Launching Cardano dRep Education and Awareness Campaign

The Project Catalyst funded group, DRep Chain on September 14, 2024, live streamed its first webinar, titled “Launching Cardano DRep Education and Awareness Campaign” – marking its introduction to the cardano ecosystem as team and a DRep Pioneer. With the objective to provide educational support, and engage the community as Cardano transitions into a decentralized governance system, the DRep Chain team emphasized the need for qualified dReps and the accessibility of resources and information to everyone.

Watch: Recap of Cardano DRep Webinar #1

The first event, which was focused on educating new dReps about the Cardano protocol, the role of dReps, and the decision-making process had over 60 virtual attendees and successful session lead by two speakers, Nana Sarfo and Nathaniel Dwamena, who alternated covering important topics like: 

• The 3 pillars of Cardano’s governance (Voltaire Era) – Cardano’s governance protocol proposed under the CIP 1694 introduced three core pillars for on-chain decision making.

1. Established Intersect MBO helps push for more community participation and drive the governance framework
2. Constitutional Committee – Currently interim, the constitutional committee plays the role of  reviewing the constitutionality of governance actions and maintaining the Cardano blockchain’s stability, and network security in the interim period.
3. Democratic Consent – All participants in the ecosystem should and must have an opportunity to give feedback and shape decisions.
   

• • Governance action enactment process – This follows the process of submitting a governance action, getting ratified through on-chain voting from Dreps, SPOs and Constitutional Committee, and then it gets enacted.
  • Understanding Delegation – Delegating allows dReps to coordinate and form policies together, review data and consult with experts. Direct voting exists for all Ada holders, however for some, when things get overwhelming and too technical, it’s necessary to delegate voting power.

• Code of conduct – All non-binding rules, however, are valuable elements in the system. As things like fairness, competency are required of all dReps.

Insights from the Webinar

The event has relayed what all in the Cardano community are looking forward to – a fully decentralized governance model. The standards of a free and fair liquid democracy (also known as delegate democracy) will allow delegators support specific policies, and be allowed to move around their allocated power based on policies or expert representatives. At the end of a successful webinar session, the message the audience left with was on the importance of making informed delegation as an Ada holder. If the motive is to build together a working governance system, then it matters to choose the right representatives with expertise in Cardano’s infrastructure.

You can read the slides for a detailed understanding of the discussion and insights shared by the speakers at the event here.