Input Output Global (IOG), the development firm behind the Cardano blockchain, has announced its intention to withdraw from the Interim Constitutional Committee following the completion of community elections. This strategic decision aims to significantly curtail the company’s role in governance ahead of the scheduled Chang Hard Fork in 2024. In a series of communications dated May 28, IOG expressed pride in its previous contributions to the committee but confirmed it will not seek re-election, emphasizing confidence in the Cardano community’s capacity to assume these responsibilities independently.
IOG highlighted its leadership of the interim committee during the August 2024 hard fork, which was pivotal in successfully navigating this transitional phase. The company also pledged to maintain on-chain voting mechanisms and continue issuing clarifying statements until the end of its term. Prospective candidates have been encouraged to engage with the Intersect organization and existing committee members to facilitate a smooth electoral process.
Charles Hoskinson, Cardano’s founder, endorsed this development, noting that his official involvement is nearing its conclusion and emphasizing the need for fresh perspectives and energy within the governance framework. The Interim Constitutional Committee was originally established during the Chang upgrade to introduce Cardano’s foundational on-chain governance infrastructure, enabling ADA holders to elect representatives and propose governance initiatives.
According to the Intersect electoral roadmap, candidate registration is open from May 1 to May 31, with voting scheduled from June 10 to July 10. Successful candidates will be certified between July 10 and August 1, followed by formal ratification of the new committee in August and September. The three candidates receiving the highest votes will serve two-year terms, while the remaining four will serve one-year terms, ensuring continuity in governance through staggered elections.
While IOG’s withdrawal does not impact its technical responsibilities, it marks a significant evolution in Cardano’s governance landscape, transitioning from founder-led oversight to a more community-driven model. This shift represents a major milestone in actualizing Cardano’s “governance by holders” principle, a central element of its original roadmap. Approximately 4 million ADA wallets will gain direct influence over the interpretation and implementation of Cardano’s constitution through this election.
If the election process proceeds as planned, Cardano will enter a new chapter in September with its first fully elected Interim Constitutional Committee, while IOG steps back to assume a role as an equal stakeholder rather than a governing authority. At present, ADA is trading near $0.75 USD.
Source: bitcoinist
