A fully open-source voting tool empowered community members and organizations to engage directly with governance actions, while collaboration with Griffin AI resulted in the Proposal Examiner (beta) , providing structured assistance in evaluating proposal content. Complementing these technical solutions, the Foundation was pleased to produce and introduce the Governance Action Flow Charts , a resource that helps to outline and support the reader in visualizing the approval process of governance actions – including voting thresholds, parameter changes, and voting responsibilities. On top of that action, updates to the Developer Portal provided clearer pathways for submitting governance actions, understanding constitutional processes, and navigating the roles of DReps and the Constitutional Committee. Beyond tooling and ecosystem resources, the Foundation works regularly and diligently to reach ada holders through a wide range of channels. Regular engagement through Roundtable Talks, SPO Table Talks, Developer Office Hours, X Spaces , as well as the launch of Cardano Seminars , was key in 2025 to supporting transparency and allowing participants to raise questions, discuss proposals, and contribute to governance in real time. These sessions played a key role in strengthening governance literacy and ensuring that knowledge was shared across both technical and non-technical audiences. Beyond governance, these engagement outlets also helped the Foundation to support ecosystem builders and contributors in other ways – not only by spotlighting their work, but also giving them the chance to add value through the exchange of knowledge. Governance continued Internal governance maturity and Intersect collaboration Ensuring a strong, transparent, and ethical framework for our own activities is a priority for the Cardano Foundation, both from an internal and external operations perspective. Internally, 2025 saw the Cardano Foundation complete additional work to refine the Foundation’s own governance structures and decision-making processes. The Governance Advisory Team (GAT) , established at the start of the year, completed its first operational cycle and underwent a structured review in August to improve efficiency and clarity. A dedicated DRep Delegation Methodology and a Constitutional Committee Election Framework were also developed to ensure the Foundation’s participation aligned with best practices emerging across the ecosystem. Externally, as an Enterprise Member of Intersect , the Foundation team members served on multiple committees to drive the ecosystem forward, including the Civics Committee, Technical Steering Committee (TSC), Open Source Committee (OSC), Budget Committee, Product Committee, Marketing and Growth Committee, Steering Committee, and the Oversight Committee . These contributions supported the development of the Cardano 2030 Vision and Strategy , the 2026 Budget Process , and the broader constitutional design work needed to ensure governance remains robust, accessible, and resilient. Budget oversight remained a key area of responsibility. The Foundation evaluated and voted on committee submissions, Ekklesia proposals, and other governance actions, reinforcing the importance of clear rationales and measurable objectives for all budget requests. Community programs and engagement The Cardano ecosystem could not survive and thrive without the commitment and engagement of its talented community, whom the Cardano Foundation continued to support and highlight in 2025. A primary vehicle for this engagement is the Ambassador Program , which continues to serve as a vital entry point for community involvement in governance as well as offering a clear pathway for community members to take action and contribute meaningfully to Cardano’s growth. As it entered Phase 4, the program underwent strategic changes to improve the experience of Cardano Ambassadors, promote impact, and celebrate contributions. Key updates included a streamlined reward system, simplified contribution tracking, and improved communication tools to support better collaboration. Additional education and communication efforts from the Foundation also supported and assisted a variety of community members in 2025. This included a dedicated content workstream that expanded public-facing materials, producing short-form videos, roundtable recordings, developer office hours, the launch of the Developer Spotlight, Cardano Seminars, and event recaps to broaden understanding of governance developments. Outside of this, the Cardano Forum , Slack workspace, and bi-weekly Community Digest remained core communication hubs, ensuring consistent access to updates, resources, and coordination opportunities. Through these channels, the Foundation supported an informed and active community capable of contributing meaningfully to the governance process. 13 Cardano Foundation Activity Report 2025 m ada 1 0 2 3 4 5 6 7 8 9 4 0 2 3 4 5 6 7 8 9 0 0 2 3 4 5 6 7 8 9 DRep Delegation Program amount distributed to seven Builder DReps % . 2 0 2 3 4 5 6 7 8 9 0 0 2 3 4 5 6 7 8 9 1 0 2 3 4 5 6 7 8 9 Governance investment Cardano Foundation 2025 spending