EMURGO’s Whimsical Whirlwind: The Genesis ADA Saga! 🥳
Once upon a time in the land of Cardano, where the blockchain trees grew tall and the coins sparkled like stars, EMURGO, the cheeky little rascal, decided to address the curious whispers swirling around the community about the mysterious Genesis ADA. In a rather cheeky post on X, they cleared the air about their oh-so-important role in the governance votes of this magical ecosystem. 🧙♂️✨
EMURGO and Governance Concerns: A Tale of Power and Pizzazz
Now, let’s rewind to 2017, when EMURGO, one of the founding wizards of Cardano, received a treasure trove of Genesis ADA coins. These shiny coins were not just for show; they held the power to sway votes in the Delegated Representatives (DRep) model, where token holders could delegate their votes to a representative. Talk about a power trip! 🎩💰
But oh dear, this sparked quite the ruckus in the Cardano community! Many folks were convinced that EMURGO was hoarding the Genesis ADA like a dragon with its gold, influencing the voting outcomes like a puppet master pulling strings. 🐉
However, EMURGO, with a twinkle in their eye, proclaimed that they have waved their magic wand and removed Genesis ADA from their voting DRep profiles. “Fear not!” they declared, “Our voting power has been trimmed down to size, all in the name of transparency!” 🪄
“We’d like to reconfirm that EMURGO has completed the removal of Genesis ADA from our voting DRep profiles to put lingering questions to rest and clarify the facts.
As a co-founding entity, we continue to maintain contact and have long-standing relationships with many original…”
— EMURGO (@emurgo_io) June 11, 2025
They also mentioned that many early investors, with wallets as heavy as their hearts, chose to delegate their ADA to EMURGO. But fear not, dear friends! EMURGO neither owns nor controls these wallets or their voting patterns. It’s like letting a cat sit on your lap but not letting it decide what to watch on TV! 🐱📺
In a twist of fate, EMURGO announced plans to sprinkle their ADA fairy dust among smaller DReps to promote diversity in the community. They hoped this would silence the naysayers claiming they were pulling the strings and undermining decentralization. 🎉
Input Output Global and the NCL: A New Chapter!
Meanwhile, in another corner of this whimsical world, Input Output Global, the clever developers behind Cardano, recently waved their approval wand over the Net Change Limit (NCL). This magical limit refers to the total amount of ADA that can be released from the treasury for community initiatives. 🏰💸
To avoid any more hullabaloo, Input Output Global assured everyone that the NCL aligns perfectly with the Cardano constitution. Because who doesn’t love a good constitution, right? 📜
And in the grand tapestry of the crypto ecosystem, Cardano has now been woven into the Nasdaq index, a major milestone that boosts its Wall Street exposure. Hooray for Cardano! 🎊
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2025-06-11 13:43