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Coin Ceylon

We're honoured to represent the global community in decentralized governance of Cardano.

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Our Rationales

Coin Ceylon’s Rationale for Voting YES on the 2025 Cardano Ecosystem Budget - 275M ADA Administered by Intersect

Coin Ceylon has voted YES on the proposal to allocate 275,269,340 ADA across 39 essential initiatives that support Cardano’s infrastructure, research, marketing, governance, and ecosystem development throughout 2025.

This marks a historic milestone, the first on-chain community-led budget and we believe it lays the groundwork for a transparent, decentralized, and scalable funding model for the protocol’s future.

The budget was shaped by an open submission process, with priorities aligned through a structured DRep signaling phase. It reflects a wide range of ecosystem needs, from core development to community governance, grounded in real feedback from stakeholders.

Funds will be administered by Intersect, with strong commitments to transparency. Withdrawals will be executed via separate on-chain governance actions, ensuring every release is accountable, reviewed, and bound by the active Net Change Limit (NCL).

We value the proposal’s inclusion of smart contracts, multi-signature protections, and phased disbursements, which help reduce risk while building infrastructure for more autonomous treasury management over time.

With 2025 shaping up to be a key year for Cardano and the broader blockchain space, this budget enables the network to invest, grow, and compete globally without sacrificing financial discipline or decentralization.

Conclusion
We believe this proposal reflects a mature and collaborative governance process and sets a strong precedent for how Cardano can manage its Treasury responsibly guided by community priorities, implemented with transparency, and safeguarded through governance.

If our values align with yours, we welcome you to delegate your voice to Coin Ceylon Drep as we continue to support thoughtful, impact-driven governance in the Cardano ecosystem.

Coin Ceylon's Rationale for Voting NO on the 2025 Cardano NCL - 200M Proposal

At Coin Ceylon, our responsibility as a DRep is to ensure that governance decisions serve the long-term health, functionality, and sustainability of the Cardano ecosystem. After carefully reviewing the governance action proposing to set the 2025 Net Change Limit at 200 million ADA, we have decided to vote NO on this proposal.

Earlier this year, the Cardano community, through a legitimate governance process, approved a Net Change Limit of 350 million ADA for 2025. That vote passed with an overwhelming majority, supported by approximately 75% of active DReps. Reversing that decision now, without a significant shift in ecosystem conditions, undermines the stability and predictability that effective governance demands.

Stable guardrails are essential when launching the first ever on-chain budgeting process for Cardano. Changing the parameters midway would send a mixed message to builders, developers, and contributors who are already drafting budgets under the 350M ADA framework.

2025 is shaping up to be a crucial year for Cardano and the broader blockchain industry. As global adoption increases, Cardano must be ready to invest, not hesitate. Whether it's funding core development, onboarding new users, or scaling infrastructure, a strong Treasury is a strategic asset.

Reducing the NCL now could constrain Cardano's ability to compete, especially when key ecosystem priorities such as Infrastructure upgrades & maintenance, partner chain integrations, governance tooling, community onboarding and global education, are still under development and require capital support.

The NCL is not a spending mandate, it is a withdrawal ceiling. Setting it at 350M ADA does not mean we will spend the full amount, but it preserves flexibility while we learn and improve our budgeting processes.

It's also worth noting: with Treasury inflows averaging 350M ADA annually, the current NCL is already designed to be supply-neutral, allowing us to support essential spending without depleting the reserve.

Reducing the ceiling too aggressively, might put us in a position where we're limiting long-term strategic investments based on short-term caution.

A lower NCL introduces the risk of fragmentation and a rush for funding. DApps, service providers, and community builders may scramble to secure Treasury funds early, potentially favoring short-term asks over long-term planning.

At this stage, our priority should be on building a coordinated, transparent, and community-guided budgeting culture not a scarcity-driven race to the Treasury.

Conclusion
For all these reasons, Coin Ceylon DRep will vote NO on the 200M ADA NCL proposal.

We stand by the previously approved 350M ADA Net Change Limit, as a responsible and future-ready decision that provides Cardano with the stability, flexibility, and funding confidence it needs in this pivotal year.

If you support responsible, growth-oriented governance - delegate to the Coin Ceylon DRep today!

Coin Ceylon’s Rationale for Voting NO on the Treasury Tax Reduction Proposal (20% → 10%)

At Coin Ceylon, our role as a DRep is to ensure that governance decisions support long-term sustainability, decentralization, and the growth of the Cardano ecosystem. After careful consideration of the proposal to reduce the Treasury tax rate from 20% to 10%, we have decided to vote NO based on the following critical factors:

The blockchain industry remains dynamic and evolving, with significant work still needed in infrastructure, research, and governance. Innovations, emerging market opportunities, and strategic partnerships are continuously reshaping the landscape. For Cardano to thrive, it must seize these opportunities while ensuring that its systems remain efficient and robust. Cutting the treasury tax to 10% at this stage risks limiting the funding necessary for these crucial efforts, potentially slowing development and innovation just when competition is intensifying. A robust treasury is essential for Cardano to pursue new opportunities, strengthen its ecosystem, and maintain a competitive edge in a rapidly advancing industry.

While increasing staking rewards is an important goal, simply boosting them by reducing the treasury tax is only a temporary fix that does not resolve the underlying issue of low transaction volumes. If transaction fees remain low, staking rewards will continue to diminish over time—regardless of any tax adjustments. Instead, our focus should be on driving adoption, enhancing scalability, and increasing transaction volumes. A stronger, more widely adopted network will naturally result in higher staking rewards without compromising the essential funding needed for ongoing development.

As we prepare to submit the first-ever Cardano Ecosystem Budget—supported by a net change limit of 350M ADA—it is crucial to ensure that the treasury remains well-funded. Reducing the treasury tax now would negatively affect the net replenishment rate, thereby reducing the funds available for critical budget withdrawals. With 2025 poised to be a pivotal year for blockchain and cryptocurrency adoption, Cardano must remain competitive through increased exposure, adoption, and ecosystem expansion. This requires substantial funding for marketing, education, partnerships, and technological advancements. An immediate tax cut risks undermining Cardano’s capacity to make these essential investments at a critical time.

Treasury funds are allocated strategically and transparently to support Catalyst, governance initiatives, and long-term ecosystem stability. Importantly, unclaimed staking rewards—returned to the reserve—effectively increase the actual treasury accumulation rate beyond the nominal 20%. Dropping the treasury tax abruptly to 10% could therefore have a more significant impact than it appears on the surface, introducing unnecessary risk by potentially underfunding future development. Maintaining a robust treasury is crucial to support decentralized decision-making and innovation, particularly as Cardano transitions into the Voltaire era.

Rather than an immediate reduction to 10%, a phased or conditional approach would be a more responsible alternative. For instance, a gradual step-down—from 20% to around 17% or 15%—would allow the ecosystem to assess the impact without disrupting treasury funding. Additionally, implementing a dynamic treasury tax model that adjusts based on transaction volume, treasury reserves, and governance funding needs could provide a better long-term solution. Cardano’s governance should prioritize strategic, data-driven economic adjustments that reflect current market conditions and network growth.

At Coin Ceylon, we remain committed to ensuring Cardano’s long-term success. While we recognize the importance of boosting staking incentives, we believe that maintaining a well-funded treasury is critical for sustaining innovation, governance, and ecosystem development. With the impending launch of the Cardano Ecosystem Budget and 2025 marking a crucial period for blockchain adoption, preserving treasury funding is essential to support critical investments in exposure and growth. For these reasons, we are voting NO on this proposal at this time.

We encourage continued dialogue on sustainable treasury management and remain dedicated to supporting thoughtful, evidence-based economic governance for the Cardano ecosystem.

Delegate to the CoinCeylon Drep Today!