{"id":44753,"date":"2026-01-21T09:20:10","date_gmt":"2026-01-21T00:20:10","guid":{"rendered":"https:\/\/sipo.tokyo\/?p=44753"},"modified":"2026-01-21T09:23:13","modified_gmt":"2026-01-21T00:23:13","slug":"post-44753","status":"publish","type":"post","link":"https:\/\/sipo.tokyo\/?p=44753","title":{"rendered":"SIPO DRep\uff1a\u300cNet Change Limit (Epoch 613 to Epoch 713)\u300d\u63d0\u6848\u306b\u3064\u3044\u3066\u2015 SIPO DRep\u3068\u3057\u3066\u306e\u300cYes\u300d\u8a55\u4fa1\u3068\u30b9\u30bf\u30f3\u30b9 \u2015"},"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=\"#sipo-drepefbc9ae3808cnet-change-limit-epoch-613-to-epoch-713e3808de68f90e6a188e381abe381a4e38184e381a6e28095-sipo-drepe381a8e38197e381a6e381aee3808cyes-1\">SIPO DRep\uff1a\u300cNet Change Limit (Epoch 613 to Epoch 713)\u300d\u63d0\u6848\u306b\u3064\u3044\u3066\u2015 SIPO DRep\u3068\u3057\u3066\u306e\u300cYes\u300d\u8a55\u4fa1\u3068\u30b9\u30bf\u30f3\u30b9 \u2015<\/a><ul><li><a href=\"#net-change-limitefbc88nclefbc89e68f90e6a188e381a8e381afe4bd95e3818be28095e28095-cardanoe381aee8b2a1e694bfe382ace38390e3838ae383b3e382b9e3818c-2\">Net Change Limit\uff08NCL\uff09\u63d0\u6848\u3068\u306f\u4f55\u304b\u2015\u2015 Cardano\u306e\u8ca1\u653f\u30ac\u30d0\u30ca\u30f3\u30b9\u304c\u6b21\u306e\u6bb5\u968e\u306b\u9032\u3080\u610f\u5473<\/a><ul><li><a href=\"#e381afe38198e38281e381abefbc88e6a682e8a681efbc89-3\">\u306f\u3058\u3081\u306b\uff08\u6982\u8981\uff09<\/a><\/li><li><a href=\"#net-change-limitefbc88nclefbc89e381a8e381afe4bd95e3818b-4\">Net Change Limit\uff08NCL\uff09\u3068\u306f\u4f55\u304b<\/a><\/li><li><a href=\"#e4bb8ae59b9ee381aencle68f90e6a188e381aee58685e5aeb9efbc88e8a9b3e7b4b0efbc89-5\">\u4eca\u56de\u306eNCL\u63d0\u6848\u306e\u5185\u5bb9\uff08\u8a73\u7d30\uff09<\/a><\/li><li><a href=\"#e381aae3819ce3808c350m-adae3808de381aae381aee3818befbc88e7ae97e5ae9ae381aee88083e38188e696b9efbc89-6\">\u306a\u305c\u300c350M ADA\u300d\u306a\u306e\u304b\uff08\u7b97\u5b9a\u306e\u8003\u3048\u65b9\uff09<\/a><\/li><li><a href=\"#e381aae3819ce69c9fe99693e3818c16e3818be69c88e381aae381aee3818befbc88e8a8ade8a888e381aee6848fe59bb3efbc89-7\">\u306a\u305c\u671f\u9593\u304c16\u304b\u6708\u306a\u306e\u304b\uff08\u8a2d\u8a08\u306e\u610f\u56f3\uff09<\/a><\/li><li><a href=\"#e38396e383ade38383e382afe38381e382a7e383bce383b3e585a8e4bd93e3818be38289e8a68be3819fe4bd8de7bdaee4bb98e38191efbc88e8a7a3e8aaacefbc89-8\">\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u5168\u4f53\u304b\u3089\u898b\u305f\u4f4d\u7f6e\u4ed8\u3051\uff08\u89e3\u8aac\uff09<\/a><\/li><li><a href=\"#sipo-drepe381a8e38197e381a6e381aee382b9e382bfe383b3e382b9-9\">SIPO DRep\u3068\u3057\u3066\u306e\u30b9\u30bf\u30f3\u30b9<\/a><\/li><li><a href=\"#e3819fe381a0e38197e38081e38193e3828ce381afe3808ce694afe587bae689bfe8aa8de3808de381a7e381afe38182e3828ae381bee3819be38293-10\">\u305f\u3060\u3057\u3001\u3053\u308c\u306f\u300c\u652f\u51fa\u627f\u8a8d\u300d\u3067\u306f\u3042\u308a\u307e\u305b\u3093<\/a><\/li><li><a href=\"#e4bb8ae5be8ce38282e58eb3e6a0bce381abe8a68be3828be3839de382a4e383b3e38388-11\">\u4eca\u5f8c\u3082\u53b3\u683c\u306b\u898b\u308b\u30dd\u30a4\u30f3\u30c8<\/a><\/li><li><a href=\"#e3818ae3828fe3828ae381ab-12\">\u304a\u308f\u308a\u306b<\/a><\/li><\/ul><\/li><li><a href=\"#what-the-net-change-limit-ncl-proposal-means-why-this-matters-for-cardanos-governance-13\">What the Net Change Limit (NCL) Proposal Means\u2014 Why This Matters for Cardano\u2019s Governance<\/a><ul><li><a href=\"#introduction-14\">Introduction<\/a><\/li><li><a href=\"#what-is-the-net-change-limit-15\">What is the Net Change Limit?<\/a><\/li><li><a href=\"#details-of-this-proposal-16\">Details of This Proposal<\/a><\/li><li><a href=\"#why-350m-ada-17\">Why 350M ADA?<\/a><\/li><li><a href=\"#why-this-period-length-18\">Why This Period Length?<\/a><\/li><li><a href=\"#broader-significance-19\">Broader Significance<\/a><\/li><li><a href=\"#sipo-dreps-position-20\">SIPO DRep\u2019s Position<\/a><\/li><li><a href=\"#what-this-yes-does-not-mean-21\">What This YES Does NOT Mean<\/a><\/li><li><a href=\"#how-sipo-will-evaluate-future-proposals-22\">How SIPO Will Evaluate Future Proposals<\/a><\/li><li><a href=\"#closing-23\">Closing<\/a><\/li><\/ul><\/div><h3 class=\"wp-block-heading deb-block deb-block-3856ece\" id=\"sipo-drepefbc9ae3808cnet-change-limit-epoch-613-to-epoch-713e3808de68f90e6a188e381abe381a4e38184e381a6e28095-sipo-drepe381a8e38197e381a6e381aee3808cyes-1\">SIPO DRep\uff1a\u300cNet Change Limit (Epoch 613 to Epoch 713)\u300d\u63d0\u6848\u306b\u3064\u3044\u3066\u2015 SIPO DRep\u3068\u3057\u3066\u306e\u300cYes\u300d\u8a55\u4fa1\u3068\u30b9\u30bf\u30f3\u30b9 \u2015<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border deb-block deb-block-4f81ef8\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"585\" src=\"https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-1024x585.png\" alt=\"\" class=\"has-border-color has-aaaaaa-border-color wp-image-44754\" title=\"\u753b\u50cf\" srcset=\"https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-1024x585.png 1024w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-300x171.png 300w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-768x439.png 768w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-1536x878.png 1536w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-450x257.png 450w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-900x514.png 900w, https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4.png 1792w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading deb-block deb-block-afb1454\" id=\"net-change-limitefbc88nclefbc89e68f90e6a188e381a8e381afe4bd95e3818be28095e28095-cardanoe381aee8b2a1e694bfe382ace38390e3838ae383b3e382b9e3818c-2\"><strong>Net Change Limit\uff08NCL\uff09\u63d0\u6848\u3068\u306f\u4f55\u304b<\/strong>\u2015\u2015 Cardano\u306e\u8ca1\u653f\u30ac\u30d0\u30ca\u30f3\u30b9\u304c\u6b21\u306e\u6bb5\u968e\u306b\u9032\u3080\u610f\u5473<\/h4>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-274423c\" id=\"e381afe38198e38281e381abefbc88e6a682e8a681efbc89-3\"><strong>\u306f\u3058\u3081\u306b\uff08\u6982\u8981\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-69078f6\">SIPO DRep\u3068\u3057\u3066\u3001\u4eca\u56de\u63d0\u793a\u3055\u308c\u3066\u3044\u308b <strong>Net Change Limit\uff08NCL\uff09\u63d0\u6848\uff08Epoch 613\u2013713\uff09<\/strong> \u306b\u3064\u3044\u3066\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-f48ea97\">\u305d\u306e\u6982\u8981\u3068\u610f\u5473\u3001\u305d\u3057\u3066 <strong>SIPO\u3068\u3057\u3066\u3069\u306e\u3088\u3046\u306a\u7acb\u5834\u3092\u53d6\u3063\u305f\u306e\u304b<\/strong> \u3092\u3001\u30d6\u30ed\u30b0\u3068\u3057\u3066\u6574\u7406\u3057\u3066\u304a\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-10d935e\">\u4eca\u56de\u306e\u63d0\u6848\u306f\u3001\u6d3e\u624b\u3055\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-e4709f9\"><strong>Cardano\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u55b6\u306b\u304a\u3044\u3066\u3001\u6975\u3081\u3066\u91cd\u8981\u306a\u57fa\u790e\u30a4\u30f3\u30d5\u30e9<\/strong>\u306b\u3042\u305f\u308b\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-f3b4236\">SIPO\u3068\u3057\u3066\u306f\u3001\u672c\u63d0\u6848\u306b <strong>\u300cYes\u300d<\/strong> \u3092\u6295\u3058\u308b\u5224\u65ad\u3092\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-89086a2\">\u305f\u3060\u3057\u305d\u308c\u306f\u3001\u300c\u652f\u51fa\u306b\u8cdb\u6210\u3059\u308b\u300d\u3068\u3044\u3046\u610f\u5473\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-e2ee115\">\u307e\u305a\u306f\u3001\u63d0\u6848\u306e\u4e2d\u8eab\u304b\u3089\u898b\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-f9eeece\" id=\"net-change-limitefbc88nclefbc89e381a8e381afe4bd95e3818b-4\"><strong>Net Change Limit\uff08NCL\uff09\u3068\u306f\u4f55\u304b<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-36b03fa\">Net Change Limit (Epoch 613 to Epoch 713)<\/p>\n\n\n\n<p class=\"deb-block deb-block-03bcb73\">Governance Action Type:Info Action<\/p>\n\n\n\n<p class=\"deb-block deb-block-aa5ac31\">Submitted:\u00a010th Jan 2026\u00a0(Epoch 605)<br>Expires:\u00a09th Feb 2026\u00a0(Epoch 612)<\/p>\n\n\n\n<p class=\"deb-block deb-block-04c4cda\">Governance Action ID: gov_action1m3xx08yv788vfxqh6nfvrjtvmqpwezsy0ggaczctkyjmttc2wmxsq4jsr7q<br>Legacy Governance Action ID (CIP-105): dc4c679c8cf1cec49817d4d2c1c96cd802ec8a047a11dc0b0bb125b5af0a76cd#0<\/p>\n\n\n\n<p class=\"deb-block deb-block-5c50489\">\u6295\u7968\u7d50\u679c\uff1a<a href=\"https:\/\/adastat.net\/governances\/dc4c679c8cf1cec49817d4d2c1c96cd802ec8a047a11dc0b0bb125b5af0a76cd00\">https:\/\/adastat.net\/governances\/dc4c679c8cf1cec49817d4d2c1c96cd802ec8a047a11dc0b0bb125b5af0a76cd00<\/a><\/p>\n\n\n\n<p class=\"deb-block deb-block-48f1d23\">Net Change Limit\uff08NCL\uff09\u3068\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-00a44e3\"><strong>\u4e00\u5b9a\u671f\u9593\u306b\u304a\u3044\u3066\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u5f15\u304d\u51fa\u3059\u3053\u3068\u304c\u3067\u304d\u308bADA\u306e\u6700\u5927\u7dcf\u984d\u3092\u3001\u3042\u3089\u304b\u3058\u3081\u5b9a\u3081\u308b\u4ed5\u7d44\u307f<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-f9d8b43\">\u30dd\u30a4\u30f3\u30c8\u306f\u4ee5\u4e0b\u306e\u901a\u308a\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-00e1147\">\n<li class=\"\">\u5358\u4e00\u306e\u4e88\u7b97\u63d0\u6848\u306e\u4e0a\u9650\u3067\u306f\u306a\u3044<\/li>\n\n\n\n<li class=\"\">\u300c\u3053\u306e\u671f\u9593\u4e2d\u3001\u5408\u8a08\u3067\u3053\u3053\u307e\u3067\u3057\u304b\u4f7f\u3048\u306a\u3044\u300d\u3068\u3044\u3046<strong>\u7dcf\u91cf\u898f\u5236<\/strong><\/li>\n\n\n\n<li class=\"\">NCL\u304c\u8a2d\u5b9a\u3055\u308c\u3066\u3044\u306a\u3044\u3068\u3001<strong>\u3044\u304b\u306a\u308b\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\u3082\u9055\u61b2<\/strong>\u306b\u306a\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-31aa2af\">\u3064\u307e\u308a\u3001NCL\u306f<\/p>\n\n\n\n<p class=\"deb-block deb-block-965005f\"><strong>\u300c\u304a\u91d1\u3092\u4f7f\u3046\u305f\u3081\u306e\u627f\u8a8d\u300d\u3067\u306f\u306a\u304f\u3001\u300c\u4f7f\u3044\u3059\u304e\u306a\u3044\u305f\u3081\u306e\u61b2\u6cd5\u4e0a\u306e\u30ac\u30fc\u30c9\u30ec\u30fc\u30eb\u300d<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-d96cebf\" id=\"e4bb8ae59b9ee381aencle68f90e6a188e381aee58685e5aeb9efbc88e8a9b3e7b4b0efbc89-5\"><strong>\u4eca\u56de\u306eNCL\u63d0\u6848\u306e\u5185\u5bb9\uff08\u8a73\u7d30\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-69fcdf3\">\u4eca\u56de\u63d0\u793a\u3055\u308c\u3066\u3044\u308b\u6761\u4ef6\u306f\u3001\u4ee5\u4e0b\u306e\u901a\u308a\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-f4e8626\">\n<li class=\"\"><strong>\u5bfe\u8c61\u671f\u9593<\/strong> Epoch 613\uff082026\u5e742\u670813\u65e5\uff09\u301c Epoch 713\uff082027\u5e747\u67083\u65e5\uff09<\/li>\n\n\n\n<li class=\"\"><strong>\u671f\u9593<\/strong> \u7d0416\u304b\u6708\uff0b20\u65e5<\/li>\n\n\n\n<li class=\"\"><strong>\u4e0a\u9650\u984d<\/strong> <strong>350,000,000 ADA<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>\u30ac\u30d0\u30ca\u30f3\u30b9\u7a2e\u5225<\/strong> Info Action\uff08\u60c5\u5831\u63d0\u4f9b\u578b\u3060\u304c\u3001\u61b2\u6cd5\u4e0a\u5fc5\u9808\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b3ba595\">\u3053\u306e\u671f\u9593\u5185\u306b\u304a\u3044\u3066\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-1b7c73c\"><strong>\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u5f15\u304d\u51fa\u305b\u308b\u7dcf\u984d\u306f\u6700\u5927350M ADA\u307e\u3067<\/strong>\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-3afa886\">\u3053\u308c\u3092\u8d85\u3048\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-3b1b4b6\" id=\"e381aae3819ce3808c350m-adae3808de381aae381aee3818befbc88e7ae97e5ae9ae381aee88083e38188e696b9efbc89-6\"><strong>\u306a\u305c\u300c350M ADA\u300d\u306a\u306e\u304b\uff08\u7b97\u5b9a\u306e\u8003\u3048\u65b9\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-fa672dd\">\u3053\u306e\u6570\u5b57\u306f\u3001\u611f\u899a\u7684\u306b\u6c7a\u3081\u3089\u308c\u305f\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-8b627a0\">\n<li class=\"\">2025\u5e74\u306e\u5b9f\u969b\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u6d41\u5165\u5b9f\u7e3e\uff08\u7d04307M ADA\uff09<\/li>\n\n\n\n<li class=\"\">\u3059\u3067\u306bDRep\u3067\u627f\u8a8d\u6e08\u307f\u3060\u304c\u3001\u307e\u3060\u5f15\u304d\u51fa\u3055\u308c\u3066\u3044\u306a\u3044\u4e88\u7b97\uff08\u4f8b\uff1a\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u95a2\u9023\uff09<\/li>\n\n\n\n<li class=\"\">2026\u5e74\u306b\u60f3\u5b9a\u3055\u308c\u308b\u958b\u767a\u30fb\u904b\u7528\u8ca0\u8377<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-08f2c57\">\u3053\u308c\u3089\u3092\u8e0f\u307e\u3048\u305f\u4e0a\u3067\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-4e83fcf\"><strong>\u5b9f\u7e3e\u30d9\u30fc\u30b9\uff0b\u3084\u3084\u4f59\u88d5\u3092\u6301\u305f\u305b\u305f\u6c34\u6e96\uff08\u7d04115%\uff09<\/strong>\u3068\u3057\u3066\u8a2d\u5b9a\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-2e06682\">SIPO\u306e\u898b\u65b9\u3068\u3057\u3066\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-c33a25d\">\u3053\u308c\u306f\u300c\u653b\u3081\u305f\u4e0a\u9650\u300d\u3067\u306f\u306a\u304f\u3001<strong>\u7ba1\u7406\u3055\u308c\u305f\u73fe\u5b9f\u7684\u306a\u4e0a\u9650<\/strong>\u3060\u3068\u53d7\u3051\u6b62\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-2815502\" id=\"e381aae3819ce69c9fe99693e3818c16e3818be69c88e381aae381aee3818befbc88e8a8ade8a888e381aee6848fe59bb3efbc89-7\"><strong>\u306a\u305c\u671f\u9593\u304c16\u304b\u6708\u306a\u306e\u304b\uff08\u8a2d\u8a08\u306e\u610f\u56f3\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-9f6c2a3\">\u4eca\u56de\u306eNCL\u306f\u3001\u3042\u3048\u3066\u5e74\u672b\u3092\u307e\u305f\u304c\u306a\u3044\u8a2d\u8a08\u306b\u306a\u3063\u3066\u3044\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-bb8deff\">\n<li class=\"\">\u5e74\u672b\u5e74\u59cb\u306f\u30ac\u30d0\u30ca\u30f3\u30b9\u53c2\u52a0\u7387\u304c\u4e0b\u304c\u308a\u3084\u3059\u3044<\/li>\n\n\n\n<li class=\"\">\u6b21\u56deNCL\u8a2d\u5b9a\u6642\u306b\u3001<strong>\u524d\u5e74\u5206\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u6d41\u5165\u30c7\u30fc\u30bf\u304c\u5b8c\u5168\u306b\u63c3\u3046<\/strong><\/li>\n\n\n\n<li class=\"\">\u4e88\u7b97\u8b70\u8ad6\u3092\u300c\u5e74\u592e\u30b5\u30a4\u30af\u30eb\u300d\u306b\u63c3\u3048\u3084\u3059\u304f\u306a\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-f3ee601\">\u3053\u308c\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-ec82590\"><strong>\u5236\u5ea6\u3068\u3057\u3066\u30ac\u30d0\u30ca\u30f3\u30b9\u3092\u56de\u3057\u7d9a\u3051\u308b\u305f\u3081\u306e\u5de5\u592b<\/strong>\u3060\u3068SIPO\u306f\u8a55\u4fa1\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-1331318\" id=\"e38396e383ade38383e382afe38381e382a7e383bce383b3e585a8e4bd93e3818be38289e8a68be3819fe4bd8de7bdaee4bb98e38191efbc88e8a7a3e8aaacefbc89-8\"><strong>\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u5168\u4f53\u304b\u3089\u898b\u305f\u4f4d\u7f6e\u4ed8\u3051\uff08\u89e3\u8aac\uff09<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-f029265\">\u591a\u304f\u306e\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3067\u306f\u3001\u3044\u307e\u3060\u306b\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-a97a265\">\n<li class=\"\">\u8ca1\u56e3\u88c1\u91cf\u3067\u306e\u652f\u51fa<\/li>\n\n\n\n<li class=\"\">\u4e0d\u900f\u660e\u306a\u4e88\u7b97\u7ba1\u7406<\/li>\n\n\n\n<li class=\"\">\u4e8b\u5f8c\u7684\u306a\u8aac\u660e<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-c9d0d43\">\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-769c59d\">\u305d\u308c\u306b\u5bfe\u3057\u3066Cardano\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-0828aaa\">\n<li class=\"\">\u61b2\u6cd5\u306b\u57fa\u3065\u304d<\/li>\n\n\n\n<li class=\"\">\u671f\u9593\u3068\u7dcf\u91cf\u3092\u4e8b\u524d\u306b\u5b9a\u3081<\/li>\n\n\n\n<li class=\"\">DRep\u304c\u6c11\u4e3b\u7684\u306b\u5408\u610f\u3059\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-fdf629a\">\u3068\u3044\u3046\u3001<strong>\u56fd\u5bb6\u8ca1\u653f\u306b\u8fd1\u3044\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020<\/strong>\u3092\u3001L1\u30ec\u30d9\u30eb\u3067\u5b9f\u88c5\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-d3b0fd9\">NCL\u306f\u5730\u5473\u3067\u3059\u304c\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-00ac66d\"><strong>\u300c\u516c\u5171\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3068\u3057\u3066\u6210\u719f\u3059\u308b\u305f\u3081\u306e\u5fc5\u9808\u6761\u4ef6\u300d<\/strong>\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-162047a\" id=\"sipo-drepe381a8e38197e381a6e381aee382b9e382bfe383b3e382b9-9\"><strong>SIPO DRep\u3068\u3057\u3066\u306e\u30b9\u30bf\u30f3\u30b9<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-89d3501\">\u3053\u3053\u304b\u3089\u304c\u3001SIPO\u3068\u3057\u3066\u6700\u3082\u5927\u5207\u306b\u3057\u3066\u3044\u308b\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-6bc1ca2\"><strong>SIPO\u306f\u3001\u306a\u305c\u300cYes\u300d\u3092\u6295\u3058\u305f\u306e\u304b<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-cb3d41a\">\u7406\u7531\u306f\u30b7\u30f3\u30d7\u30eb\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-0987807\">\n<li class=\"\">NCL\u304c\u306a\u3051\u308c\u3070\u3001<strong>\u3059\u3079\u3066\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\u304c\u505c\u6b62\u3059\u308b<\/strong><\/li>\n\n\n\n<li class=\"\">\u305d\u308c\u306f\u614e\u91cd\u3055\u3067\u306f\u306a\u304f\u3001<strong>\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u9ebb\u75fa<\/strong>\u306b\u3064\u306a\u304c\u308b<\/li>\n\n\n\n<li class=\"\">Cardano\u304c\u524d\u306b\u9032\u3080\u305f\u3081\u306b\u306f\u3001\u307e\u305a\u300c\u67a0\u300d\u3092\u6c7a\u3081\u308b\u5fc5\u8981\u304c\u3042\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-fb51e65\">\u305d\u306e\u305f\u3081SIPO\u306f\u3001\u672c\u63d0\u6848\u306b <strong>Yes<\/strong> \u3092\u6295\u3058\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-71f5864\" id=\"e3819fe381a0e38197e38081e38193e3828ce381afe3808ce694afe587bae689bfe8aa8de3808de381a7e381afe38182e3828ae381bee3819be38293-10\"><strong>\u305f\u3060\u3057\u3001\u3053\u308c\u306f\u300c\u652f\u51fa\u627f\u8a8d\u300d\u3067\u306f\u3042\u308a\u307e\u305b\u3093<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-fda69cb\">SIPO\u3068\u3057\u3066\u3001\u3053\u3053\u306f\u660e\u78ba\u306b\u3057\u3066\u304a\u304d\u305f\u3044\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-7f67c57\">\n<li class=\"\">\u3053\u306eYes\u306f\u3001<strong>350M ADA\u3092\u4f7f\u3046\u3053\u3068\u3078\u306e\u8cdb\u6210\u3067\u306f\u3042\u308a\u307e\u305b\u3093<\/strong><\/li>\n\n\n\n<li class=\"\">\u3053\u306eYes\u306f\u3001<strong>\u500b\u5225\u306e\u4e88\u7b97\u63d0\u6848\u3092\u4e8b\u524d\u627f\u8a8d\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093<\/strong><\/li>\n\n\n\n<li class=\"\">\u3042\u304f\u307e\u3067\u300c\u6700\u5927\u3067\u3082\u3053\u3053\u307e\u3067\u300d\u3068\u3044\u3046<strong>\u4e0a\u9650\u8a2d\u5b9a\u3078\u306e\u540c\u610f<\/strong>\u3067\u3059<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-601a312\">\u500b\u5225\u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\u63d0\u6848\u306b\u3064\u3044\u3066\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-baafe5b\">\u4eca\u5f8c\u3082 <strong>\u4e00\u3064\u3072\u3068\u3064\u662f\u3005\u975e\u3005\u3067\u5224\u65ad<\/strong>\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-67fdef4\" id=\"e4bb8ae5be8ce38282e58eb3e6a0bce381abe8a68be3828be3839de382a4e383b3e38388-11\"><strong>\u4eca\u5f8c\u3082\u53b3\u683c\u306b\u898b\u308b\u30dd\u30a4\u30f3\u30c8<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-77d9bc9\">SIPO DRep\u3068\u3057\u3066\u3001\u4eca\u5f8c\u306eTreasury\u63d0\u6848\u3067\u306f\u7279\u306b\u4ee5\u4e0b\u3092\u91cd\u8996\u3057\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-b182e86\">\n<li class=\"\">\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u3078\u306e\u516c\u5171\u7684\u4fa1\u5024\u304c\u3042\u308b\u304b<\/li>\n\n\n\n<li class=\"\">\u77ed\u671f\u7684\u306a\u4eba\u6c17\u3067\u306f\u306a\u304f\u3001\u9577\u671f\u7684\u306a\u6301\u7d9a\u6027\u304c\u3042\u308b\u304b<\/li>\n\n\n\n<li class=\"\">\u8aac\u660e\u8cac\u4efb\u3068\u900f\u660e\u6027\u304c\u78ba\u4fdd\u3055\u308c\u3066\u3044\u308b\u304b<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-4e94d36\">\u3053\u308c\u3089\u3092\u6e80\u305f\u3055\u306a\u3044\u63d0\u6848\u306b\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-508ae5d\">NCL\u306e\u67a0\u304c\u6b8b\u3063\u3066\u3044\u3066\u3082 <strong>No\u3092\u6295\u3058\u307e\u3059<\/strong>\u3002<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-0b02b1c\" id=\"e3818ae3828fe3828ae381ab-12\"><strong>\u304a\u308f\u308a\u306b<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-14e21ac\">\u4eca\u56de\u306eNet Change Limit\u63d0\u6848\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-215786f\">\u76ee\u7acb\u3064\u63d0\u6848\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001<strong>Cardano\u304c\u300c\u81ea\u5f8b\u7684\u306a\u516c\u5171\u30c1\u30a7\u30fc\u30f3\u300d\u3078\u9032\u3080\u305f\u3081\u306e\u571f\u53f0<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-646f06d\">SIPO\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-45428ce\">\n<li class=\"\">\u30ac\u30d0\u30ca\u30f3\u30b9\u3092\u6b62\u3081\u306a\u3044\u305f\u3081\u306b Yes<\/li>\n\n\n\n<li class=\"\">\u3057\u304b\u3057\u652f\u51fa\u306b\u306f\u5e38\u306b\u53b3\u3057\u304f<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-e8eb9cf\">\u3068\u3044\u3046\u7acb\u5834\u3092\u53d6\u308a\u7d9a\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-4318a40\">\u3053\u308c\u304b\u3089\u3082\u3001DRep\u3068\u3057\u3066\u306e\u5224\u65ad\u3084\u8003\u3048\u65b9\u306f\u3001<\/p>\n\n\n\n<p class=\"deb-block deb-block-83f2a31\">\u3067\u304d\u308b\u3060\u3051\u30aa\u30fc\u30d7\u30f3\u306b\u5171\u6709\u3057\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-ef35440\"\/>\n\n\n\n<h4 class=\"wp-block-heading deb-block deb-block-c873c4f\" id=\"what-the-net-change-limit-ncl-proposal-means-why-this-matters-for-cardanos-governance-13\"><strong>What the Net Change Limit (NCL) Proposal Means<\/strong>\u2014 Why This Matters for Cardano\u2019s Governance<\/h4>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-e8f6c4e\" id=\"introduction-14\"><strong>Introduction<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-c6df0f6\">As SIPO DRep, I would like to clearly explain the <strong>Net Change Limit (NCL) proposal for Epoch 613\u2013713<\/strong>,<\/p>\n\n\n\n<p class=\"deb-block deb-block-3935bc6\">what it means, why it matters, and <strong>why SIPO voted YES<\/strong>.<\/p>\n\n\n\n<p class=\"deb-block deb-block-4271519\">This proposal may not look exciting at first glance, but it is a <strong>core piece of Cardano\u2019s constitutional treasury governance<\/strong>.<\/p>\n\n\n\n<p class=\"deb-block deb-block-5b0ce51\">SIPO voted <strong>YES<\/strong>, but this does <strong>not<\/strong> mean we approved spending.<\/p>\n\n\n\n<p class=\"deb-block deb-block-61c0ff9\">Let me explain the difference.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-50676a0\" id=\"what-is-the-net-change-limit-15\"><strong>What is the Net Change Limit?<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-e454526\">The Net Change Limit defines the <strong>maximum total amount of ADA that can be withdrawn from the treasury during a specific period<\/strong>.<\/p>\n\n\n\n<p class=\"deb-block deb-block-1852a11\">Key points:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-f3ab458\">\n<li class=\"\">It is not a single-budget cap<\/li>\n\n\n\n<li class=\"\">It is a <strong>total ceiling for the entire period<\/strong><\/li>\n\n\n\n<li class=\"\">Without an approved NCL, <strong>any treasury withdrawal becomes unconstitutional<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-9f41ac2\">In short, the NCL is a <strong>guardrail<\/strong>, not a spending authorization.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-84232f7\" id=\"details-of-this-proposal-16\"><strong>Details of This Proposal<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-91c28d0\">\n<li class=\"\"><strong>Period<\/strong>: Epoch 613 (Feb 13, 2026) to Epoch 713 (Jul 3, 2027)<\/li>\n\n\n\n<li class=\"\"><strong>Duration<\/strong>: About 16 months<\/li>\n\n\n\n<li class=\"\"><strong>Maximum withdrawal<\/strong>: <strong>350 million ADA<\/strong><\/li>\n\n\n\n<li class=\"\"><strong>Governance type<\/strong>: Info Action (constitutionally required)<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-04d7274\">This means that, during this period, <strong>total treasury withdrawals cannot exceed 350M ADA<\/strong>.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-43c4654\" id=\"why-350m-ada-17\"><strong>Why 350M ADA?<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-a5fe639\">The amount is based on real data and existing commitments:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-add521d\">\n<li class=\"\">Actual treasury inflows in 2025<\/li>\n\n\n\n<li class=\"\">Previously approved but not yet withdrawn budgets<\/li>\n\n\n\n<li class=\"\">Expected development and ecosystem needs for 2026<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-40a651c\">From SIPO\u2019s perspective, this is a <strong>managed and realistic ceiling<\/strong>, not an aggressive one.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-9ff1fa2\" id=\"why-this-period-length-18\"><strong>Why This Period Length?<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-5386e16\">The NCL cycle is intentionally aligned away from year-end holidays:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-c19b05a\">\n<li class=\"\">Improves governance participation<\/li>\n\n\n\n<li class=\"\">Allows full-year treasury data to be available for the next NCL<\/li>\n\n\n\n<li class=\"\">Supports more predictable budget planning<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-ce50265\">This is about making governance <strong>work in practice<\/strong>, not just on paper.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-e7a9c2c\" id=\"broader-significance-19\"><strong>Broader Significance<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-cbe7b05\">Many blockchains still rely on discretionary foundations and opaque budgets.<\/p>\n\n\n\n<p class=\"deb-block deb-block-694daf0\">Cardano is taking a different path:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-9947484\">\n<li class=\"\">Constitutional rules<\/li>\n\n\n\n<li class=\"\">Time-bounded spending limits<\/li>\n\n\n\n<li class=\"\">Democratic approval by DReps<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-7cdf853\">This proposal strengthens Cardano\u2019s position as a <strong>governance-first public blockchain<\/strong>.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-26fd3ae\" id=\"sipo-dreps-position-20\"><strong>SIPO DRep\u2019s Position<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-cfa720d\"><strong>Why SIPO voted YES<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-e0535b4\">Without an NCL:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7286d8a\">\n<li class=\"\">All treasury withdrawals are blocked<\/li>\n\n\n\n<li class=\"\">Governance effectively freezes<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-b359e3a\">SIPO believes that <strong>keeping governance functional<\/strong> is essential for Cardano\u2019s long-term health.<\/p>\n\n\n\n<p class=\"deb-block deb-block-72ec643\">That is why we voted YES.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-d94d2ba\" id=\"what-this-yes-does-not-mean-21\"><strong>What This YES Does NOT Mean<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-a73c70d\">To be very clear:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-7c696f9\">\n<li class=\"\">It does <strong>not<\/strong> approve spending 350M ADA<\/li>\n\n\n\n<li class=\"\">It does <strong>not<\/strong> pre-approve any budget proposal<\/li>\n\n\n\n<li class=\"\">It only sets a <strong>maximum limit<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-51f0d20\">Each treasury withdrawal will still be reviewed individually.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-2f945e5\" id=\"how-sipo-will-evaluate-future-proposals-22\"><strong>How SIPO Will Evaluate Future Proposals<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-d02cad8\">As a DRep, SIPO will continue to assess proposals based on:<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list list-col-1 inline-img-left deb-block deb-block-9698c7e\">\n<li class=\"\">Public value for the ecosystem<\/li>\n\n\n\n<li class=\"\">Long-term sustainability<\/li>\n\n\n\n<li class=\"\">Transparency and accountability<\/li>\n<\/ul>\n\n\n\n<p class=\"deb-block deb-block-5cf8287\">If a proposal does not meet these standards, SIPO will vote NO, regardless of remaining NCL capacity.<\/p>\n\n\n\n<h5 class=\"wp-block-heading deb-block deb-block-547f171\" id=\"closing-23\"><strong>Closing<\/strong><\/h5>\n\n\n\n<p class=\"deb-block deb-block-02392df\">This Net Change Limit proposal is not about spending more.<\/p>\n\n\n\n<p class=\"deb-block deb-block-809d5e8\">It is about <strong>spending responsibly, with clear constitutional limits<\/strong>.<\/p>\n\n\n\n<p class=\"deb-block deb-block-9b4392e\">SIPO supports this framework while maintaining strict scrutiny over all future treasury actions.<\/p>\n\n\n\n<p class=\"deb-block deb-block-7c89257\">We will continue to share our reasoning openly with the community.<\/p>\n\n\n\n<p class=\"deb-block deb-block-a1be203\">Thank you for reading.<\/p>\n","protected":false},"excerpt":{"rendered":"SIPO DRep\uff1a\u300cNet Change Limit (Epoch 613 to Epoch 713)\u300d\u63d0\u6848\u306b\u3064\u3044\u3066\u2015 SIPO DRep\u3068\u3057\u3066\u306e\u300cYes\u300d\u8a55\u4fa1\u3068\u30b9\u30bf\u30f3\u30b9 \u2015 Net Change Limit\uff08NCL\uff09\u63d0\u6848\u3068\u306f\u4f55\u304b\u2015\u2015 Cardano\u306e\u8ca1\u653f\u30ac\u30d0\u30ca\u30f3\u30b9\u304c\u6b21\u306e\u6bb5\u968e\u306b\u9032\u3080\u610f\u5473 \u306f\u3058\u3081\u306b\uff08\u6982\u8981\uff09 SIPO DRep\u3068\u3057\u3066\u3001\u4eca\u56de\u63d0\u793a\u3055\u308c\u3066\u3044\u308b Net Change Limit\uff08NCL\uff09\u63d0\u6848\uff08Epoch 613\u2013713\uff09 \u306b\u3064\u3044\u3066\u3001 \u305d\u306e\u6982\u8981\u3068\u610f\u5473\u3001\u305d\u3057\u3066 SIPO\u3068\u3057\u3066\u3069\u306e\u3088\u3046\u306a\u7acb\u5834\u3092\u53d6\u3063\u305f\u306e\u304b \u3092\u3001\u30d6\u30ed\u30b0\u3068\u3057\u3066\u6574\u7406\u3057\u3066\u304a\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002 \u4eca\u56de\u306e\u63d0\u6848\u306f\u3001\u6d3e\u624b\u3055\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001 Cardano\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u904b\u55b6\u306b&hellip;","protected":false},"author":1,"featured_media":44754,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[307,21,35,28,1],"tags":[],"class_list":{"0":"post-44753","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\/2026\/01\/4-4.png",1792,1024,false],"thumbnail":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-150x150.png",150,150,true],"medium":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-300x171.png",300,171,true],"medium_large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-768x439.png",768,439,true],"large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-1024x585.png",900,514,true],"1536x1536":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-1536x878.png",1536,878,true],"2048x2048":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4.png",1792,1024,false],"dp-widget-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-140x96.png",140,96,true],"dp-widget-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-280x192.png",280,192,true],"dp-related-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-250x154.png",250,154,true],"dp-related-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-500x308.png",500,308,true],"dp-archive-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-450x257.png",450,257,true],"dp-archive-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/01\/4-4-900x514.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\/44753","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=44753"}],"version-history":[{"count":1,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/44753\/revisions"}],"predecessor-version":[{"id":44756,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/44753\/revisions\/44756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/media\/44754"}],"wp:attachment":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}