u3079\u3066\u4f4e\u3044<\/li>\n\n\n\n<li class=\"\">\u5927\u624b\u6a5f\u95a2\u3084\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u304c\u53c2\u5165\u3057\u306b\u304f\u3044<\/li>\n\n\n\n<li class=\"\">\u63a5\u7d9a\u9762\uff08\u30aa\u30e9\u30af\u30eb\u30fb\u30d6\u30ea\u30c3\u30b8\uff09\u304c\u5f31\u3044<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-93ffd4c\">\u3068\u3044\u3046\u8ab2\u984c\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-7301da1\">\u4e00\u65b9\u3067\u3001\u3059\u3067\u306b\u8907\u6570\u306e\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\u306f\u300c\u5b9f\u884c\u53ef\u80fd\u306a\u6bb5\u968e\u300d\u306b\u6765\u3066\u304a\u308a\u3001\u8cc7\u91d1\u304c\u78ba\u4fdd\u3055\u308c\u308c\u3070\u3059\u3050\u306b\u52d5\u3051\u308b\u72b6\u6cc1\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-72609dc\">\u79c1\u3068\u3057\u3066\u306f\u3001\u3053\u308c\u306f<strong>2026\u5e74\u4ee5\u964d\u306eWeb3\u9700\u8981\u5897\u52a0\u306e\u6ce2\u306b\u4e57\u308b\u305f\u3081\u306e\u201c\u52dd\u8ca0\u306e\u30bf\u30a4\u30df\u30f3\u30b0<\/strong>\u201d\u3060\u3068\u611f\u3058\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-732a8e2\" id=\"e296a0-e382ace38390e3838ae383b3e382b9e381a8e9808fe6988ee680a7e381b8e381aee687b8e5bfb5e381afe381a9e38186e3818befbc9f-4\"><strong>\u25a0 \u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u900f\u660e\u6027\u3078\u306e\u61f8\u5ff5\u306f\u3069\u3046\u304b\uff1f<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-bc2b9d5\">\u3082\u3061\u308d\u3093\u3001\u614e\u91cd\u306b\u898b\u308b\u3079\u304d\u70b9\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-2678007\">\n<li class=\"\">NDA\u306b\u3088\u3063\u3066\u8a73\u7d30\u306a\u30d9\u30f3\u30c0\u30fc\u540d\u3084\u8cbb\u7528\u306e\u5185\u8a33\u3092\u516c\u958b\u3067\u304d\u306a\u3044<\/li>\n\n\n\n<li class=\"\">\u30b9\u30c6\u30a2\u30ea\u30f3\u30b0\u59d4\u54e1\u4f1a\u306b\u6a29\u9650\u304c\u96c6\u4e2d\u3057\u3066\u3044\u308b<\/li>\n\n\n\n<li class=\"\">\u7d99\u7d9a\u4e88\u7b97\uff08\u7b2c2\u5f3e\u30fb\u7b2c3\u5f3e\uff09\u306e\u53ef\u80fd\u6027\u304c\u3042\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b69bd01\">\u3064\u307e\u308a\u3001\u300c\u305d\u306e\u307e\u307eYes\u3092\u62bc\u3059\u306e\u306fDRep\u306e\u8cac\u52d9\u3068\u3057\u3066\u8efd\u7387\u3067\u306f\uff1f\u300d\u3068\u3044\u3046\u8996\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-d9e12f5\">\u305f\u3060\u3057\u4eca\u56de\u306e\u63d0\u6848\u306b\u306f\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7354e2f\">\n<li class=\"\">Intersect\u306b\u3088\u308b\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u7ba1\u7406<\/li>\n\n\n\n<li class=\"\">5\u540d\u306e\u72ec\u7acb\u30aa\u30fc\u30d0\u30fc\u30b5\u30a4\u30c8\u59d4\u54e1\u4f1a<\/li>\n\n\n\n<li class=\"\">\u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u30d9\u30fc\u30b9\u306e\u652f\u6255\u3044<\/li>\n\n\n\n<li class=\"\">\u900f\u660e\u6027\u3092\u78ba\u4fdd\u3057\u305f\u30ec\u30dd\u30fc\u30c8<\/li>\n\n\n\n<li class=\"\">\u61b2\u6cd5\u3068\u30ac\u30fc\u30c9\u30ec\u30fc\u30eb\u306b\u6cbf\u3063\u305f\u57f7\u884c\u30d7\u30ed\u30bb\u30b9<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-f82c0c5\">\u304c\u660e\u78ba\u306b\u7d44\u307f\u8fbc\u307e\u308c\u3066\u304a\u308a\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u4e0a\u306e\u5b89\u5168\u6027\u306f\u5341\u5206\u62c5\u4fdd\u3055\u308c\u3066\u3044\u308b\u3068\u5224\u65ad\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-5bdd0cb\" id=\"e296a0-sipo-drepe381a8e38197e381a6e381aee7ab8be5a0b4efbc9a-5\"><strong>\u25a0 SIPO DRep\u3068\u3057\u3066\u306e\u7acb\u5834\uff1a<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-8d36899\"><strong>\u6761\u4ef6\u4ed8\u304d\u8cdb\u6210\uff08Yes\uff09<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-6f9375a\">\u79c1\u304c\u6700\u7d42\u7684\u306b\u51fa\u3057\u305f\u7d50\u8ad6\u306f\u3001\u6b21\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-f6d934b\"><strong>SIPO\u306f\u3053\u306e\u63d0\u6848\u306b\u8cdb\u6210\u7968\uff08Yes\uff09\u3092\u6295\u3058\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-a080e4f\">\u305f\u3060\u3057\u3001\u4ee5\u4e0b\u306e\u6761\u4ef6\u304c\u5b88\u3089\u308c\u308b\u3053\u3068\u3092\u524d\u63d0\u3068\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-595c370\">\n<li class=\"\"><strong>\u5951\u7d04\u7de0\u7d50\u5f8c\u306e\u30d9\u30f3\u30c0\u30fc\u60c5\u5831\u306e\u6bb5\u968e\u7684\u306a\u516c\u958b<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u3068\u652f\u51fa\u30ec\u30dd\u30fc\u30c8\u306e\u7d99\u7d9a\u7684\u306a\u516c\u958b<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u30b9\u30c6\u30a2\u30ea\u30f3\u30b0\u59d4\u54e1\u4f1a\u306e\u610f\u601d\u6c7a\u5b9a\u30d7\u30ed\u30bb\u30b9\u306e\u6982\u8981\u516c\u958b<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u8ffd\u52a0\u4e88\u7b97\u63d0\u6848\u6642\u306b\u306f\u3001\u672c\u4e88\u7b97\u306e\u6210\u679c\u30ec\u30d3\u30e5\u30fc\u3092\u7fa9\u52d9\u5316<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u671f\u9593\u7d42\u4e86\u5f8c\u306e\u672a\u4f7f\u7528\u8cc7\u91d1\u306e\u8fd4\u5374\u3068\u8ca1\u52d9\u30b5\u30de\u30ea\u30fc\u516c\u958b<\/strong><\/li>\n<\/ol>\n\n\n\n<p class=\"deb-block deb-block-e97836b\">\u3053\u308c\u3089\u304c\u3057\u3063\u304b\u308a\u5c65\u884c\u3055\u308c\u308b\u9650\u308a\u3001\u4eca\u56de\u306e\u6295\u8cc7\u306f\u30ab\u30eb\u30c0\u30ce\u306e\u7af6\u4e89\u529b\u3092\u5927\u304d\u304f\u5f15\u304d\u4e0a\u3052\u308b\u3068\u78ba\u4fe1\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-6fc8487\" id=\"e296a0-e69c80e5be8ce381abefbc9ae382abe383abe38380e3838ee38292e6aca1e381aee38395e382a7e383bce382bae381b8-6\"><strong>\u25a0 \u6700\u5f8c\u306b\uff1a\u30ab\u30eb\u30c0\u30ce\u3092\u201c\u6b21\u306e\u30d5\u30a7\u30fc\u30ba\u201d\u3078<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-b2951a2\">\u30ab\u30eb\u30c0\u30ce\u306f\u3001\u4eca\u3088\u3046\u3084\u304f <strong>\u300c\u7406\u5ff5\u3068\u6280\u8853\u300d\u304b\u3089\u300c\u5b9f\u7528\u3068\u7d4c\u6e08\u898f\u6a21\u300d\u3078\u9032\u3080\u6bb5\u968e<\/strong> \u306b\u5dee\u3057\u304b\u304b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-f9891b3\">\u4eca\u56de\u306e\u63d0\u6848\u306f\u3001\u305d\u306e\u5909\u5316\u306e\u4e2d\u3067\u3082\u7279\u306b\u5927\u304d\u306a\u8ee2\u63db\u70b9\u3068\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-97079ad\">SIPO\u306f\u3053\u308c\u3092\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-69c0f89\"><strong>\u30ab\u30eb\u30c0\u30ce\u304c\u672c\u683c\u7684\u306b\u4e16\u754c\u306e\u91d1\u878d\u30ec\u30a4\u30e4\u30fc\u3078\u98db\u3073\u8fbc\u3080\u305f\u3081\u306e\u201c\u571f\u53f0\u3065\u304f\u308a\u201d<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-129ffc1\">\u3060\u3068\u6349\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-afbfbf5\">\u4eca\u5f8c\u3082\u3001\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u3068\u4e00\u7dd2\u306b\u30ab\u30eb\u30c0\u30ce\u306e\u767a\u5c55\u3092\u898b\u5b88\u308a\u3064\u3064\u3001DRep\u3068\u3057\u3066\u8cac\u4efb\u3042\u308b\u5224\u65ad\u3092\u7d9a\u3051\u3066\u3044\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-c683b01\"\/>\n\n\n\n<h4 class=\"wp-block-heading deb-block deb-block-5e71635\" id=\"the-critical-integrations-budget-why-sipo-drep-votes-yes-and-what-it-means-for-cardanos-future-7\"><strong>The Critical Integrations Budget: Why SIPO DRep Votes Yes \u2014 and What It Means for Cardano\u2019s Future<\/strong><\/h4>\n\n\n\n<p class=\"deb-block deb-block-2d9ea6b\">In this article, I\u2019d like to walk through the major governance proposal now under vote \u2014 the <strong>\u201cCardano Critical Integrations Budget\u201d<\/strong> \u2014 and explain why I, as SIPO DRep, decided to vote Yes.<\/p>\n\n\n\n<p class=\"deb-block deb-block-a6cddce\">This proposal is one of the most strategically important funding decisions Cardano has faced so far. After reviewing the details carefully, I believe it marks a turning point in Cardano\u2019s transition from a technically strong blockchain to a fully connected, economically competitive global platform.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-2b9f33e\" id=\"e296a0-what-this-proposal-is-trying-to-achieve-8\"><strong>\u25a0 What This Proposal Is Trying to Achieve<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-3ac2d83\">At its core, the proposal aims to fund the infrastructure that Cardano <em>must<\/em> have to compete in modern Web3.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-bd0c8f2\">\n<p class=\"deb-block deb-block-27d2519\"><strong>It withdraws 70 million ADA to secure the integrations needed for stablecoins, institutional liquidity, and cross-chain connectivity.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-2db5e41\">This includes:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-282d8cc\">\n<li class=\"\"><strong>Tier-one stablecoin support (USDC\/USDT class)<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Institutional-grade pricing oracles (e.g., Chainlink\/Pyth)<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Cross-chain bridges and interoperability layers<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Custody and wallet infrastructure for enterprises and institutions<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Advanced on-chain analytics and transparency tools<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-6ed7e1a\">These are not \u201cnice-to-have\u201d features.<\/p>\n\n\n\n<p class=\"deb-block deb-block-5c55b89\">They are the baseline infrastructure that chains like Solana, Ethereum L2s, Avalanche, and others already provide.<\/p>\n\n\n\n<p class=\"deb-block deb-block-8b2114f\">In other words:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote deb-block deb-block-a52d027\">\n<p class=\"deb-block deb-block-edb4c00\"><strong>Without these integrations, Cardano\u2019s technology cannot fully convert into real economic activity.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"deb-block deb-block-54f6eb1\">Once they are in place, Cardano becomes a realistic destination for:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7417baa\">\n<li class=\"\">Deep liquidity<\/li>\n\n\n\n<li class=\"\">DeFi and derivatives<\/li>\n\n\n\n<li class=\"\">RWA (real-world assets)<\/li>\n\n\n\n<li class=\"\">Institutional adoption<\/li>\n\n\n\n<li class=\"\">Enterprise and public-sector use cases<\/li>\n\n\n\n<li class=\"\">Cross-chain capital flows<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-eaa280e\">This is the foundation needed for the next phase of growth.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-addef3f\" id=\"e296a0-why-now-9\"><strong>\u25a0 Why Now?<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-a4fc6a7\">Cardano\u2019s strengths are clear \u2014 robust governance, strong engineering, and a principled foundation.<\/p>\n\n\n\n<p class=\"deb-block deb-block-6dbfa86\">But the ecosystem has lacked several \u201cconnection points\u201d that external capital and users expect:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-2b3b334\">\n<li class=\"\">TVL remains low compared to other L1s<\/li>\n\n\n\n<li class=\"\">Major stablecoins cannot deploy without trusted oracles<\/li>\n\n\n\n<li class=\"\">Institutions require custodians and compliance infrastructure<\/li>\n\n\n\n<li class=\"\">Cross-chain liquidity cannot enter easily<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b93f59d\">Meanwhile\u3001several integrations are already at an executable stage.<\/p>\n\n\n\n<p class=\"deb-block deb-block-d54b61e\">The window to position Cardano for 2026\u20132030 is now.<\/p>\n\n\n\n<p class=\"deb-block deb-block-11b58fe\">To me, this proposal represents a <strong>strategic inflection point<\/strong> \u2014 the moment where Cardano stops waiting for liquidity to arrive and instead builds the infrastructure that attracts it.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-289d0e9\" id=\"e296a0-what-about-governance-risks-10\"><strong>\u25a0 What About Governance Risks?<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-b04fc92\">There are valid concerns, and I take them seriously:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-3d250b8\">\n<li class=\"\">NDA restrictions limit pre-disclosure of vendor details<\/li>\n\n\n\n<li class=\"\">The Steering Committee holds significant authority<\/li>\n\n\n\n<li class=\"\">Future funding rounds may follow this one<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-764330f\">As a DRep, I owe the community a careful evaluation of these risks.<\/p>\n\n\n\n<p class=\"deb-block deb-block-f8cac3e\">However, in this case:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-b45bf02\">\n<li class=\"\">Intersect acts as Administrator under constitutional guardrails<\/li>\n\n\n\n<li class=\"\">The Treasury Reserve Smart Contract Framework provides transparency<\/li>\n\n\n\n<li class=\"\">A five-member independent Oversight Committee verifies drawdowns<\/li>\n\n\n\n<li class=\"\">Milestone-based disbursements protect against misuse<\/li>\n\n\n\n<li class=\"\">Public progress reporting is built into the plan<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-06e7885\">These mechanisms give me confidence that the governance structure is sufficiently robust.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-c1a0f64\" id=\"e296a0-sipos-position-11\"><strong>\u25a0 SIPO\u2019s Position:&nbsp;<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-b7a609d\"><strong>Yes \u2014 with clear expectations<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-348b824\">After evaluating the benefits and risks, I cast a <strong>Yes<\/strong> vote, with the expectation that the following commitments are honored:<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-3067434\">\n<li class=\"\"><strong>Vendor disclosure when NDAs permit, via a clear and timely process<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Consistent reporting on milestones and financial spending<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Public summaries of Steering Committee decisions and COI handling<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>A mandatory performance review before any future funding request<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Return of unused funds after 24 months, with a full financial summary<\/strong><\/li>\n<\/ol>\n\n\n\n<p class=\"deb-block deb-block-0b8ca8e\">If these governance expectations are met, this investment will significantly strengthen Cardano\u2019s competitive position.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-24ca979\" id=\"e296a0-moving-cardano-into-its-next-phase-12\"><strong>\u25a0 Moving Cardano Into Its Next Phase<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-e65da6c\">Cardano is entering an important transition \u2014 from a chain known for philosophy and research, to a chain recognized for liquidity, interoperability, and real economic activity.<\/p>\n\n\n\n<p class=\"deb-block deb-block-d74950f\">This proposal builds the infrastructure needed for that evolution.<\/p>\n\n\n\n<p class=\"deb-block deb-block-52f615e\">I see it as a foundational step toward:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-40274d7\">\n<li class=\"\">A more liquid Cardano<\/li>\n\n\n\n<li class=\"\">A more connected Cardano<\/li>\n\n\n\n<li class=\"\">A more institution-ready Cardano<\/li>\n\n\n\n<li class=\"\">A more globally relevant Cardano<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-d255f0f\">And ultimately, toward a more sustainable and thriving ecosystem.<\/p>\n\n\n\n<p class=\"deb-block deb-block-066d90a\">As SIPO, I\u2019ll continue evaluating future proposals carefully, balancing caution with ambition, and supporting Cardano\u2019s growth in a way that aligns with transparent, responsible governance.<\/p>\n\n\n\n<p class=\"deb-block deb-block-a787a9e\">If you have questions or want to discuss this proposal further, feel free to reach out anytime.<\/p>\n\n\n\n<p class=\"deb-block deb-block-ef7ba27\">SIPO<\/p>\n","protected":false},"excerpt":{"rendered":"\u30ab\u30eb\u30c0\u30ce\u306e\u672a\u6765\u3092\u5de6\u53f3\u3059\u308b\u300cCritical Integrations Budget\u300d\u2014\u2014SIPO DRep\u3068\u3057\u3066\u306e\u5224\u65ad\u3068\u671f\u5f85 \u4eca\u56de\u306f\u3001\u73fe\u5728\u30ac\u30d0\u30ca\u30f3\u30b9\u6295\u7968\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u5927\u898f\u6a21\u63d0\u6848 \u300cCardano Critical Integrations Budget\uff08\u30af\u30ea\u30c6\u30a3\u30ab\u30eb\u7d71\u5408\u4e88\u7b97\uff09\u300d \u306b\u3064\u3044\u3066\u3001\u5185\u5bb9\u306e\u89e3\u8aac\u3068\u3001SIPO DRep\u3068\u3057\u3066\u306e\u7acb\u5834\u3092\u307e\u3068\u3081\u307e\u3057\u305f\u3002 \u3053\u306e\u63d0\u6848\u306f\u3001\u30ab\u30eb\u30c0\u30ce\u306e\u4eca\u5f8c5\u5e74\u306e\u7af6\u4e89\u529b\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u975e\u5e38\u306b\u91cd\u8981\u306a\u30c6\u30fc\u30de\u3067\u3059\u3002\u79c1\u81ea\u8eab\u3001\u3053\u306e\u63d0\u6848\u3092\u8aad\u307f\u8fbc\u3080\u4e2d\u3067\u3001\u30ab\u30eb\u30c0\u30ce\u304c\u6b21\u306e\u30d5\u30a7\u30fc\u30ba\u3078\u9032\u3080\u305f\u3081\u306e\u201c\u6838\u5fc3\u90e8\u5206\u201d\u304c\u8a70\u307e\u3063\u3066\u3044\u308b\u3068\u5f37\u304f\u611f\u3058\u307e\u3057\u305f\u3002 \u63d0\u6848\u5185\u5bb9\uff1a\u300cWithdraw \u20b370,000,000 for Cardano Critical I&hellip;","protected":false},"author":1,"featured_media":44282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[307,21,35,28,1],"tags":[],"class_list":{"0":"post-44279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-drep","8":"category-21","9":"category-blog","10":"category-28","11":"category-japanese"},"featured_image_urls":{"full":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210.png",1792,1024,false],"thumbnail":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-150x150.png",150,150,true],"medium":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-300x171.png",300,171,true],"medium_large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-768x439.png",768,439,true],"large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-1024x585.png",900,514,true],"1536x1536":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-1536x878.png",1536,878,true],"2048x2048":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210.png",1792,1024,false],"dp-widget-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-140x96.png",140,96,true],"dp-widget-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-280x192.png",280,192,true],"dp-related-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-250x154.png",250,154,true],"dp-related-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-500x308.png",500,308,true],"dp-archive-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-450x257.png",450,257,true],"dp-archive-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2025\/12\/SIPO-DRep_20251210-900x514.png",900,514,true]},"category_list":"<a href=\"https:\/\/sipo.tokyo\/?cat=307\" rel=\"category\">DRep<\/a>, <a href=\"https:\/\/sipo.tokyo\/?cat=21\" rel=\"category\">\u30cb\u30e5\u30fc\u30b9<\/a>, <a href=\"https:\/\/sipo.tokyo\/?cat=35\" rel=\"category\">\u30d6\u30ed\u30b0<\/a>, <a href=\"https:\/\/sipo.tokyo\/?cat=28\" rel=\"category\">\u6295\u7a3f\u8a18\u4e8b<\/a>, <a href=\"https:\/\/sipo.tokyo\/?cat=1\" rel=\"category\">\u65e5\u672c\u8a9e\u7248<\/a>","author_info":{"name":"sition","url":"https:\/\/sipo.tokyo\/?author=1"},"comments_num":"0 comments","_links":{"self":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/44279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44279"}],"version-history":[{"count":1,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/44279\/revisions"}],"predecessor-version":[{"id":44283,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/44279\/revisions\/44283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/media\/44282"}],"wp:attachment":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}