{"id":45803,"date":"2026-05-09T20:49:01","date_gmt":"2026-05-09T11:49:01","guid":{"rendered":"https:\/\/sipo.tokyo\/?p=45803"},"modified":"2026-05-09T20:49:02","modified_gmt":"2026-05-09T11:49:02","slug":"sipo-drep-io-midgard-l2-scalability-202605","status":"publish","type":"post","link":"https:\/\/sipo.tokyo\/?p=45803","title":{"rendered":"SIPO DRep\uff1a\u300eIO &#038; Midgard Labs: L2 Scalability Initiative\u300f\u63d0\u6848 \u2015 Leios + L2 \u3067\u30ab\u30eb\u30c0\u30ce\u306e\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u304c\u5b8c\u6210\u3001SIPO \u306f YES \u3092\u6295\u3058\u308b"},"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=\"#e381afe38198e38281e381ab-1\">\u306f\u3058\u3081\u306b<\/a><\/li><li><a href=\"#e68f90e6a188e381aee585a8e4bd93e5838f-2\">\u63d0\u6848\u306e\u5168\u4f53\u50cf<\/a><\/li><li><a href=\"#e794b0e5b9b3e6b08fe688a6e795a5e38395e383ace383bce3839fe383b3e382b0-leios-l2-e381a7e382b9e382b1e383bce383aae383b3e382b0e5ae8ce68890-3\">\u7530\u5e73\u6c0f\u6226\u7565\u30d5\u30ec\u30fc\u30df\u30f3\u30b0: Leios + L2 \u3067\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u5b8c\u6210<\/a><\/li><li><a href=\"#e382b9e382b3e383bce38397e8a995e4bea1-4\">\u30b9\u30b3\u30fc\u30d7\u8a55\u4fa1<\/a><ul><li><a href=\"#hydra-e381a8-midgard-e381afe7abb6e59088e381a7e381afe381aae3818fe8a39ce5ae8c-5\">Hydra \u3068 Midgard \u306f\u7af6\u5408\u3067\u306f\u306a\u304f\u88dc\u5b8c<\/a><\/li><li><a href=\"#hydra-hardening-e3818ce4bf9de8adb7e38199e3828b-3-e381a4e381aee383a9e382a4e38396e382b3e3839fe38383e38388e383a1e383b3e38388-6\">Hydra hardening \u304c\u4fdd\u8b77\u3059\u308b 3 \u3064\u306e\u30e9\u30a4\u30d6\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8<\/a><\/li><li><a href=\"#midgard-e381ae-cardano-native-e6a78be980a0e79a84e584aae4bd8de680a7-7\">Midgard \u306e Cardano-native \u69cb\u9020\u7684\u512a\u4f4d\u6027<\/a><\/li><li><a href=\"#ws1-da-e585b1e69c89e382a4e383b3e38395e383a9e381aee688a6e795a5e79a84e6848fe591b3-8\">WS1 DA \u5171\u6709\u30a4\u30f3\u30d5\u30e9\u306e\u6226\u7565\u7684\u610f\u5473<\/a><\/li><li><a href=\"#pillar-5-e6a78be980a0e79a84e5ae9fe8a385-treasury-e98284e58583e383a1e382abe3838be382bae383a0-9\">Pillar 5 \u69cb\u9020\u7684\u5b9f\u88c5: Treasury \u9084\u5143\u30e1\u30ab\u30cb\u30ba\u30e0<\/a><\/li><\/ul><\/li><li><a href=\"#e382ace38390e3838ae383b3e382b9e6a78be980a0-10\">\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020<\/a><\/li><li><a href=\"#cardano-2030-e695b4e59088-11\">Cardano 2030 \u6574\u5408<\/a><\/li><li><a href=\"#e4ba88e7ae97e8a68fe5be8b-12\">\u4e88\u7b97\u898f\u5f8b<\/a><\/li><li><a href=\"#e382b9e382bfe383b3e382b9e4b880e8b2abe680a7-13\">\u30b9\u30bf\u30f3\u30b9\u4e00\u8cab\u6027<\/a><\/li><li><a href=\"#e69c9fe5be85e4ba8be9a085efbc88yes-e381abe381afe6988ee7a2bae381aae69da1e4bbb6e3818ce4bcb4e38186efbc89-14\">\u671f\u5f85\u4e8b\u9805\uff08YES \u306b\u306f\u660e\u78ba\u306a\u6761\u4ef6\u304c\u4f34\u3046\uff09<\/a><\/li><li><a href=\"#e7b590e381b3-15\">\u7d50\u3073<\/a><\/li><li><a href=\"#sipo-drep-why-we-vote-yes-on-io-midgard-labs-l2-scalability-initiative-16\">SIPO DRep: Why We Vote YES on &#8220;IO &amp; Midgard Labs: L2 Scalability Initiative&#8221;<\/a><\/li><li><a href=\"#introduction-17\">Introduction<\/a><\/li><li><a href=\"#why-sipo-votes-yes-18\">Why SIPO Votes YES<\/a><\/li><li><a href=\"#expectations-19\">Expectations<\/a><\/li><li><a href=\"#closing-20\">Closing<\/a><\/li><li><a href=\"#references-21\">References<\/a><\/li><\/ul><\/div><h2 class=\"wp-block-heading deb-block deb-block-9de0a8f\" id=\"e381afe38198e38281e381ab-1\">\u306f\u3058\u3081\u306b<\/h2>\n\n\n\n<p class=\"deb-block deb-block-dc522dc\">2026\u5e744\u670822\u65e5\uff08\u30a8\u30dd\u30c3\u30af626\uff09\u306b\u63d0\u51fa\u3055\u308c\u305f\u30ac\u30d0\u30ca\u30f3\u30b9\u30a2\u30af\u30b7\u30e7\u30f3\u300cIO &amp; Midgard Labs: L2 Scalability Initiative\u300d\u306b\u3064\u3044\u3066\u3001SIPO DRep \u3068\u3057\u3066\u306e\u5206\u6790\u3068\u5224\u65ad\u3092\u304a\u4f1d\u3048\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-d5b84af\">\u672c\u63d0\u6848\u306f\u3001Input Output (IO) \u3068 <strong>Midgard Labs<\/strong>\uff08Cardano \u521d\u306e permissionless optimistic rollup \u306e specialist team\uff09\u306e co-venture \u306b\u3088\u3063\u3066\u63d0\u51fa\u3055\u308c\u305f Treasury Withdrawal \u63d0\u6848\u3067\u3042\u308a\u3001\u7533\u8acb\u984d\u306f <strong>\u20b310,425,871\uff08USD $2,502,209\u3001$0.24\/ADA \u63db\u7b97\uff09<\/strong> \u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"deb-block deb-block-ecdf6e3\">\u7d50\u8ad6\u304b\u3089\u7533\u3057\u4e0a\u3052\u307e\u3059\u3002<strong>SIPO \u306f\u672c\u63d0\u6848\u306b\u8cdb\u6210\uff08YES\uff09\u3092\u6295\u3058\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-ede3acb\">\u672c\u63d0\u6848\u306f\u3001SIPO \u304c\u540c\u6642\u306b YES \u3092\u6295\u3058\u308b <strong>Leios\uff08\u5408\u610f\u5c64 30-65 \u500d throughput \u62e1\u5f35\uff09\u3068\u7d44\u307f\u5408\u308f\u3055\u308b\u3053\u3068\u3067\u3001Cardano \u306e 2 \u5c64\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u304c\u5b8c\u6210<\/strong> \u3059\u308b\u3068\u3044\u3046\u6226\u7565\u7684\u4f4d\u7f6e\u3065\u3051\u306b\u3042\u308a\u307e\u3059\u3002Leios \u304c L1 \u5929\u4e95\u3092\u89e3\u6c7a\u3057\u3001\u672c\u63d0\u6848\u306f Leios \u5358\u72ec\u3067\u306f\u5bfe\u5fdc\u3067\u304d\u306a\u3044 <strong>finality 1-2 \u79d2\u30fbsub-cent fee<\/strong> \u3068\u3044\u3046 L2 \u9818\u57df\u3092\u89e3\u6c7a\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-a505446\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-8a15afe\" id=\"e68f90e6a188e381aee585a8e4bd93e5838f-2\">\u63d0\u6848\u306e\u5168\u4f53\u50cf<\/h2>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-5be3bf4\"><table><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>\u63d0\u6848\u540d<\/td><td>IO &amp; Midgard Labs: L2 Scalability Initiative<\/td><\/tr><tr><td>\u30bf\u30a4\u30d7<\/td><td>Treasury Withdrawal<\/td><\/tr><tr><td>\u7533\u8acb\u984d<\/td><td>\u20b310,425,871\uff08USD $2,502,209\u3001$0.24\/ADA \u63db\u7b97\uff09<\/td><\/tr><tr><td>\u63d0\u6848\u8005<\/td><td>Input Output Global + Midgard Labs\uff08co-venture\uff09<\/td><\/tr><tr><td>\u671f\u9593<\/td><td>Q3 2026 \u301c Q1 2027<\/td><\/tr><tr><td>\u7ba1\u7406<\/td><td>Intersect \/ Sundae Labs treasury-contracts<\/td><\/tr><tr><td>\u63d0\u51fa<\/td><td>2026\u5e744\u670822\u65e5\uff08Epoch 626\uff09<\/td><\/tr><tr><td>\u5931\u52b9<\/td><td>2026\u5e745\u670825\u65e5\uff08Epoch 633\uff09<\/td><\/tr><tr><td>Governance Action ID<\/td><td>gov_action1w0shrfxqwv95kk0v4cn34wylz25a2cmqkq5jpc0e2yrahhqava3qghg4q43<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-dfc26a0\"><strong>3 \u3064\u306e\u30ef\u30fc\u30af\u30b9\u30c8\u30ea\u30fc\u30e0:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-9bb9f1a\"><table><thead><tr><th>WS<\/th><th>\u540d\u79f0<\/th><th>\u898f\u6a21<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>WS1<\/td><td><strong>L2-Agnostic Infrastructure<\/strong><\/td><td>\u20b31,895,613 (18%)<\/td><td>\u5168 Cardano L2 \u304c\u5171\u6709\u3059\u308b Data Availability (DA) Strategy + Prototype<\/td><\/tr><tr><td>WS2<\/td><td><strong>Hydra Production Hardening<\/strong><\/td><td>\u20b37,582,452 (73%)<\/td><td>DAG-Hydra feasibility \/ DeFi reference impl \/ performance opt \/ operational excellence \/ ecosystem support<\/td><\/tr><tr><td>WS3<\/td><td><strong>Midgard Mainnet Launch<\/strong><\/td><td>\u20b3947,806 (9%)<\/td><td>Penetration testing \u2192 2026 \u672b mainnet \u30ed\u30fc\u30f3\u30c1<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-6acbc20\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-c284f17\" id=\"e794b0e5b9b3e6b08fe688a6e795a5e38395e383ace383bce3839fe383b3e382b0-leios-l2-e381a7e382b9e382b1e383bce383aae383b3e382b0e5ae8ce68890-3\">\u7530\u5e73\u6c0f\u6226\u7565\u30d5\u30ec\u30fc\u30df\u30f3\u30b0: Leios + L2 \u3067\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u5b8c\u6210<\/h2>\n\n\n\n<p class=\"deb-block deb-block-8530a16\">Cardano \u306e\u73fe\u5728\u306e L1 \u6027\u80fd\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u7d04 7-10 TPS<\/strong>\uff08\u7af6\u5408 Solana\/Sui: 1,000-7,000+ TPS\uff09<\/li><li><strong>\u7d04 2 \u6642\u9593 finality<\/strong>\uff08\u7af6\u5408: 400ms-2s\uff09<\/li><li><strong>\u7d04 $0.17\/tx<\/strong>\uff08\u7af6\u5408: sub-cent\uff09<\/li><\/ul>\n\n\n\n<p class=\"deb-block deb-block-594ea57\">\u3053\u308c\u3089\u306e\u6027\u80fd\u30ae\u30e3\u30c3\u30d7\u304c\u539f\u56e0\u3067\u3001<strong>\u9ad8\u6027\u80fd vertical<\/strong>\uff08DeFi\u3001AI \u30a8\u30fc\u30b8\u30a7\u30f3\u30c8 micropayments\u3001gaming\u3001consumer payments\uff09\u306f <strong>\u6280\u8853\u8a55\u4fa1\u304c\u59cb\u307e\u308b\u524d\u304b\u3089 Cardano \u3092 pre-selection \u6bb5\u968e\u3067\u9664\u5916<\/strong> \u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-1ea3c1c\"><table><thead><tr><th>Layer<\/th><th>Cardano 2030 \u30bf\u30fc\u30b2\u30c3\u30c8\u89e3\u6c7a\u624b\u6bb5<\/th><\/tr><\/thead><tbody><tr><td><strong>L1<\/strong><\/td><td><strong>Leios<\/strong> \u3067 10-65 \u500d throughput \u62e1\u5f35\uff08\u672c\u30e9\u30a6\u30f3\u30c9 YES\uff09<\/td><\/tr><tr><td><strong>L2<\/strong><\/td><td><strong>Hydra + Midgard<\/strong> \u3067 10,000+ TPS \/ sub-second finality \/ sub-cent fees\uff08\u672c\u63d0\u6848\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-07400bc\"><strong>\u3053\u306e 2 \u5c64\u8a2d\u8a08\u3053\u305d\u304c\u3001Cardano \u304c finality\u30fbfee\u30fbthroughput \u306e 3 \u8ef8\u5168\u3066\u3067\u7af6\u4e89\u529b\u3092\u7372\u5f97\u3057\u3001\u6280\u8853\u8a55\u4fa1\u4ee5\u524d\u3067\u9664\u5916\u3055\u308c\u306a\u3044\u72b6\u614b\u3092\u5b9f\u73fe\u3059\u308b\u5de5\u5b66\u7684\u30d1\u30c3\u30b1\u30fc\u30b8<\/strong> \u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-a39f3fe\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-1243f6b\" id=\"e382b9e382b3e383bce38397e8a995e4bea1-4\">\u30b9\u30b3\u30fc\u30d7\u8a55\u4fa1<\/h2>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-f58b38c\" id=\"hydra-e381a8-midgard-e381afe7abb6e59088e381a7e381afe381aae3818fe8a39ce5ae8c-5\">Hydra \u3068 Midgard \u306f\u7af6\u5408\u3067\u306f\u306a\u304f\u88dc\u5b8c<\/h3>\n\n\n\n<p class=\"deb-block deb-block-cdb6efc\">\u4e21\u8005\u306f <strong>\u7570\u306a\u308b trust model \u306b\u5bfe\u5fdc\u3059\u308b<\/strong>\u3001\u6839\u672c\u7684\u306b\u88dc\u5b8c\u7684\u306a L2 \u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3067\u3059\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-37c7bc2\"><table><thead><tr><th>\u7279\u6027<\/th><th><strong>Hydra<\/strong><\/th><th><strong>Midgard<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Trust model<\/strong><\/td><td>Known-party\uff08\u53c2\u52a0\u8005\u5168\u54e1\u4e8b\u524d\u5408\u610f + \u30aa\u30f3\u30e9\u30a4\u30f3\uff09<\/td><td>Open \/ permissionless<\/td><\/tr><tr><td><strong>\u5bfe\u8c61\u30a2\u30d7\u30ea<\/strong><\/td><td>AI \u30a8\u30fc\u30b8\u30a7\u30f3\u30c8 network (Masumi)\u3001B2B \u6c7a\u6e08\u3001gaming<\/td><td>Public DEX\u3001lending\u3001NFT \u30de\u30fc\u30b1\u30c3\u30c8\u3001consumer apps<\/td><\/tr><tr><td><strong>finality<\/strong><\/td><td>Sub-second<\/td><td>1-2 \u79d2<\/td><\/tr><tr><td><strong>\u624b\u6570\u6599<\/strong><\/td><td>Near-zero<\/td><td>Sub-$0.01<\/td><\/tr><tr><td><strong>\u65e2\u5b58 builders<\/strong><\/td><td>Delta DeFi\u3001Masumi\u3001Midnight Glacier Drop<\/td><td>Midgard testnet<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-a67e14b\"><strong>\u4e00\u65b9\u306e\u307f\u3078\u306e\u8cc7\u91d1\u63d0\u4f9b\u3067\u306f meaningful coverage gap \u304c\u6b8b\u308a\u307e\u3059<\/strong>\u3002\u4e21\u8005\u7d44\u307f\u5408\u308f\u3055\u308b\u3053\u3068\u3067 Cardano \u9ad8\u6027\u80fd\u30a2\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u5168\u30b9\u30da\u30af\u30c8\u30e9\u30e0\u306b\u5bfe\u5fdc\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-1f137a5\" id=\"hydra-hardening-e3818ce4bf9de8adb7e38199e3828b-3-e381a4e381aee383a9e382a4e38396e382b3e3839fe38383e38388e383a1e383b3e38388-6\">Hydra hardening \u304c\u4fdd\u8b77\u3059\u308b 3 \u3064\u306e\u30e9\u30a4\u30d6\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8<\/h3>\n\n\n\n<p class=\"deb-block deb-block-dea884e\">WS2 (\u20b37.58M \/ 73%) \u306f\u3001\u4ee5\u4e0b\u306e <strong>\u65e2\u306b Cardano \u4e0a\u3067\u69cb\u7bc9\u4e2d\u306e\u30d7\u30ed\u30c0\u30af\u30b7\u30e7\u30f3\u30d7\u30ed\u30b8\u30a7\u30af\u30c8<\/strong> \u3092\u76f4\u63a5\u4fdd\u8b77\u3057\u307e\u3059\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-c8879ec\"><table><thead><tr><th>\u30d7\u30ed\u30b8\u30a7\u30af\u30c8<\/th><th>Hydra \u3078\u306e\u4f9d\u5b58<\/th><\/tr><\/thead><tbody><tr><td><strong>Delta DeFi<\/strong><\/td><td>Hydra \u30d9\u30fc\u30b9 DEX \u3092\u69cb\u7bc9 \u2014 <strong>SIPO \u306f 2026\/01 \u306b DeltaDeFi Hydra Trading Infrastructure Budget (\u20b31.5M) \u306b YES<\/strong>\u3002\u672c\u63d0\u6848\u306f\u305d\u306e\u8ecc\u9053\u306e\u7d99\u7d9a<\/td><\/tr><tr><td><strong>Masumi<\/strong><\/td><td>L1 \u5358\u72ec\u3067\u306f\u7dad\u6301\u3067\u304d\u306a\u3044 M2M micropayment \u30a4\u30f3\u30d5\u30e9<\/td><\/tr><tr><td><strong>Midgard<\/strong><\/td><td>Hydra \u30d9\u30fc\u30b9 fast-withdrawal \u7d71\u5408<\/td><\/tr><tr><td><strong>Midnight Glacier Drop<\/strong><\/td><td>\u65e2\u306b 30M+ \u30e6\u30fc\u30b6\u30fc \/ 8 \u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u3067 token distribution \u51e6\u7406\u3092\u5b9f\u8a3c<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-82b628d\">\u3053\u308c\u3089 builders \u306e Cardano \u4e0a\u3067\u306e\u30b9\u30b1\u30fc\u30eb\u5931\u6557\u306f\u3001\u7af6\u5408\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3078\u306e migration \u3092\u610f\u5473\u3057\u307e\u3059\u3002\u3053\u308c\u306f Cardano \u306e\u9577\u671f\u7af6\u4e89\u529b\u306b\u5bfe\u3059\u308b\u6df1\u523b\u306a\u9006\u98a8\u3068\u306a\u308b\u305f\u3081\u3001Hydra hardening \u306f\u9632\u5fa1\u7684\u306b\u3082 attacking \u7684\u306b\u3082\u91cd\u8981\u306a\u6295\u8cc7\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-eef5720\" id=\"midgard-e381ae-cardano-native-e6a78be980a0e79a84e584aae4bd8de680a7-7\">Midgard \u306e Cardano-native \u69cb\u9020\u7684\u512a\u4f4d\u6027<\/h3>\n\n\n\n<p class=\"deb-block deb-block-4b1f25b\"><strong>Midgard \u306f Cardano \u306e EUTXO \u30e2\u30c7\u30eb\u3092\u6d3b\u7528\u3057\u305f UTxO \u30d9\u30fc\u30b9 optimistic rollup<\/strong> \u3067\u3059\u3002Ethereum L2 \u3068\u6c7a\u5b9a\u7684\u306b\u7570\u306a\u308b\u70b9\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Ethereum L2<\/strong>: multi-round challenge-response games \u2014 fraud proof \u304c\u904b\u7528\u7684\u306b\u8907\u96d1\u3001operator coordination overhead \u5927<\/li><li><strong>Midgard<\/strong>: <strong>single-party fraud proof<\/strong> \u2014 1 \u3064\u306e L1 \u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u3067 invalidity \u3092\u8a3c\u660e\u3057\u60aa\u610f\u3042\u308b operator \u3092 slash<\/li><\/ul>\n\n\n\n<p class=\"deb-block deb-block-23c96d7\"><strong>\u3053\u306e architectural simplification \u306f account-based chains \u3067\u540c\u7b49\u306e\u5358\u7d14\u3055\u3067\u518d\u73fe\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002<\/strong> Cardano Architecture Paradigm Shift \u30c9\u30af\u30c8\u30ea\u30f3\u306e\u5b9f\u88c5\u4e8b\u4f8b\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-4bb158a\" id=\"ws1-da-e585b1e69c89e382a4e383b3e38395e383a9e381aee688a6e795a5e79a84e6848fe591b3-8\">WS1 DA \u5171\u6709\u30a4\u30f3\u30d5\u30e9\u306e\u6226\u7565\u7684\u610f\u5473<\/h3>\n\n\n\n<p class=\"deb-block deb-block-b41a4f8\">WS1 (\u20b31.90M \/ 18%) \u306f\u5358\u4e00 L2 \u3067\u306f\u306a\u304f <strong>\u5168\u73fe\u5728\u304a\u3088\u3073\u5c06\u6765\u306e Cardano L2 \u304c\u5171\u6709\u3059\u308b Data Availability \u5c64<\/strong> \u3092\u69cb\u7bc9\u3057\u307e\u3059\u3002\u3053\u308c\u306f\u4ee5\u4e0b\u306e\u6226\u7565\u7684\u4fa1\u5024\u3092\u6301\u3061\u307e\u3059\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u65ad\u7247\u5316\u9632\u6b62<\/strong> \u2014 \u5404 L2 \u304c\u500b\u5225\u306b DA \u5c64\u3092\u69cb\u7bc9\u3059\u308b\u975e\u52b9\u7387\u56de\u907f<\/li><li><strong>\u5171\u6709\u516c\u5171\u8ca1<\/strong> \u2014 \u4e00\u5ea6\u306e\u6295\u8cc7\u3067\u5168 L2 \u304c benefit<\/li><li><strong>\u5c06\u6765\u306e L2 \u53c2\u5165\u969c\u58c1\u4f4e\u4e0b<\/strong> \u2014 DA \u5c64\u304c\u65e2\u306b\u5b58\u5728\u3059\u308b\u3053\u3068\u3067\u65b0\u898f L2 \u958b\u767a\u52a0\u901f<\/li><\/ul>\n\n\n\n<p class=\"deb-block deb-block-d50c287\">\u3053\u308c\u306f SIPO \u304c alt-clients \u7528\u306e Cardano Blueprint\uff08\u672c\u30e9\u30a6\u30f3\u30c9 Maintenance \u63d0\u6848\u4e0b\uff09\u306b\u9069\u7528\u3057\u305f\u306e\u3068\u540c\u3058\u300c<strong>\u5171\u6709\u30a4\u30f3\u30d5\u30e9 \u2192 \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u8907\u5229\u6210\u9577<\/strong>\u300d\u306e\u8ad6\u7406\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading deb-block deb-block-0cca23b\" id=\"pillar-5-e6a78be980a0e79a84e5ae9fe8a385-treasury-e98284e58583e383a1e382abe3838be382bae383a0-9\">Pillar 5 \u69cb\u9020\u7684\u5b9f\u88c5: Treasury \u9084\u5143\u30e1\u30ab\u30cb\u30ba\u30e0<\/h3>\n\n\n\n<p class=\"deb-block deb-block-df5efc8\"><strong>Midgard \u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u306f L2 sequencer revenue \u306e\u4e00\u90e8\u3092 Cardano Treasury \u306b\u76f4\u63a5\u9084\u5143\u3059\u308b\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u660e\u793a\u7684\u306b\u542b\u307f\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-98ee9c0\">\u3053\u308c\u306f Optimism Superchain \u30ac\u30d0\u30ca\u30f3\u30b9\u304c Base \u304b\u3089 OP Collective \u306b\u4fa1\u5024\u3092\u9084\u5143\u3059\u308b\u4ed5\u7d44\u307f\u3068\u540c\u69d8\u306e\u6982\u5ff5\u3067\u3001<strong>Pillar 5 Focus Area E.1\uff08Treasury \u3092 passive pool \u304b\u3089 yield-generating multi-asset reserve \u3078\u9032\u5316\uff09\u306e\u69cb\u9020\u7684\u5b9f\u88c5<\/strong> \u3067\u3059\u3002Midgard Labs co-venture \u81ea\u4f53\u3082 SIPO \u306e stewardship \u5206\u6563\u30c9\u30af\u30c8\u30ea\u30f3\u3092\u62e1\u5f35\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-56f39b7\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-f15e72f\" id=\"e382ace38390e3838ae383b3e382b9e6a78be980a0-10\">\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020<\/h2>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-a466488\"><table><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>\u7ba1\u7406\u8005<\/td><td>Intersect\uff083 admin + 2 leadership \u5f79\u5272\uff09<\/td><\/tr><tr><td>Smart Contract<\/td><td>Sundae Labs treasury-contracts\uff08TxPipe \/ MLabs \u76e3\u67fb\u6e08\u307f\uff09<\/td><\/tr><tr><td>Oversight Committee<\/td><td>Sundae Labs \/ Cardano Foundation \/ Dquadrant \/ Xerberus \/ NMKR<\/td><\/tr><tr><td>Refund Clause<\/td><td>\u672a\u4f7f\u7528\u8cc7\u91d1\u306f\u6bd4\u4f8b\u8fd4\u9084<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-54a490a\">SIPO \u304c\u4e00\u8cab\u652f\u6301\u3057\u3066\u304d\u305f\u6a19\u6e96\u3068\u5b8c\u5168\u540c\u4e00\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-b7df016\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-3d48a80\" id=\"cardano-2030-e695b4e59088-11\">Cardano 2030 \u6574\u5408<\/h2>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-4f7e352\"><table><thead><tr><th>Pillar<\/th><th>\u6574\u5408\u5ea6<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>Pillar 1: Infrastructure &amp; Research Excellence<\/td><td>Yes: Fully<\/td><td>\u5171\u6709 DA\u3001Hydra\u30fbMidgard production infra<\/td><\/tr><tr><td>Pillar 2: Adoption &amp; Utility<\/td><td>Yes: Fully<\/td><td>DeFi\/AI\/gaming\/payments \u306e\u5168 vertical \u3092 pre-selection \u6bb5\u968e\u3067\u78ba\u4fdd<\/td><\/tr><tr><td>Pillar 3: Governance<\/td><td>N\/A<\/td><td>\u2014<\/td><\/tr><tr><td>Pillar 4: Community &amp; Ecosystem Growth<\/td><td>Yes: Fully<\/td><td>Pre-selection \u554f\u984c\u89e3\u6c7a + L2 Working Group<\/td><\/tr><tr><td>Pillar 5: Ecosystem Sustainability &amp; Resilience<\/td><td>Yes: Fully<\/td><td>Treasury \u9084\u5143\u30e1\u30ab\u30cb\u30ba\u30e0 + Midgard Labs co-venture<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-7e6151e\"><strong>4 Pillar \u3067\u300cYes: Fully\u300d<\/strong> \u3068\u3044\u3046\u6975\u3081\u3066\u9ad8\u3044\u6574\u5408\u6027\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-72c388b\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-f6f7203\" id=\"e4ba88e7ae97e8a68fe5be8b-12\">\u4e88\u7b97\u898f\u5f8b<\/h2>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-7258040\"><table><thead><tr><th>\u914d\u5206<\/th><th>ADA<\/th><th>\u6bd4\u7387<\/th><\/tr><\/thead><tbody><tr><td>Development<\/td><td>\u20b38,966,249<\/td><td>86%<\/td><\/tr><tr><td>Engagement &amp; Ecosystem support<\/td><td>\u20b3625,552<\/td><td>6%<\/td><\/tr><tr><td>Operations &amp; Delivery<\/td><td>\u20b3312,776<\/td><td>3%<\/td><\/tr><tr><td>\u305d\u306e\u4ed6<\/td><td>\u5404 \u20b3104,259<\/td><td>\u5404 1%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"deb-block deb-block-cacbbdd\">86% Development \u914d\u5206\u306f\u6a19\u6e96\u3002Net Change Limit \u306b\u53ce\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-e7efb15\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-587424a\" id=\"e382b9e382bfe383b3e382b9e4b880e8b2abe680a7-13\">\u30b9\u30bf\u30f3\u30b9\u4e00\u8cab\u6027<\/h2>\n\n\n\n<figure class=\"wp-block-table deb-block deb-block-9d4b0fc\"><table><thead><tr><th>\u904e\u53bb YES<\/th><th>\u8a72\u5f53\u8ef8<\/th><th>\u672c\u63d0\u6848\u3068\u306e\u95a2\u4fc2<\/th><\/tr><\/thead><tbody><tr><td><strong>DeltaDeFi Hydra Trading Infrastructure Budget<\/strong> (2026\/01)<\/td><td>\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u6210\u9577<\/td><td>\u672c\u63d0\u6848 WS2 \u306f\u305d\u306e\u76f4\u63a5\u7d99\u7d9a<\/td><\/tr><tr><td>Amaru \/ Dingo<\/td><td>\u30d7\u30ed\u30c8\u30b3\u30eb\u591a\u69d8\u6027<\/td><td>DA \u5171\u6709\u30a4\u30f3\u30d5\u30e9\u306f alt-client \u601d\u60f3\u3068\u6574\u5408<\/td><\/tr><tr><td>Orion Fund<\/td><td>\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u6210\u9577<\/td><td>L2 \u304c attract \u3059\u308b builders \u3068 integrate<\/td><\/tr><tr><td>Cardano Critical Integrations<\/td><td>\u91cd\u8981\u7d71\u5408<\/td><td>L2 = \u91cd\u8981\u7d71\u5408\u306e\u5ef6\u9577<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-c149a9f\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-fdce2f2\" id=\"e69c9fe5be85e4ba8be9a085efbc88yes-e381abe381afe6988ee7a2bae381aae69da1e4bbb6e3818ce4bcb4e38186efbc89-14\">\u671f\u5f85\u4e8b\u9805\uff08YES \u306b\u306f\u660e\u78ba\u306a\u6761\u4ef6\u304c\u4f34\u3046\uff09<\/h2>\n\n\n\n<p class=\"deb-block deb-block-8f1e6f3\">SIPO \u306e YES \u306f\u7121\u6761\u4ef6\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u4ee5\u4e0b\u3092\u62d8\u675f\u529b\u306e\u3042\u308b\u904b\u7528\u4e0a\u306e\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3068\u3057\u3066\u671f\u5f85\u3057\u307e\u3059\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>WS3 Midgard multi-operator coordination \u900f\u660e\u6027<\/strong>\uff1a\u63d0\u6848\u66f8\u81ea\u8eab\u304c\u300c<strong>\u6700\u3082\u8907\u96d1\u306a\u30a8\u30f3\u30b8\u30cb\u30a2\u30ea\u30f3\u30b0\u8ab2\u984c<\/strong> (High likelihood \/ High severity risk)\u300d\u3068\u5206\u985e\u3059\u308b WS3 mainnet activation \u306b\u3064\u3044\u3066\u3001testnet \u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u9032\u6357\u306e\u6708\u6b21\u53ef\u8996\u6027\u3092\u671f\u5f85<\/li><\/ol>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>DA strategy Stage 1 \u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u30a4\u30f3\u30d7\u30c3\u30c8<\/strong>\uff1aStage 2 \u304c\u7279\u5b9a\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u306b commit \u3059\u308b\u524d\u306b\u3001L2 teams \/ SPO \/ DRep \u304b\u3089\u306e\u516c\u958b\u30a4\u30f3\u30d7\u30c3\u30c8 \u2014 \u8aa4\u3063\u305f\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u9078\u629e\u306f\u5168 L2 \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306b\u9577\u671f\u6280\u8853\u50b5\u52d9\u3092\u751f\u3080<\/li><\/ol>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Midgard sequencer \u2192 Treasury return mechanism \u4ed5\u69d8<\/strong>\uff1aQ4 2026 \u307e\u3067\u306b return \u7387\u3001\u30bf\u30a4\u30df\u30f3\u30b0\u30c8\u30ea\u30ac\u30fc\u6761\u4ef6\u3001\u8a08\u7b97\u65b9\u6cd5\u8ad6\u306e\u516c\u958b\uff08Treasury \u6295\u8cc7\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3068\u3057\u3066\u4ed6\u6848\u4ef6\u3067\u671f\u5f85\u3059\u308b\u306e\u3068\u540c\u30ec\u30d9\u30eb\u306e\u5177\u4f53\u6027\uff09<\/li><\/ol>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Hydra reference implementation \u5229\u7528\u7387 KPI<\/strong>\uff1aDelta DeFi \/ Masumi \/ Midgard \u3068\u306e <strong>documented integration<\/strong> \u3092\u4f34\u3046\u56db\u534a\u671f KPI\uff08code delivery \u3060\u3051\u3067\u306a\u304f\uff09<\/li><\/ol>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Hydra vs Midgard trust model educational material<\/strong>\uff1a\u4e21\u8005\u304c\u30a2\u30af\u30c6\u30a3\u30d6\u3068\u306a\u308b\u4e2d\u3067\u306e\u300c\u3069\u3061\u3089\u3092\u4f7f\u3046\u304b\u300d\u306e\u6df7\u4e71\u56de\u907f\u306e\u305f\u3081\u3001SPO \/ builder \/ DRep \u5411\u3051 educational material \u516c\u958b<\/li><\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-d52397d\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-69bb0bd\" id=\"e7b590e381b3-15\">\u7d50\u3073<\/h2>\n\n\n\n<p class=\"deb-block deb-block-8fdeb51\">Leios \u3068\u7d44\u307f\u5408\u308f\u3055\u308b\u3053\u3068\u3067\u3001\u672c\u63d0\u6848\u306f <strong>Cardano \u306e 2 \u5c64\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u3092\u5b8c\u6210<\/strong> \u3055\u305b\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>WS2<\/strong> \u306f SIPO \u304c essential \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u30b7\u30b0\u30ca\u30eb\u3068\u8003\u3048\u308b 3 \u3064\u306e\u30e9\u30a4\u30d6\u30d7\u30ed\u30c0\u30af\u30b7\u30e7\u30f3\u30fb\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8 (Delta DeFi\u3001Masumi\u3001Midgard) \u3092\u4fdd\u8b77<\/li><li><strong>WS1<\/strong> \u306f\u5168 Cardano L2 \u306e\u5171\u6709\u30a4\u30f3\u30d5\u30e9\u3092\u69cb\u7bc9<\/li><li><strong>WS3<\/strong> \u306f account-based chains \u304c\u518d\u73fe\u3067\u304d\u306a\u3044\u69cb\u9020\u7684 EUTXO \u512a\u4f4d\u6027\u3092\u6d3b\u7528\u3057\u3001Cardano \u521d\u306e permissionless optimistic rollup \u3092 mainnet \u306b\u5c0e\u304f<\/li><\/ul>\n\n\n\n<p class=\"deb-block deb-block-4e0a0e2\">\u671f\u5f85\u4e8b\u9805\u304c\u62d8\u675f\u529b\u306e\u3042\u308b\u904b\u7528\u4e0a\u306e\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u3053\u3068\u3092\u524d\u63d0\u3068\u3057\u3066\u3001SIPO DRep \u306f\u672c\u63d0\u6848\u306b\u8cdb\u6210\uff08YES\uff09\u3092\u6295\u3058\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-b21ff25\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-6971895\" id=\"sipo-drep-why-we-vote-yes-on-io-midgard-labs-l2-scalability-initiative-16\">SIPO DRep: Why We Vote YES on &#8220;IO &amp; Midgard Labs: L2 Scalability Initiative&#8221;<\/h2>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-f5d19b2\" id=\"introduction-17\">Introduction<\/h2>\n\n\n\n<p class=\"deb-block deb-block-fa481b6\">This article presents SIPO DRep&#8217;s analysis and decision on the governance action &#8220;IO &amp; Midgard Labs: L2 Scalability Initiative&#8221;, submitted on April 22, 2026 (Epoch 626).<\/p>\n\n\n\n<p class=\"deb-block deb-block-fe317e6\">The proposal is a co-venture between Input Output (IO) and Midgard Labs requesting <strong>\u20b310,425,871 (USD $2,502,209)<\/strong>. Three workstreams: L2-Agnostic Infrastructure (DA solution), Hydra Production Hardening, and Midgard Mainnet Launch.<\/p>\n\n\n\n<p class=\"deb-block deb-block-512f91d\"><strong>SIPO votes YES on this proposal.<\/strong><\/p>\n\n\n\n<p class=\"deb-block deb-block-e197006\">Together with Leios (also under SIPO YES vote in this round), this proposal completes Cardano&#8217;s two-layer scaling architecture: L1 throughput at 10-65x via Leios, L2 throughput at 10,000+ TPS via Hydra and Midgard.<\/p>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-b99e426\" id=\"why-sipo-votes-yes-18\">Why SIPO Votes YES<\/h2>\n\n\n\n<p class=\"deb-block deb-block-738647f\"><strong>1. Hydra and Midgard are complementary, not competing.<\/strong> Hydra for known-party, high-frequency environments (Masumi AI agents, B2B rails, gaming). Midgard for open, permissionless environments (public DEXs, lending, NFTs, consumer apps). The distinction is trust model, not feature overlap.<\/p>\n\n\n\n<p class=\"deb-block deb-block-e5ea4bb\"><strong>2. Hydra hardening protects three live production commitments<\/strong> \u2014 Delta DeFi (Hydra-based DEX, building on the SIPO-approved DeltaDeFi Hydra Trading Infrastructure Budget), Masumi (M2M micropayment infrastructure), and Midgard (Hydra-based fast-withdrawal).<\/p>\n\n\n\n<p class=\"deb-block deb-block-aaa6da5\"><strong>3. Midgard is structurally Cardano-native<\/strong> \u2014 a UTxO-based optimistic rollup with single-party fraud proofs. This architectural simplification cannot be replicated with equivalent simplicity on account-based chains.<\/p>\n\n\n\n<p class=\"deb-block deb-block-e99de2c\"><strong>4. WS1 builds shared infrastructure for every Cardano L2<\/strong> (DA solution), and the Midgard architecture explicitly routes a portion of L2 sequencer revenue back to the Cardano Treasury \u2014 a structural implementation of Pillar 5 E.1.<\/p>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-f1953a7\" id=\"expectations-19\">Expectations<\/h2>\n\n\n\n<p class=\"deb-block deb-block-9131a10\">SIPO&#8217;s YES is conditional on:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>WS3 Midgard multi-operator coordination transparency (monthly visibility on the most complex engineering challenge)<\/li><li>DA strategy Stage 1 community input (before Stage 2 architecture commits)<\/li><li>Midgard sequencer-to-Treasury return mechanism specification published by Q4 2026<\/li><li>Hydra reference implementation utilization KPIs (Delta DeFi, Masumi, Midgard documented integration)<\/li><li>Hydra vs Midgard trust model educational material<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-82ba489\" id=\"closing-20\">Closing<\/h2>\n\n\n\n<p class=\"deb-block deb-block-b7b9294\">Together with Leios, this proposal completes Cardano&#8217;s two-layer scaling architecture. With expectations above treated as binding operational commitments, SIPO DRep votes YES.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity deb-block deb-block-823c3aa\"\/>\n\n\n\n<h2 class=\"wp-block-heading deb-block deb-block-dd281b2\" id=\"references-21\">References<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Proposal IPFS: https:\/\/ipnso-com.ipns.dweb.link\/?cid=QmYfHrmfTKYGK9YR95ewXSwEruEfGPAtpnp1qwoEUekJa7<\/li><li>Governance Action: https:\/\/gov.tools\/connected\/governance_actions\/73e171a4c0730b4b59ecae271ab89f12a9d56360b02920e1f95107dbdc1d6762#4<\/li><li>Hydra Head Protocol: https:\/\/hydra.family\/<\/li><li>Midgard documentation<\/li><li>Cardano 2030 Strategy: https:\/\/product.cardano.intersectmbo.org\/vision\/strategy-2030\/<\/li><li>\u95a2\u9023 SIPO \u6295\u7968\uff08\u672c\u30e9\u30a6\u30f3\u30c9\uff09: Leios\uff08YES\uff09\/ IO Cardano Upgrades\uff08YES\uff09\/ Pogun\uff08YES\uff09<\/li><li>\u95a2\u9023 SIPO \u904e\u53bb\u6295\u7968: DeltaDeFi Hydra Trading Infrastructure Budget\uff08YES, 2026\/01\uff09\/ Amaru\uff08YES\uff09\/ Dingo\uff08YES\uff09\/ Orion Fund\uff08YES, \u6761\u4ef6\u4ed8\u304d\uff09<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"SIPO DRep \u306e\u5206\u6790\u3068\u5224\u65ad\u3002Hydra hardening + Midgard mainnet + L2-Agnostic DA \u306e 3 \u30ef\u30fc\u30af\u30b9\u30c8\u30ea\u30fc\u30e0\u63d0\u6848 \u20b310.43M \u306b\u5bfe\u3057 SIPO \u306f\u8cdb\u6210\uff08YES\uff09\u3002Leios \u3068\u7d44\u307f\u5408\u308f\u3055\u308b\u3053\u3068\u3067 Cardano \u306e 2 \u5c64\u30b9\u30b1\u30fc\u30ea\u30f3\u30b0\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u304c\u5b8c\u6210\u3002Delta DeFi \/ Masumi \/ Midgard 3 \u30e9\u30a4\u30d6\u30d7\u30ed\u30c0\u30af\u30b7\u30e7\u30f3\u3092\u4fdd\u8b77\u3002","protected":false},"author":1,"featured_media":45814,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[307,21,35,28,1],"tags":[317,331,319,165,389,391,387,377,393,321],"class_list":{"0":"post-45803","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","12":"tag-cardano","13":"tag-cardano-2030","14":"tag-drep","15":"tag-hydra","16":"tag-l2","17":"tag-layer-2","18":"tag-midgard","19":"tag-midgard-labs","20":"tag-scalability","21":"tag-treasury-withdrawal"},"featured_image_urls":{"full":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2.png",1456,816,false],"thumbnail":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-150x150.png",150,150,true],"medium":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-300x168.png",300,168,true],"medium_large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-768x430.png",768,430,true],"large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-1024x574.png",900,504,true],"1536x1536":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2.png",1456,816,false],"2048x2048":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2.png",1456,816,false],"dp-widget-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-140x96.png",140,96,true],"dp-widget-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-280x192.png",280,192,true],"dp-related-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-250x154.png",250,154,true],"dp-related-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-500x308.png",500,308,true],"dp-archive-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-450x252.png",450,252,true],"dp-archive-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/05\/sition_sipo_two_parallel_translucent_L2_layers_floating_above_dc9ab80a-3e48-4ea6-8681-229e44b45346_2-900x504.png",900,504,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\/45803","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=45803"}],"version-history":[{"count":1,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/45803\/revisions"}],"predecessor-version":[{"id":45824,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/posts\/45803\/revisions\/45824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=\/wp\/v2\/media\/45814"}],"wp:attachment":[{"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sipo.tokyo\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}