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Cardano Foundation CEO Explains What Happens After SPO Vote

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Fri, 19/05/2023 - 16:03
Cardano Foundation CEO Explains What Happens After SPO Vote
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Frederick Gregaard, CEO of the Cardano Foundation, recently discussed the Stake Pool Operator (SPO) vote and Cardano's latest development initiatives in an interview.

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The SPO poll makes it possible for all Cardano SPOs to cast their vote on three questions regarding the Cardano network's future direction.

This initiative, according to Gregaard, will not only add another layer to Cardano's governance model but also contribute to fostering a stronger Cardano community.

While the CEO emphasized that this poll is not a vote, he also explained that the results would be a useful tool to help ensure transparency and community engagement.

Gregaard further clarified that the SPO poll would leverage the uniqueness and verifiability of each stake pool's setup, thus offering a unique insight into the community's preferences. Following the poll, Cardano holders who have been delegating to those pools will have the chance to either continue supporting their SPO or choose to re-delegate based on the SPO's votes.

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In terms of the SPO poll's impact on Cardano, the results will be taken into consideration by the protocol parameter committee, a newly established group with representatives from various Cardano-associated entities. The committee's purpose is to review and potentially implement the changes proposed through the poll, thus helping to streamline Cardano's development and foster its evolution.

The SPO poll is part of a broader effort by the Cardano Foundation to enhance its transparency and community engagement.

Other initiatives include the annual report or "transparency report," as Gregaard calls it, which outlines the foundation's achievements and goals, as well as financial disclosures. The CEO believes these efforts will not only foster better understanding within the community but will also lead to greater accountability and effectiveness in the foundation's operations.

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