Anchor document

{
  "@context": {
    "CIP100": "https://github.com/cardano-foundation/CIPs/blob/master/CIP-0100/README.md#",
    "authors": {
      "@container": "@set",
      "@context": {
        "name": "http://xmlns.com/foaf/0.1/name",
        "witness": {
          "@context": {
            "publicKey": "CIP100:publicKey",
            "signature": "CIP100:signature",
            "witnessAlgorithm": "CIP100:witnessAlgorithm"
          },
          "@id": "CIP100:witness"
        }
      },
      "@id": "CIP100:authors"
    },
    "body": {
      "@context": {
        "comment": "CIP100:comment",
        "externalUpdates": {
          "@context": {
            "title": "CIP100:update-title",
            "uri": "CIP100:uri"
          },
          "@id": "CIP100:externalUpdates"
        },
        "references": {
          "@container": "@set",
          "@context": {
            "GovernanceMetadata": "CIP100:GovernanceMetadataReference",
            "Other": "CIP100:OtherReference",
            "label": "CIP100:reference-label",
            "referenceHash": {
              "@context": {
                "hashAlgorithm": "CIP100:hashAlgorithm",
                "hashDigest": "CIP100:hashDigest"
              },
              "@id": "CIP100:referenceHash"
            },
            "uri": "CIP100:reference-uri"
          },
          "@id": "CIP100:references"
        }
      },
      "@id": "CIP100:body"
    },
    "hashAlgorithm": "CIP100:hashAlgorithm"
  },
  "hashAlgorithm": "blake2b-256",
  "body": {
    "comment": "## RCADA Rationale\n\nRCADA votes **YES** on the **Revised Cardano Summit 2026 Singapore** Treasury Withdrawal proposal.\n\nThis is a cautious YES.\n\nRCADA supports this revised proposal because it is materially stronger than the earlier Cardano Summit / TOKEN2049 proposal. The Cardano Foundation has responded to community feedback by decoupling the Summit from EMURGO’s TOKEN2049 sponsorship proposal, reducing the requested budget by **22%**, narrowing the event from three stages to two, and increasing the Foundation’s estimated internal resource contribution from **$250,000 to $380,000**. \n\nThese changes matter. RCADA has consistently raised concerns about bundled proposals, unclear accountability, high Treasury asks, and weak measurability. In this case, the revised proposal addresses several of those concerns directly. It is not perfect, but it demonstrates responsiveness to community scrutiny and a willingness to reduce scope and cost.\n\nRCADA also recognises the strategic case for holding the Cardano Summit in Singapore immediately before TOKEN2049. Singapore is a major financial, regulatory, and digital-asset hub, and the timing provides access to an audience already concentrated around institutional finance, blockchain infrastructure, enterprise adoption, developers, investors, regulators, and media. If well executed, this positioning could help Cardano reach audiences that are difficult and expensive to attract through ecosystem-only events. \n\nThe two-day structure is also clearer than the earlier version. **Ecosystem Day** provides space for governance, builders, DReps, technical workshops, hackathon activity, ecosystem showcases, and community engagement. **Industry Day** focuses on enterprise, institutional, regulatory, DeFi, stablecoin, interoperability, identity, AI, and real-world adoption themes. RCADA sees value in this split because it preserves community participation while also targeting external adoption audiences. \n\nThe proposal also includes a more useful KPI framework than many event proposals. The Foundation is targeting **1,200 attendees**, **700 senior executives and decision makers**, **250 enterprise marketing-qualified leads**, **50 strategic meetings within 45 days post-event**, **10 live demos or technical workshops**, **200 developer participants**, and **30 hackathon submissions or applications**.  These targets do not guarantee impact, but they provide a clearer basis for post-event accountability than attendance numbers alone.\n\nThat said, RCADA’s support should not be interpreted as blanket approval for large recurring event funding from the Treasury.\n\nEven after the reduction, this remains a significant request: **₳7,800,000**, based on a **$1,950,000** budget. A two-day event must be held to a high standard when funded from the public Treasury. Brand visibility alone is not enough. The Summit should produce measurable follow-through in the form of qualified leads, strategic meetings, developer engagement, technical demonstrations, sponsor revenue, partnership opportunities, and credible post-event reporting.\n\nRCADA also notes that stronger community support may have been achieved with a larger direct cash contribution from the Cardano Foundation, a matched-funding structure, stronger sponsor commitments before the vote, more granular milestone release, or a clearer multi-year plan for reducing recurring Treasury dependency. The proposal does deduct **$313,000** in Summit 2025 revenue and states that 2026 revenue will be ring-fenced for 2027 venue deposits and early planning, which is positive, but a more explicit long-term sustainability model would strengthen future event proposals. \n\nWe also remain cautious about the front-loaded funding structure. The first milestone releases **₳6,240,000** after approval and funding of the treasury contract, while **₳1,560,000** is paid after delivery of the event.  RCADA understands that major events require early deposits, vendor commitments, venue planning, and lead time, but this structure places substantial reliance on pre-delivery execution discipline. Public reporting and oversight therefore need to be especially strong.\n\nRCADA further notes that the proposal is submitted outside the Intersect budget process due to event-planning timing constraints. We accept that large events require earlier commitments than an August or September withdrawal would allow, and the proposal explains that a delayed funding cycle could make the October 2026 event impractical.  However, timing pressure should not become a routine workaround for normal budget discipline. Future event planning should aim to align more predictably with budget cycles where possible.\n\nOverall, RCADA believes the revised Summit proposal clears the threshold for cautious support. It has improved meaningfully, is strategically timed, includes clearer KPIs, uses smart-contract-based administration and oversight, and responds to community budget concerns. However, this vote is narrow and conditional in spirit.\n\nFor these reasons, RCADA votes **YES**, while emphasising that future Summit or event proposals should continue improving cost-sharing, sponsor pre-commitments, post-event ROI reporting, milestone design, and long-term sustainability. The success of this proposal should ultimately be judged not by attendance or visibility alone, but by whether it creates measurable enterprise, developer, governance, and ecosystem outcomes for Cardano.\n\nRCADA's full vote assessment can be found here: \"https://brolloks.github.io/rcada-drep-votes/.\"\n"
  }
}