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- Entering the Voltaire Era: Explaining the Role of DReps in Cardano’s Governance
Entering the Voltaire Era: Explaining the Role of DReps in Cardano’s Governance
What It Means To Be a DRep & Announcing My DRep Candidacy
Hey Cardanians! Welcome aboard to a Special Edition of the Cardano Newsletter!!
This edition is packed with valuable insights into Cardano's latest developments.
We have a new special edition of the Newsletter! This issue focuses on what it means to be a delegated representative (DRep) and what this role entails as Cardano moves closer toward a decentralized government model. The Cardano Newsletter is also happy to announce that Lucas Macchiavelli has officially registered as a DRep. Let’s dive in.
Entering the Voltaire Era: Explaining the Role of DReps in Cardano’s Governance
Cardano has entered the Voltaire era, a crucial phase in its journey towards full decentralization. With the recent implementation of the Chang hard fork, Cardano is now equipped with the necessary tools for community-driven governance. This new era introduces voting and treasury systems, empowering network participants to actively shape Cardano's future through their stake and voting rights.
Delegated Representatives (DReps) are a new role in Cardano's governance system. They, along with Stake Pool Operators (SPOs) and the Constitutional Committee (CC), will be the central governing bodies of the Cardano ecosystem and are responsible for voting on important decisions for the network. This system is part of the Voltaire era, which aims to increase community involvement in Cardano's governance.
DReps are members of the Cardano community who can receive delegated voting power from other ADA holders. When voting on proposals, these representatives use the total amount of ADA delegated to them. ADA holders can delegate their voting power to different delegated representatives at any time. It's important to note that delegating ADA to a DRep does not transfer ownership. The original ADA holder remains in control of their funds.
This governance system is based on Liquid Democracy, a model where citizens can share their votes and support specific policies. Unlike traditional representative democracies, Liquid Democracies allow citizens to have more direct influence over policies. By delegating their votes to representatives, citizens can still participate in governance without having to be directly involved in all decision-making processes.
Anyone who is a member of the Cardano community can register to become a DRep, receiving a unique ID. Once registered, they can receive delegated voting power from other ADA holders. The number of DReps is not fixed and can change over time as ADA holders delegate their voting power to different representatives. Their influence is determined by the amount of voting power they have accumulated.
There are no term limits for DReps; an active representative has voting power and participates in decision-making while an inactive one has retired their ID and no longer receives delegated voting power. The number of votes a DRep has can change over time as ADA holders delegate their voting power to different representatives. In some cases, a representative may temporarily lose all their voting power if all of the ADA allocated to them are delegated to other representatives. The DRep system is designed this way to be flexible and adaptable to the changing needs of the network.
My DRep Candidacy
After Sunday’s Chang hard fork, I was surprised by the emotional effect that the milestone ended up having on me. I've been in Cardano for over three years now– so many hours, so many spaces, events, and late nights. This community has given me so much, and the transition into the Voltaire Era is a testament to how far this ecosystem has come. I truly believe in Cardano’s capacity to catapult the community into a truly decentralized world, governed by and for the people.
During the past few years, I’ve immersed myself into a phenomenal ecosystem in different ways: creating the Cardano Newsletter, breaking down the most relevant and pertinent news concerning the ecosystem; co-founding Token Allies, a decentralized autonomous organization (DAO) and Cardano’s first venture capital; as well as co-founding the Latam Cardano Community in an effort to onboard and educate more people in the region on this truly revolutionary technology.
With your support, I feel ready to assume the serious responsibility that comes with registering myself as a delegated representative (DRep). I feel that my contributions and participation within the ecosystem have prepared me well for such an important role within a vital branch of Cardano’s different governing bodies.
I will be very humbled and grateful if you decide to vote for me as your DRep. My commitment to this role is also a commitment to the members of the Cardano community, the same ones who have always made this journey worthwhile all along.
If you’d like to vote for me, the easiest way to do so is by using the Eternl Wallet. Once you open the application, click on the “Voting” tab and then go to the “Governance” section. Once there, all you need to do is type in the candidate’s DRep ID and sign a transaction in your wallet.
If you trust me to represent you, when asked for a DRep ID, you can write mine. In the next few days I will be publishing a document on my X account where I will share my values and visions for the present and future of the Cardano ecosystem.
This is my DRep ID:
drep15nvw9d6zr6m08dpckkx4d3g6dplc5vh7yhekyjw0vq07spk38ak
Thank you.
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