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chapters/chapter-05-governance.adoc

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@@ -595,7 +595,7 @@ The constitution was officially signed on the third day of the convention, and s
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The second and final stage of the Chang upgrade, the Plomin hard fork occurred on January 29, 2025. Cardano’s move to the Voltaire development phase(((Voltaire development phase))) was now complete and Cardano was henceforth to be fully governed by the community.
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The ratified constitution was https://adastat.net/governances/8c653ee5c9800e6d31e79b5a7f7d4400c81d44717ad4db633dc18d4c07e4a4fd00[enacted] on February 23, 2025. It formalized the roles of ada holders, DReps, SPOs, and the Constitutional Committee(((formalized the roles of ADA holders, DReps, SPOs, and the Constitutional Committee))) but importantly, remains a ‘living document’ not set in stone.
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The ratified constitution was https://adastat.net/governances/8c653ee5c9800e6d31e79b5a7f7d4400c81d44717ad4db633dc18d4c07e4a4fd00[enacted] on February 23, 2025. It formalized the roles of ada holders, DReps, SPOs, and the Constitutional Committee(((formalized the roles of ada holders, DReps, SPOs, and the Constitutional Committee))) but importantly, remains a ‘living document’ not set in stone.
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image::../images/5.8_lloyd_selfie.png[]
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*Figure 5.9:* Chair of Proceedings in Buenos Aires, Lloyd Duhon, marking the historic moment with a group selfie at the Buenos Aires
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A balance must be struck so rigorous analysis doesn’t lead to procrastination. With competitor blockchains spending vast sums at the drop of a hat, the process needs to be more agile, making funds more accessible so Cardano can pivot easily and compete in a volatile industry. This can be achieved while still adopting prudent investment strategies ensuring fiscal responsibility.
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Cardano’s treasury holds approximately 1.7 billion ADA, so ensuring its long-term sustainability is critical. Some have looked to existing structures, such as Sovereign Wealth Funds, drawing inspiration from the https://www.ifswf.org/sites/default/files/santiagoprinciples_0_0.pdf[Santiago Principles]. However, the Cardano treasury’s ada-first policy lacks options to diversify assets. Adding Cardano native tokens, stablecoins, and other assets would mitigate risks of market volatility. Intersect is working on adopting Cardano’s native stablecoins(((native stablecoins))) as part of the evolving strategy. USDM (@USDMOfficial) and USDA (@AnzensOfficial) are obvious candidates to bootstrap more practical funding mechanisms across the ecosystem.
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Cardano’s treasury holds approximately 1.7 billion ada, so ensuring its long-term sustainability is critical. Some have looked to existing structures, such as Sovereign Wealth Funds, drawing inspiration from the https://www.ifswf.org/sites/default/files/santiagoprinciples_0_0.pdf[Santiago Principles]. However, the Cardano treasury’s ada-first policy lacks options to diversify assets. Adding Cardano native tokens, stablecoins, and other assets would mitigate risks of market volatility. Intersect is working on adopting Cardano’s native stablecoins(((native stablecoins))) as part of the evolving strategy. USDM (@USDMOfficial) and USDA (@AnzensOfficial) are obvious candidates to bootstrap more practical funding mechanisms across the ecosystem.
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*Staying informed*
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chapters/chapter-06-wallets-in-the-world-of-cardano.adoc

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Below are examples of what wallet addresses look like for Cardano, Ethereum, and Bitcoin. Each of these addresses is a string of characters that includes numbers and letters, both uppercase and lowercase, specific to the blockchain they belong to:
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*Cardano (ADA) address:*
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*Cardano (ada) address:*
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[source]
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----
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*Lace*
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Lace began life as a slim, browser-based wallet for Cardano, designed to make holding and sending ADA as simple as opening a new tab. Fast-forward to its latest release, and Lace has evolved into a full-featured Web3 launchpad: it now supports main-net Bitcoin alongside ADA and Cardano native tokens, integrates NFT management and one-click staking into the same clean interface, and replaces long wallet addresses with short, human-readable Handles. All of this is wrapped in an intuitive extension that installs on Chrome, Brave, Edge, or Firefox in seconds.
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Lace began life as a slim, browser-based wallet for Cardano, designed to make holding and sending ada as simple as opening a new tab. Fast-forward to its latest release, and Lace has evolved into a full-featured Web3 launchpad: it now supports main-net Bitcoin alongside ada and Cardano native tokens, integrates NFT management and one-click staking into the same clean interface, and replaces long wallet addresses with short, human-readable Handles. All of this is wrapped in an intuitive extension that installs on Chrome, Brave, Edge, or Firefox in seconds.
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But Lace is more than a place to park your coins. Built-in governance tools enable you to cast votes or delegate voting power directly from your wallet. At the same time, a DApp connector drops you straight into DeFi, games, and marketplaces across the Cardano ecosystem. Add a fiat on-ramp, bundled transactions to save on fees, and optional Nami-mode compatibility for older dApps, and Lace becomes a single, lightweight gateway to staking, trading, collecting, and shaping the future of Cardano, as well as Bitcoin and Web3.
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Below is a quick tour of what the new Lace can do for you:
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* *Move value with ease* — send and receive ADA, Cardano native tokens, NFTs, and BTC. A built-in gallery shows your collectibles in full colour.
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* *Move value with ease* — send and receive ada, Cardano native tokens, NFTs, and BTC. A built-in gallery shows your collectibles in full colour.
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* *Skip address anxiety* — use short _Handles_ (e.g. +\1+) instead of long cryptographic strings when paying friends or businesses.
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* *Buy ADA in seconds* — a fiat on-ramp powered by *Banxa* lets you top up with a debit card or Apple Pay right inside the wallet.
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* *Buy ada in seconds* — a fiat on-ramp powered by *Banxa* lets you top up with a debit card or Apple Pay right inside the wallet.
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* *Earn rewards automatically* — one-click staking, plus a visual stake-pool explorer, helps you delegate ADA and start earning in minutes.
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* *Earn rewards automatically* — one-click staking, plus a visual stake-pool explorer, helps you delegate ada and start earning in minutes.
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* *Tap into Cardano dApps* — the _DApp connector_ links you to DeFi, games, and marketplaces with one confirmation.
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chapters/chapter-09-decentralized-applications.adoc

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==== Receiving test cryptocurrency
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In order to interact with the blockchain, users must spend some cryptocurrency. Since we want to avoid spending real cryptocurrency whilst testing we've switched to the Preprod test network (as discussed above), and need to obtain some test cryptocurrency. To do so we'll request some test Ada (Cardano's cryptocurrency) from a faucet.footnote:[Faucets are the term typically used for services that send test cryptocurrency.] One such faucet can be found here: +
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In order to interact with the blockchain, users must spend some cryptocurrency. Since we want to avoid spending real cryptocurrency whilst testing we've switched to the Preprod test network (as discussed above), and need to obtain some test cryptocurrency. To do so we'll request some test ada (Cardano's cryptocurrency) from a faucet.footnote:[Faucets are the term typically used for services that send test cryptocurrency.] One such faucet can be found here: +
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https://docs.cardano.org/cardano-testnets/tools/faucet[_https://docs.cardano.org/cardano-testnets/tools/faucet_]
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To retrieve test Ada, configure the fields as follows:
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To retrieve test ada, configure the fields as follows:
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* Environment: Preprod Testnet
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* Action: Receive test ADA
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* Action: Receive test ada
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Then, copy your wallet address. In Lace this can be done by clicking on 'Copy address' located at the bottom of the main screen of the wallet as depicted in <<fig-wallet-copy-address>>. Then paste the address in the address field. Ensure to click on "I'm not a robot" and press 'Request Funds'. A success message should appear shortly, and the test Ada should appear in your wallet within a few minutes.
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Then, copy your wallet address. In Lace this can be done by clicking on 'Copy address' located at the bottom of the main screen of the wallet as depicted in <<fig-wallet-copy-address>>. Then paste the address in the address field. Ensure to click on "I'm not a robot" and press 'Request Funds'. A success message should appear shortly, and the test ada should appear in your wallet within a few minutes.
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[[fig-wallet-copy-address]]
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[caption="Figure {counter:figure}. ", reftext="Figure {figure}"]
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[[fig-faucet]]
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[caption="Figure {counter:figure}. ", reftext="Figure {figure}"]
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.Requesting test Ada from a faucet.
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.Requesting test ada from a faucet.
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[#fig-faucet]
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image::faucet.png[]
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=== Using a DApp
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Now that we have some test cryptocurrency in our wallet, let's try to use a DApp. We'll use a decentralized exchange(((decentralized exchange))) (DEX) to swap some of our testnet Ada for some other token. More specifically we'll use a preprod test network version of the Minswap(((minswap))) DEX as follows:
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Now that we have some test cryptocurrency in our wallet, let's try to use a DApp. We'll use a decentralized exchange(((decentralized exchange))) (DEX) to swap some of our testnet ada for some other token. More specifically we'll use a preprod test network version of the Minswap(((minswap))) DEX as follows:
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. Go to https://testnet-preprod.minswap.org/[_https://testnet-preprod.minswap.org/_]
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. Connect your wallet by clicking 'Connect Wallet', then choosing 'Lace' (or a different wallet if you are not using Lace).
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[start=5]
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. The DApp is likely automatically loaded with details to swap from Ada (which you should have in your wallet) to Min (Minswap's own token). The testnet version of Minswap only supports swapping between Ada and Min. When you use the mainnet's version though you can choose to swap to other tokens as well. Enter an amount of Ada that you will swap in from your wallet, and the amount of Min that will be swapped out will be displayed (<<fig-minswap-review-trade>> depicts a swap of 123 test Ada to the relevant amount of test Min at the time of writing).
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. The DApp is likely automatically loaded with details to swap from ada (which you should have in your wallet) to Min (Minswap's own token). The testnet version of Minswap only supports swapping between ada and Min. When you use the mainnet's version though you can choose to swap to other tokens as well. Enter an amount of ada that you will swap in from your wallet, and the amount of Min that will be swapped out will be displayed (<<fig-minswap-review-trade>> depicts a swap of 123 test ada to the relevant amount of test Min at the time of writing).
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[[fig-minswap-review-trade]]
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[caption="Figure {counter:figure}. ", reftext="Figure {figure}"]
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image::lace-done.png[pdfwidth=45%]
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[start=9]
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. Once the transaction is confirmed on the blockchain, and the Minswap interface updates, you should see your balance of Min has increased (and Ada decreased) as depicted in <<fig-minswap-balances-updated>>.
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. Once the transaction is confirmed on the blockchain, and the Minswap interface updates, you should see your balance of Min has increased (and ada decreased) as depicted in <<fig-minswap-balances-updated>>.
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[[fig-minswap-balances-updated]]
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[caption="Figure {counter:figure}. ", reftext="Figure {figure}"]
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In line number 9, 11, and 13, we build the transaction, sign it and submit the transaction respectively.
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[start=5]
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. We also add a 'Send Funds' button to call the added functionality to send 3,000,000 Lovelace (3 Ada).
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. We also add a 'Send Funds' button to call the added functionality to send 3,000,000 Lovelace (3 ADA).
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For reference, the full updated index.html file follows:
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[#fig-sendFunds]
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image::redeemer42-sendFunds.png[pdfwidth=50%]
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Upon clicking 'Send Funds' the wallet should pop-up asking that you confirm to sending 3 Ada. It may take a while until the transaction is part of a block--you can check your wallet's transaction history and also search in a Cardano preprod network block explorer for your wallet's address for a successful transaction (at the associated date/time).
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Upon clicking 'Send Funds' the wallet should pop-up asking that you confirm to sending 3 ADA. It may take a while until the transaction is part of a block--you can check your wallet's transaction history and also search in a Cardano preprod network block explorer for your wallet's address for a successful transaction (at the associated date/time).
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===== Deploying a reference script for the Redeemer 42 example
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