{"id":46007,"date":"2026-06-01T10:25:15","date_gmt":"2026-06-01T01:25:15","guid":{"rendered":"https:\/\/sipo.tokyo\/?p=46007"},"modified":"2026-06-01T10:25:15","modified_gmt":"2026-06-01T01:25:15","slug":"post-46007","status":"publish","type":"post","link":"https:\/\/sipo.tokyo\/?p=46007","title":{"rendered":"SIPO DRep\uff1a\u300eTweag Core Cardano Infrastructure\uff08Treasury Withdrawal 2026\u20132028\uff09\u300f\u63d0\u6848\u3092\u3069\u3046\u8003\u3048\u308b\u304b\u2015 SIPO DRep \u306e\u5206\u6790\u3068\u300cAbstain\uff08\u68c4\u6a29\uff09\u300d\u8a55\u4fa1\u3001\u30b9\u30bf\u30f3\u30b9"},"content":{"rendered":"<p><!--\n  WordPress \u8cbc\u4ed8\u7528 HTML\uff08post body fragment \/ H1 \u306a\u3057\uff09\u3002\n  \u30fb\u30bf\u30a4\u30c8\u30eb\uff08WP \u30bf\u30a4\u30c8\u30eb\u6b04\u3078\uff09: SIPO DRep\uff1a\u300eTweag Core Cardano Infrastructure\uff08Treasury Withdrawal 2026\u20132028\uff09\u300f\u63d0\u6848\u3092\u3069\u3046\u8003\u3048\u308b\u304b\u2015 SIPO DRep \u306e\u5206\u6790\u3068\u300cAbstain\uff08\u68c4\u6a29\uff09\u300d\u8a55\u4fa1\u3001\u30b9\u30bf\u30f3\u30b9\n  \u30fb\u8cbc\u4ed8\u65b9\u6cd5: WP \u30d6\u30ed\u30c3\u30af\u30a8\u30c7\u30a3\u30bf\u3092\u300c\u30b3\u30fc\u30c9\u30a8\u30c7\u30a3\u30bf\u30fc\u300d\u306b\u5207\u66ff\u3048\u3066\u8cbc\u4ed8\u3001\u307e\u305f\u306f\u300c\u30ab\u30b9\u30bf\u30e0 HTML\u300d\u30d6\u30ed\u30c3\u30af\u306b\u8cbc\u4ed8\u3002\n  \u30fb\u5a92\u4f53\u306e\u58f0\u306f SIPO\u30fb\u500b\u4eba\u540d\u306a\u3057\u30fb\u4e2d\u7acb\u30c8\u30fc\u30f3\u3002\n--><\/p>\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=\"#tweag-core-cardano-infrastructure-treasury-withdrawal-2026-2028-1\">Tweag Core Cardano Infrastructure: Treasury Withdrawal 2026\u20132028<\/a><\/li><li><a href=\"#tweag-core-cardano-infrastructure-e38292e381a9e38186e8a68be3828be3818b-e28095-sipo-drep-e381a8e38197e381a6e381aee58886e69e90e381a8e382b9e382bfe383b3-2\">Tweag Core Cardano Infrastructure \u3092\u3069\u3046\u898b\u308b\u304b \u2015 SIPO DRep \u3068\u3057\u3066\u306e\u5206\u6790\u3068\u30b9\u30bf\u30f3\u30b9<\/a><ul><li><a href=\"#e68f90e6a188e381aee6a682e8a681-3\">\u63d0\u6848\u306e\u6982\u8981<\/a><\/li><li><a href=\"#tweag-e381a8e381afe4bd95e3818b-e28095-cardano-e382a8e382b3e382b7e382b9e38386e383a0e381a7e381aee4bd8de7bdaee381a5e38191-4\">Tweag \u3068\u306f\u4f55\u304b \u2015 Cardano \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3067\u306e\u4f4d\u7f6e\u3065\u3051<\/a><\/li><li><a href=\"#e4bd95e381abe68a95e8b387e38199e3828be381aee3818b-5\">\u4f55\u306b\u6295\u8cc7\u3059\u308b\u306e\u304b<\/a><\/li><li><a href=\"#e382ace38390e3838ae383b3e382b9e381a8e694afe68995e38184e6a78be980a0-6\">\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u652f\u6255\u3044\u69cb\u9020<\/a><\/li><li><a href=\"#io-research-e381a8e381aee996a2e4bf82-e28095-e9878de8a487e3818be8a39ce5ae8ce3818b-7\">IO Research \u3068\u306e\u95a2\u4fc2 \u2015 \u91cd\u8907\u304b\u88dc\u5b8c\u304b<\/a><\/li><li><a href=\"#e381aae3819ce3808ce6a384e6a8a9efbc88abstainefbc89e3808de381aae381aee3818b-8\">\u306a\u305c\u300c\u68c4\u6a29\uff08Abstain\uff09\u300d\u306a\u306e\u304b<\/a><\/li><li><a href=\"#sipo-drep-e381a8e38197e381a6e381aee7b590e8ab96e383bbe382b9e382bfe383b3e382b9-9\">SIPO DRep \u3068\u3057\u3066\u306e\u7d50\u8ad6\u30fb\u30b9\u30bf\u30f3\u30b9<\/a><\/li><\/ul><\/li><li><a href=\"#how-sipo-views-tweag-core-cardano-infrastructure-2026-2028-a-drep-perspective-10\">How SIPO Views Tweag Core Cardano Infrastructure 2026\u20132028 \u2014 A DRep Perspective \u2014<\/a><ul><li><a href=\"#overview-11\">Overview<\/a><\/li><li><a href=\"#what-tweag-represents-12\">What Tweag Represents<\/a><\/li><li><a href=\"#governance-disbursement-13\">Governance &amp; Disbursement<\/a><\/li><li><a href=\"#relationship-to-io-research-14\">Relationship to IO Research<\/a><\/li><li><a href=\"#why-sipo-abstains-15\">Why SIPO Abstains<\/a><\/li><li><a href=\"#final-position-16\">Final Position<\/a><\/li><\/ul><\/div><h2 id=\"tweag-core-cardano-infrastructure-treasury-withdrawal-2026-2028-1\">Tweag Core Cardano Infrastructure: Treasury Withdrawal 2026\u20132028<\/h2>\n<ul>\n<li>Governance Action Type: Treasury Withdrawal\uff08\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\uff09<\/li>\n<li>\u63d0\u51fa: 2026\u5e744\u670830\u65e5\uff08Epoch 628\uff09<\/li>\n<li>\u5931\u52b9: 2026\u5e746\u67084\u65e5\uff08Epoch 635\uff09<\/li>\n<li>\u8981\u6c42\u984d: \u20b339,787,316\uff08\u7d04 USD 9,946,829\uff09<\/li>\n<li>\u63d0\u6848\u8005: Tweag by Modus Create<\/li>\n<li>Governance Action ID: <code>gov_action14u26vcn3wmcnhc5pqrt6494ypugr7c7f3e2ns60r32cntl6zjtxsqqgeu8p<\/code><\/li>\n<li>Legacy Governance Action ID (CIP-105): <code>af15a6627176f13be28100d7aa96a40f103f63c98e553869e38ab135ff4292cd#0<\/code><\/li>\n<li>gov.tools: <a href=\"https:\/\/gov.tools\/governance_actions\/af15a6627176f13be28100d7aa96a40f103f63c98e553869e38ab135ff4292cd#0\" target=\"_blank\" rel=\"noopener\">\u8a72\u5f53\u30ac\u30d0\u30ca\u30f3\u30b9\u30a2\u30af\u30b7\u30e7\u30f3\u3092\u958b\u304f<\/a><\/li>\n<li><strong>SIPO DRep \u30b9\u30bf\u30f3\u30b9: Abstain\uff08\u68c4\u6a29\uff09<\/strong><\/li>\n<\/ul>\n<h2 id=\"tweag-core-cardano-infrastructure-e38292e381a9e38186e8a68be3828be3818b-e28095-sipo-drep-e381a8e38197e381a6e381aee58886e69e90e381a8e382b9e382bfe383b3-2\">Tweag Core Cardano Infrastructure \u3092\u3069\u3046\u898b\u308b\u304b \u2015 SIPO DRep \u3068\u3057\u3066\u306e\u5206\u6790\u3068\u30b9\u30bf\u30f3\u30b9<\/h2>\n<h3 id=\"e68f90e6a188e381aee6a682e8a681-3\">\u63d0\u6848\u306e\u6982\u8981<\/h3>\n<p>\u672c\u63d0\u6848\u306f\u3001Cardano \u306e\u30b3\u30a2\u30a4\u30f3\u30d5\u30e9\u958b\u767a\u3092\u62c5\u3046 Tweag by Modus Create \u304c\u30012026\u301c2028 \u5e74\u306b\u304b\u3051\u3066 9 \u3064\u306e\u30b3\u30a2\u57fa\u76e4\u9818\u57df\u30fb17 \u306e\u30ef\u30fc\u30af\u30d1\u30c3\u30b1\u30fc\u30b8\u3092\u5b9f\u88c5\u3059\u308b\u305f\u3081\u306b\u3001\u20b339,787,316 \u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\u3092\u6c42\u3081\u308b\u3082\u306e\u3067\u3059\u3002\u4e2d\u5fc3\u3068\u306a\u308b\u306e\u306f\u3001<strong>Ouroboros Peras \u306e\u30e1\u30a4\u30f3\u30cd\u30c3\u30c8\u5c55\u958b<\/strong>\uff08\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u78ba\u5b9a\u306e\u9ad8\u901f\u5316\u3001\u7d04 12 \u5206\u304b\u3089\u7d04 2 \u5206\u3078\uff09\u3001<strong>History Expiry<\/strong>\uff08\u90e8\u5206\u5c65\u6b74\u30ce\u30fc\u30c9\u306b\u3088\u308b SPO \u306e\u30b9\u30c8\u30ec\u30fc\u30b8\u8ca0\u8377\u524a\u6e1b\uff09\u3001Hard Fork Mempool Bridger\u3001conformance \/ adversarial \/ mutation \u30c6\u30b9\u30c8\u3001Canonical Ledger State \u3068 Mithril \u9023\u643a\u3001Hoarding Node \u306a\u3069\u3067\u3059\u3002<\/p>\n<h3 id=\"tweag-e381a8e381afe4bd95e3818b-e28095-cardano-e382a8e382b3e382b7e382b9e38386e383a0e381a7e381aee4bd8de7bdaee381a5e38191-4\">Tweag \u3068\u306f\u4f55\u304b \u2015 Cardano \u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3067\u306e\u4f4d\u7f6e\u3065\u3051<\/h3>\n<p>Tweag \u306f\u7a81\u7136\u73fe\u308c\u305f\u5fdc\u52df\u8005\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u30022018 \u5e74 1 \u6708\u4ee5\u6765\u30018 \u5e74\u4ee5\u4e0a\u306b\u308f\u305f\u3063\u3066 Cardano \u306e node \u306e diffusion \u5c64\u3084 Ouroboros \u5b9f\u88c5\u3092\u652f\u3048\u3066\u304d\u305f\u4e2d\u6838\u8ca2\u732e\u8005\u3067\u3042\u308a\u3001\u73fe\u5728 Cardano \u304c\u9032\u3081\u308b <strong>Ouroboros Peras \u306e\u5b9f\u88c5\u30c1\u30fc\u30e0\u305d\u306e\u3082\u306e<\/strong>\u3067\u3059\u3002\u672c\u63d0\u6848\u306e Peras \u4f5c\u696d\u306f\u30012025 \u5e74 8 \u6708\u306b\u65e2\u306b\u627f\u8a8d\u3055\u308c\u305f\u30b9\u30b3\u30fc\u30d7\u306e\u7d99\u7d9a\u306b\u3042\u305f\u308a\u307e\u3059\u3002Tweag \u306f\u3001IO\uff08Input Output\uff09\u304c 2026 \u5e74\u306b\u30b3\u30a2\u30d7\u30ed\u30c8\u30b3\u30eb\u958b\u767a\u3092\u4e3b\u5c0e\u30fb\u8cc7\u91d1\u63d0\u4f9b\u3059\u308b\u4f53\u5236\u306e\u4e2d\u3067\u3001TxPipe\uff08\u30a4\u30f3\u30d5\u30e9\u30fb\u30c4\u30fc\u30eb\uff09\u3084 Intersect\uff08\u8abf\u6574\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\uff09\u3068\u4e26\u3076 specialist engineering \u306e\u5f79\u5272\u3092\u62c5\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 id=\"e4bd95e381abe68a95e8b387e38199e3828be381aee3818b-5\">\u4f55\u306b\u6295\u8cc7\u3059\u308b\u306e\u304b<\/h3>\n<p>Peras \u306f\u78ba\u5b9a\u6027\uff08finality\uff09\u3092\u5927\u5e45\u306b\u77ed\u7e2e\u3057\u3001L2\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\u30c1\u30a7\u30fc\u30f3\u30fb\u30a2\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u3088\u308a\u5b9f\u7528\u7684\u306b\u3057\u307e\u3059\u3002History Expiry \u306f\u3001\u5c06\u6765\u306e\u30b9\u30eb\u30fc\u30d7\u30c3\u30c8\u5411\u4e0a\u306b\u4f34\u3063\u3066\u5897\u3048\u308b\u30ce\u30fc\u30c9\u306e\u30b9\u30c8\u30ec\u30fc\u30b8\u8981\u4ef6\u3092\u6291\u3048\u3001\u30d5\u30eb\u30ce\u30fc\u30c9\u306e\u7d4c\u6e08\u6027\uff1d\u5206\u6563\u6027\u3092\u5b88\u308b\u6295\u8cc7\u3067\u3059\u3002\u3053\u308c\u3089\u306b\u52a0\u3048\u3001\u672c\u63d0\u6848\u306f conformance \u30c6\u30b9\u30c8\u30fbmutation \u30c6\u30b9\u30c8\u30fbadversarial fork \u30c6\u30b9\u30c8\u3068\u3044\u3063\u305f\u300c\u6b63\u3057\u3055\u306e\u8db3\u5834\u300d\u3092\u6574\u3048\u308b\u5185\u5bb9\u3092\u542b\u307f\u300117 \u306e\u30ef\u30fc\u30af\u30d1\u30c3\u30b1\u30fc\u30b8\u306f\u76f8\u4e92\u4f9d\u5b58\u3059\u308b\u5358\u4e00\u306e\u30c7\u30ea\u30d0\u30ea\u30fc\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\u3068\u3057\u3066\u8a2d\u8a08\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 id=\"e382ace38390e3838ae383b3e382b9e381a8e694afe68995e38184e6a78be980a0-6\">\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u652f\u6255\u3044\u69cb\u9020<\/h3>\n<p>\u8cc7\u91d1\u306f\u524d\u6255\u3044\u3067\u306f\u306a\u304f\u3001<strong>\u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u3054\u3068\u306b\u6bb5\u968e\u7684\u306b\u914d\u5206<\/strong>\u3055\u308c\u307e\u3059\u3002Intersect \u304c\u5951\u7d04\u30fb\u76e3\u67fb\u306e administrator \u3068\u306a\u308a\u3001Cardano Development Holdings \u3068\u306e\u6cd5\u7684\u5951\u7d04\u306e\u3082\u3068\u3067\u3001\u7b2c\u4e09\u8005\u306e Assurer \u304c\u5404\u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u3092\u691c\u53ce\u30fb\u7f72\u540d\u3057\u307e\u3059\u3002\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u306e\u8cc7\u91d1\u7ba1\u7406\u306b\u306f\u3001TxPipe \u3068 MLabs \u306b\u3088\u308b\u76e3\u67fb\u3092\u7d4c\u305f SundaeLabs \u306e\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u7ba1\u7406\u30b9\u30de\u30fc\u30c8\u30b3\u30f3\u30c8\u30e9\u30af\u30c8\u304c\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u4e88\u7b97\u6839\u62e0\u3082\u3001\u30b7\u30cb\u30a2\u30a4\u30f3\u30d5\u30e9\u30a8\u30f3\u30b8\u30cb\u30a2\u306e\u5e02\u5834\u76f8\u5834\u30fb\u4fdd\u5b88\u7684\u306a ADA\/USD \u63db\u7b97\u30fb2 \u5e74\u5206\u3068\u3044\u3046\u5f62\u3067\u900f\u660e\u306b\u793a\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f SIPO \u304c\u5f93\u6765\u304b\u3089\u8a55\u4fa1\u3057\u3066\u304d\u305f\u30ac\u30d0\u30ca\u30f3\u30b9\u6a19\u6e96\u3068\u540c\u4e00\u3067\u3059\u3002<\/p>\n<h3 id=\"io-research-e381a8e381aee996a2e4bf82-e28095-e9878de8a487e3818be8a39ce5ae8ce3818b-7\">IO Research \u3068\u306e\u95a2\u4fc2 \u2015 \u91cd\u8907\u304b\u88dc\u5b8c\u304b<\/h3>\n<p>\u672c\u63d0\u6848\u3092\u898b\u308b\u3046\u3048\u3067\u8ad6\u70b9\u306b\u306a\u308b\u306e\u304c\u3001IO Research \u306e\u7814\u7a76\u30d7\u30ed\u30b0\u30e9\u30e0\uff08Cardano Vision 2026\uff09\u3068\u306e\u91cd\u8907\u3067\u3059\u3002\u4e21\u8005\u306e\u6210\u679c\u7269\u3092\u7a81\u304d\u5408\u308f\u305b\u308b\u3068\u3001\u4f5c\u696d\u30ec\u30d9\u30eb\u3067\u306f<strong>\u6982\u306d\u88dc\u5b8c\u95a2\u4fc2<\/strong>\u306b\u3042\u308b\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002IO \u5074\u306f\u7814\u7a76\u30fbCIP\u30fb\u57fa\u790e\u79d1\u5b66\u30fb\u30d7\u30ed\u30c8\u30bf\u30a4\u30d7\u3092\u62c5\u3044\u3001Tweag \u5074\u306f\u30d7\u30ed\u30c0\u30af\u30b7\u30e7\u30f3\u30a8\u30f3\u30b8\u30cb\u30a2\u30ea\u30f3\u30b0\u30fb\u30e1\u30a4\u30f3\u30cd\u30c3\u30c8\u5b9f\u88c5\u30fb\u30c6\u30b9\u30c8\u3092\u62c5\u3046\u3001\u3068\u3044\u3046\u7814\u7a76\u3068\u5b9f\u88c5\u306e\u5f79\u5272\u5206\u62c5\u3067\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u540c\u4e00\u6210\u679c\u7269\u3092\u4e8c\u91cd\u306b\u8cc7\u91d1\u5316\u3059\u308b\u3068\u3044\u3046\u72ed\u7fa9\u306e\u30ea\u30b9\u30af\u306f\u4f4e\u3044\u3068\u898b\u3066\u3044\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001IO \u304c\u30b3\u30a2\u30d7\u30ed\u30c8\u30b3\u30eb\u3092\u300c\u4e3b\u5c0e\u30fb\u8cc7\u91d1\u63d0\u4f9b\u300d\u3059\u308b\u4f53\u5236\u306e\u4e2d\u3067\u3001Tweag \u304c\u4e26\u884c\u3057\u3066\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u304b\u3089\u76f4\u63a5\u5f15\u304d\u51fa\u3059\u69cb\u9020\u306b\u3064\u3044\u3066\u306f\u3001\u8cc7\u91d1\u8cac\u4efb\u306e\u5206\u62c5\uff08IO \u306b\u3088\u308b\u8abf\u6574\u30fbsub-fund \u304b\u3001\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u76f4\u63a5\u304b\uff09\u304c\u3001\u5206\u6563\u5316\u3078\u306e\u79fb\u884c\u904e\u7a0b\u3067\u307e\u3060\u5b9a\u307e\u3063\u3066\u3044\u306a\u3044\u3001\u3068\u3044\u3046\u6574\u7406\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3 id=\"e381aae3819ce3808ce6a384e6a8a9efbc88abstainefbc89e3808de381aae381aee3818b-8\">\u306a\u305c\u300c\u68c4\u6a29\uff08Abstain\uff09\u300d\u306a\u306e\u304b<\/h3>\n<p>SIPO \u306f\u3001\u9069\u5207\u306b\u30ac\u30d0\u30ca\u30f3\u30b9\u3055\u308c\u305f\u30b3\u30a2\u57fa\u76e4\u30c7\u30ea\u30d0\u30ea\u30fc\u306b\u5bfe\u3057\u3066\u306f\u652f\u6301\u7684\u306a\u59ff\u52e2\u3092\u53d6\u3063\u3066\u304d\u307e\u3057\u305f\u3002\u5b9f\u969b\u306b\u3001node \u591a\u69d8\u6027\u306e\u89b3\u70b9\u304b\u3089 Amaru\uff08Rust\uff09\u30fbDingo\uff08Go\uff09\u306b\u3001\u30d6\u30e9\u30a6\u30b6\u8efd\u91cf\u30ce\u30fc\u30c9 Gerolamo\uff08TypeScript \/ WebAssembly\uff09\u306b\u3001IOG \u306e\u30b3\u30a2\u30d7\u30ed\u30c8\u30b3\u30eb\u30e9\u30a6\u30f3\u30c9\u306b\u3001Blockfrost \u3084 Pogun \u306b\u3001\u3044\u305a\u308c\u3082\u8cdb\u6210\uff08Yes\uff09\u3092\u6295\u3058\u3066\u3044\u307e\u3059\u3002Tweag \u306e\u4f5c\u696d\u306f\u3053\u308c\u3089\u3068\u540c\u3058\u30b3\u30a2\u57fa\u76e4\u30af\u30e9\u30b9\u306b\u5c5e\u3057\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u69cb\u9020\u3082\u540c\u7b49\u3067\u3059\u3002\u3057\u305f\u304c\u3063\u3066 SIPO \u306f\u672c\u4ef6\u306b <strong>No\uff08\u53cd\u5bfe\uff09\u3092\u6295\u3058\u307e\u305b\u3093<\/strong>\u3002essential \u3067\u9069\u5207\u306b\u30ac\u30d0\u30ca\u30f3\u30b9\u3055\u308c\u305f\u30b3\u30a2\u4f5c\u696d\u306e\u5426\u6c7a\u306b\u52a0\u62c5\u3059\u308b\u3053\u3068\u306f\u3001SIPO \u306e\u610f\u56f3\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p>\u305d\u308c\u3067\u3082 SIPO \u304c\u300c\u652f\u6301\u300d\u3067\u306f\u306a\u304f\u300c\u68c4\u6a29\u300d\u3092\u9078\u3093\u3060\u7406\u7531\u306f\u3001\u672c\u63d0\u6848\u306b\u56fa\u6709\u306e 2 \u70b9\u3067\u3059\u3002\u7b2c\u4e00\u306b\u3001<strong>\u898f\u6a21\u3068\u8ca1\u653f\u898f\u5f8b<\/strong>\u3067\u3059\u3002\u20b339,787,316 \u306f\u73fe\u5728\u30e9\u30a4\u30d6\u306a\u76f4\u63a5\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\u306e\u4e2d\u3067\u5358\u72ec\u6700\u5927\u3067\u3042\u308a\u3001SIPO \u304c\u63a8\u5b9a\u3059\u308b\u6b8b\u308a Net Change Limit \u306e\u304a\u3088\u305d 28%\u3001SIPO \u304c\u652f\u6301\u3057\u305f \u20b34,600,000 \u306e\u30d6\u30e9\u30a6\u30b6\u30ce\u30fc\u30c9\u63d0\u6848\u306e\u7d04 8.6 \u500d\u306b\u3042\u305f\u308a\u307e\u3059\u3002\u3053\u306e\u898f\u6a21\u306e\u5358\u72ec\u5f15\u304d\u51fa\u3057\u306b\u5bfe\u3057\u3066\u306f\u3001NCL \u898f\u5f8b\u306e\u4e0b\u3067\u30012026 \u5e74\u4e88\u7b97\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u305f\u3081\u306e\u30b9\u30ec\u30fc\u30c8\u306e\u4f59\u5730\u3092\u6b8b\u3059\u3053\u3068\u3092\u512a\u5148\u3057\u307e\u3059\u3002\u7b2c\u4e8c\u306b\u3001<strong>\u5f79\u5272\u306e\u660e\u78ba\u6027<\/strong>\u3067\u3059\u3002IO \u304c\u30b3\u30a2\u30d7\u30ed\u30c8\u30b3\u30eb\u958b\u767a\u3092\u4e3b\u5c0e\u30fb\u8cc7\u91d1\u63d0\u4f9b\u3059\u308b\u4e2d\u3067\u306e\u4e26\u884c\u3059\u308b\u76f4\u63a5\u5f15\u304d\u51fa\u3057\u306f\u3001\u8cc7\u91d1\u8cac\u4efb\u306e\u5206\u62c5\u304c\u307e\u3060\u660e\u78ba\u306b\u5b9a\u307e\u3063\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n<h3 id=\"sipo-drep-e381a8e38197e381a6e381aee7b590e8ab96e383bbe382b9e382bfe383b3e382b9-9\">SIPO DRep \u3068\u3057\u3066\u306e\u7d50\u8ad6\u30fb\u30b9\u30bf\u30f3\u30b9<\/h3>\n<p>\u4ee5\u4e0a\u304b\u3089\u3001SIPO \u306f\u672c\u63d0\u6848\u306b <strong>Abstain\uff08\u68c4\u6a29\uff09<\/strong> \u3092\u6295\u3058\u307e\u3057\u305f\u3002\u3053\u308c\u306f Tweag \u306e\u4f5c\u696d\u3084\u80fd\u529b\u3092\u5426\u5b9a\u3059\u308b\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u305d\u306e\u4fa1\u5024\u3092\u8a8d\u3081\u305f\u3046\u3048\u3067\u3001\u898f\u6a21\u30fb\u8ca1\u653f\u898f\u5f8b\u30fb\u5f79\u5272\u5206\u62c5\u306e\u660e\u78ba\u6027\u3068\u3044\u3046\u89b3\u70b9\u304b\u3089\u3001\u73fe\u6642\u70b9\u3067\u80fd\u52d5\u7684\u306a\u652f\u6301\u3092\u63a7\u3048\u308b\u3001\u3068\u3044\u3046\u8a18\u9332\u4e0a\u306e\u7acb\u5834\u8868\u660e\u3067\u3059\u3002SIPO \u306e\u7acb\u5834\u306f\u56fa\u5b9a\u7684\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u5f79\u5272\u5206\u62c5\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u898f\u6a21\u304c\u6574\u7406\u3055\u308c\u308c\u3070\u3001\u672c\u4f5c\u696d\u306b\u5bfe\u3059\u308b\u5c06\u6765\u306e\u8abf\u6574\u3055\u308c\u305f\uff0f\u6539\u8a02\u3055\u308c\u305f\u8cc7\u91d1\u69cb\u9020\u3092\u652f\u6301\u3059\u308b\u3053\u3068\u306b\u958b\u304b\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<h2 id=\"how-sipo-views-tweag-core-cardano-infrastructure-2026-2028-a-drep-perspective-10\">How SIPO Views Tweag Core Cardano Infrastructure 2026\u20132028 \u2014 A DRep Perspective \u2014<\/h2>\n<h3 id=\"overview-11\">Overview<\/h3>\n<p>This governance action requests \u20b339,787,316 for Tweag by Modus Create to deliver 17 work packages across 9 core-infrastructure areas over 2026\u20132028. The centerpiece is the mainnet deployment of Ouroboros Peras (faster finality, ~12 min to ~2 min), alongside History Expiry (reducing SPO storage load and preserving decentralization), conformance \/ mutation \/ adversarial testing, Canonical Ledger State and Mithril integration, and the Hoarding Node suite.<\/p>\n<h3 id=\"what-tweag-represents-12\">What Tweag Represents<\/h3>\n<p>Tweag is not a new applicant. It has been a core contributor to the Cardano node diffusion layer and the Ouroboros implementation for over eight years since 2018, and it is the team implementing Ouroboros Peras. The Peras work in this proposal continues a scope already awarded in August 2025. Tweag operates as specialist engineering within the IO-led core-protocol development consortium, alongside TxPipe (infrastructure and tooling) and Intersect (coordination and governance).<\/p>\n<h3 id=\"governance-disbursement-13\">Governance &amp; Disbursement<\/h3>\n<p>Funds are released progressively by milestone, not paid upfront. Intersect serves as contract and audit administrator under a legal contract with Cardano Development Holdings, a third-party Assurer signs off each milestone, and on-chain funds are managed through an audited SundaeLabs treasury smart contract. The budget basis is transparent. This is the same governance standard SIPO has previously endorsed.<\/p>\n<h3 id=\"relationship-to-io-research-14\">Relationship to IO Research<\/h3>\n<p>At the work level, the proposal is largely complementary to IO Research&#8217;s research layer \u2014 research, CIPs, and foundational science versus production engineering, mainnet delivery, and testing \u2014 so the narrow double-funding risk is low. The open question is one of funding responsibility: with IO leading and funding core-protocol development in 2026, the split for a parallel direct Tweag draw is not yet settled as the ecosystem transitions toward distributed responsibility.<\/p>\n<h3 id=\"why-sipo-abstains-15\">Why SIPO Abstains<\/h3>\n<p>SIPO has consistently supported well-governed core infrastructure: Amaru (Rust) and Dingo (Go) under its node-diversity doctrine, Gerolamo (the in-browser light node), the IOG core-protocol round, Blockfrost, and Pogun. Tweag sits in the same class, so SIPO does not vote No here. SIPO abstains for two reasons specific to this proposal: scale and fiscal discipline (\u20b339.8M is the single largest live direct withdrawal, roughly 28% of SIPO&#8217;s estimated remaining Net Change Limit and about 8.6&times; the browser-node proposal SIPO supported), and role clarity (the funding-responsibility split for a parallel direct draw within the IO-led consortium is not yet settled).<\/p>\n<h3 id=\"final-position-16\">Final Position<\/h3>\n<p>SIPO votes Abstain. This is not a rejection of Tweag&#8217;s work or capability; it recognizes their value while withholding active support on grounds of scale, fiscal discipline, and role clarity. SIPO&#8217;s position is not fixed and remains open to supporting a future coordinated or revised funding structure once the role split and portfolio scale are clarified.<\/p>\n","protected":false},"excerpt":{"rendered":"Tweag Core Cardano Infrastructure: Treasury Withdrawal 2026\u20132028 Governance Action Type: Treasury Withdrawal\uff08\u30c8\u30ec\u30b8\u30e3\u30ea\u30fc\u5f15\u304d\u51fa\u3057\uff09 \u63d0\u51fa: 2026\u5e744\u670830\u65e5\uff08Epoch 628\uff09 \u5931\u52b9: 2026\u5e746\u67084\u65e5\uff08Epoch 635\uff09 \u8981\u6c42\u984d: \u20b339,787,316\uff08\u7d04 USD 9,946,829\uff09 \u63d0\u6848\u8005: Tweag by Modus Create Governance Action ID: gov_action14u26vcn3wmcnhc5pqrt6494ypugr7c7f3e2ns60r32cntl6zjtxsqq&hellip;","protected":false},"author":1,"featured_media":46008,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[307,21,35,28,1],"tags":[],"class_list":{"0":"post-46007","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\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1.png",1456,816,false],"thumbnail":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-150x150.png",150,150,true],"medium":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-300x168.png",300,168,true],"medium_large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-768x430.png",768,430,true],"large":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-1024x574.png",900,504,true],"1536x1536":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1.png",1456,816,false],"2048x2048":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1.png",1456,816,false],"dp-widget-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-140x96.png",140,96,true],"dp-widget-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-280x192.png",280,192,true],"dp-related-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-250x154.png",250,154,true],"dp-related-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-500x308.png",500,308,true],"dp-archive-thumb":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-450x252.png",450,252,true],"dp-archive-thumb-2x":["https:\/\/sipo.tokyo\/wp-content\/uploads\/2026\/06\/sition_sipo_Bright_tech-curious_editorial_illustration_in_pop_a54b4e65-4849-4a22-a5a0-26cf89d37322_1-900x504.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 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