Active Voting Stake
The total amount of ada delegated to active Delegated Representatives (DReps).
Abstaining to Vote vs. Vote to Abstain
An explicit vote to abstain differs from abstaining from voting. Unregistered stake that did not vote behaves like an 'Abstain' vote, while registered stake that did not vote behaves like a 'No' vote.
Governance Parameters
Settings of the on-chain governance model, encompassing all parameters of the governance protocol parameter group.
CIP-1694
The Cardano Improvement Proposal that outlines the future on-chain governance model for Cardano.
Chang Hard Fork
A specific Cardano hard fork introducing the on-chain governance model described in CIP-1694, is scheduled for Summer 2024.
Delegated Representative (DRep)
A new role was introduced in the Age of Voltaire under CIP-1694. DReps are responsible for voting on governance actions. Their voting power is proportional to the ada delegated to them.
Stake Pool Operator (SPO)
Entities responsible for block production and maintaining network operations. SPOs also vote on specific governance actions.
Constitutional Committee (CC)
A group tasked with deciding the constitutionality of governance actions, ensuring they align with the Cardano Constitution.
Voting Threshold
The specific percentage of Yes votes required to pass a governance action.
Lovelace
The smallest unit of Cardano's native cryptocurrency, ada, is equivalent to one-millionth of one ada (1 ada = 1 000 000 lovelace)
Epoch
A unit of time in Cardano, consists of 432,000 slots, with each slot lasting one second. An epoch spans approximately five days.
Epoch Boundary
The moment when one epoch transitions into the next.
Governance Action (GA)
An on-chain event triggered by a transaction with a specific deadline for enactment. There are seven types of Governance Actions, and any ada holder can submit one.
Governance Action Deposit Amount
The deposit amount of ada is required to submit a governance action on-chain. The deposit amount is the same for all types of governance actions.
Governance Action Ratification
This occurs when a governance action gathers enough favorable votes to pass the defined threshold. A governance action is only checked for ratification at the epoch boundary.
Governance Action Expiration
When a governance action fails to be ratified before its deadline. The deadline is defined as a governance parameter called “Governance Action Lifetime”. It is defined in epochs.
Governance Action Enactment
Automatic enactment of a governance action one epoch after successful ratification.
Hard Fork
A significant update to the blockchain protocol that is not backward compatible.
No-Confidence Motion
A type of governance action that, once ratified, changes the state of the Constitutional Committee to no-confidence, requiring a new CC appointment.
Protocol Parameters
Configurable values defining various operational aspects of the Cardano blockchain. For current values and update history, check Cardano Protocol Parameters.
Treasury Withdrawal Request
A governance action allowing any ada holder to request a treasury withdrawal. If ratified, the treasury disburses the specified amount.
Age of Voltaire
The last phase of Cardano's initial roadmap focusing on further decentralization and improved on-chain governance.
Cardano Improvement Proposal (CIP)
A document providing information to the Cardano community, describing new features or processes for Cardano.
Cardano-cli
A command-line interface tool for interacting with the Cardano blockchain.
Constitution
The foundational principles and rules for Cardano’s governance.
Intersect
A Member-Based Organization (MBO) was founded to promote Cardano's future development.
Member-Based Organization (MBO)
An organization coordinating various stakeholders, investments, and resources for Cardano's development.
MIR Certificates
Move Instantaneous Rewards certificates used in Cardano’s current governance model.
Metadata
Off-chain extra data is submitted on-chain to provide additional context, such as DRep Metadata, Governance Actions Metadata, and Vote Metadata.
SanchoNet
The testnet for rolling out governance features for Cardano, aligning with CIP-1694. SanchoNet offers an educational resource for users to learn about Cardano's governance system and encourages community involvement. More information can be found at SanchoNet.