Chang Upgrade is Live, What's Next?

GM Frens,

What's Spotlight? Every week, we highlight the most interesting events happening around Cardano. We want to help you cut the clutter and find the alpha.

On September 1, Cardano’s Chang hard fork went live fully mainnet. Meanwhile, Intersect MBO launched a governance tool (gov.tools) for DRep onboarding and governance actions.

On September 5, Cardano’s largest meme community launched Snek.Fun, where degens can launch their token with a few clicks. Meanwhile, the race to become DRep is intensifying among community members. We will break down for you how to start your journey as a DRep on the Cardano blockchain. Let’s deep dive into these developments:

Life after Chang hard fork 🕵️‍♀️

Charles Hoskinson again went live this week from warm and sunny Colorado and discussed the next steps after the successful Chang upgrade.

• He explained the new rules governing the interim constitutional committee and other governing bodies during this transition period.

• He acknowledged a "constitutional debt" as Cardano moved from CIP 1694 to the new constitution.

• Collaboration between stake pool operators and constitutional committee members is crucial for decision-making and budget approval.

Just after a few hours of Chang upgrade, Cardano devs also fixed an issue with Node 9.1.0, updating to node version 9.1.1:

Community Decisions Through On-chain Governance

Decentralized governance empowers the community to make decisions for the chain. This fosters certainty in funding by facilitating open communication and collaborative decision-making. Additionally, it enables the community to shape the future by either moving forward with current plans or making drastic changes.

Positive change necessitates persuasive arguments and collaboration within the cryptocurrency space. Governance actions must be inclusive and deemed legitimate by a majority of stakeholders. You can participate in this on-chain governance, using gov.tools or join Intersect today to gain voting rights, shape Cardano's future, and connect with a global network of professionals.

Snek.fun tests Cardano load

Snek Dot Fun Brings 3x Load on Cardano

Snek.fun is a quick token launchpad for Cardano degens and is backed by the Snek community. Despite a bumpy launch on Thursday afternoon, the platform prompted a three-fold spike in the daily Cardano transactions. However, the Snek memecoin maker Goofy has promised to deliver the best product.

Forget complex coding or wrestling with unfamiliar platforms – Snek.Fun makes launching your meme token a breeze. Here's how it works:

• Simple Interface: The platform boasts a user-friendly interface that streamlines the meme token creation process. No coding knowledge is required, making it accessible to anyone with a creative idea.

• Customizable Tokens: Design your token's name, symbol, and total supply to reflect your meme's essence. You can even set the initial token distribution.

• Fast Launch: Gone are the days of waiting for approvals or navigating complex procedures. With Snek.Fun, your meme token can be launched in just a few clicks, allowing you to capitalize on the fleeting nature of internet trends.

Cardano Constitutional Workshop in Bangalore

The Intersect-led Cardano Constitutional Workshops are taking the world by storm, covering over 30 countries. These workshops focus on the constitution draft and seek community notes on the same. Catch Cardano Spot covering the Bangalore edition this weekend. More details here!

Community Members Voice Against Treasury Burning

Key community members and dReps voiced against the burning of treasury, which is accumulated over time with transaction fees and on-chain economics. Cardano Co-Founder Charles also criticised the informal proposal and stated that the Treasury is not pre-minted.

A Guide: How to Become a DRep

DRep stands for Delegated Representative, and they are an important part of representative government in Cardano’s on-chain governance. DReps are community members who actively participate in voting on governance actions. Anyone can register as a DRep.

Registering to become a DRep will soon be able to be done through the Gov Tools website, created by SanchoNet and currently running in beta. However, DRep registration is now live through two ecosystem wallets, Eternl and Lace, and Cardano CLI.

With Eternl being the most popular of these three options, we’re going to run through the process of registering as a DRep through Eternl wallet.

1. Open the Eternl website or browser extension and access your wallet.

2. Find the "Voting" tab in the menu bar and select "Blockchain Governance" underneath it.

3. Under the "New Vote Delegation" section select "Own Account" to register yourself as a DRep—note that you’ll need a refundable deposit of 500 ADA to register as a DRep.

4. You will be prompted to provide an (optional) URL, that will be stored on-chain linking your DRep ID to an off-chain and editable repository of information about yourself.

5. Sign the transaction confirming the 500ADA deposit and wait for it to process on-chain.

You are now registered as a DRep and will be able to vote on Governance Actions once the Cardano Constitution has been ratified on-chain—expected to happen in December 2024 or January 2025.

Best content of the week

Read: Cardano Blockchain: India Market Deep-dive Report

Watch: Should DReps Be Compensated, Cardano News

Meme of the week

Snek breaks into fun!

Visit Cardano Spot to be updated with the Cardano ecosystem and learn more every week.