The Cardano Foundation voted against the 22 million ADA Copper proposal, and EMURGO and Yoroi abstained

The loudest vote of the day is a no, not a new tag. On 28 October at 19:45 Central European time the Cardano Foundation said it had voted against the Cardano Strategic Copper Reserve, a withdrawal of 22 million ADA for copper tokenization. The post is @Cardano_CF. The reasoning is in the thread and on Cardanoscan. The reasons the Foundation gives are single-party control, high fees, and safeguards that are still in development. SongMarketCap also cites exposure to a single commodity and insolvency protection.

What is in the proposal, and who abstained

According to SongMarketCap, of the 22 million ADA about 14.72 million would go into copper, the CuTT token, and Toto would receive up to about 3.36 million. Toto holds legal title. The assets are held for 18 to 24 months, and the return runs to month 36. Copper has to rise about 49 percent for the treasury to get back to zero. That is their reading of the proposal.

EMURGO and Yoroi abstained because of the planned DRep deregistration on 30 November. In epoch 664 Yoroi has about 401.3 million ADA delegated, and EMURGO about 212.2 million. Koios shows that on the proposal itself: active abstain power on Copper rose from 136.4 million ADA on 28 October to 749.8 million. The difference is 613.4 million ADA and matches the sum of those two DReps. That is a calculation from the Koios field, not a separate announcement. The tally is 4 yes, 80 no, and 5 abstain, with 0.37 percent of power on yes. Yesterday yes power was 0.32 percent. The constitutional committee is 0 to 2. Tingvard and Ace Alliance voted against. Pool operators do not vote on treasury withdrawals. Pool votes are zero.

A direct pool-operator reaction to the Foundation's vote was not found in the X sample. Among users the tone is mostly with the Foundation and against Copper. @cryptodotnews relayed the news. @CheekyCrypto commented. @MacCardano proposes an N-of-M script as a custody fix. The critical voice is @TheRealWeb3Kat, who called one DRep's campaign hypocritical and compared it with AlphaGrowth's 120 million ADA.

On the same Koios list, at 14:15, PFMS for 9.6 million ADA stands at 23 yes, 18 no, and 3 abstain. Yes power is 17.74 percent, yesterday 5.95. In absolute terms yes power rose from 310.1 million ADA to 924.8 million. The threshold for a withdrawal is 67 percent, so the proposal is still far from it. The constitutional committee is 1 to 0. SongMarketCap writes that PFMS was discussed on the Da Waffle House Space. Blockjock is against because they would rather see Liquidity Fund Part Two. BKIND is against on cost against benefit. ADAtainment is for, and says they work for the Foundation, which would administer the funds. The plan runs 15 months in five payouts, with the first 1.8 million ADA at signing. AURORA is at 13 yes, 37 no, and 9 abstain, yes power 3.37 percent, yesterday 2.95, constitutional committee 0 to 2. The Foundation's information poll is at 2 yes, 2 no, and 10 abstain, power 0.26 percent. None of the withdrawals has cleared the threshold.

Intersect Weekly 135 has not been published. The last one is 134, from 24 October, with figures as of 22 October: Copper 0.25 percent, AURORA 0.38 percent, PFMS 2.93 percent. That is not the same row as today's Koios. The treasury still stands at 1,389,274,982 ADA, unchanged. The next change is on 31 October at 22:44:51. Reserves are 6,039,227,746 ADA. Withdrawals of 32.54 million ADA are pending, the sum of Copper, AURORA, and PFMS. That is a calculation, not an approval.

A benchmark on pool-operator hardware

On 29 October Michael Karg published Intersect's Performance and Tracing update. Alongside the Leios prototype and the week 42 benchmarks, the note brings transaction-validation benchmarks on pool-operator hardware. Leios here means consensus throughput. The raw latency gap is about 32 times. After a CPU correction it is about 7 to 8 times. Disks with a write-through cache are about 6 times slower, more than 3 times after the correction, except behind a RAID controller with a battery. Hermod Tracing 1.1.0, pull request 21, closes the preparation phase. Dropping filtered traces is about 7 times cheaper. The missed-slot counter, pull request 6726, and UTF-8, pull request 6731, are fixed. New Dijkstra workbench profiles were added for nested transactions, batching at the ledger level, and for reference scripts. Dijkstra is the next ledger era.

cardano-node 11.2.0 is still only a pre-release. It was published on 28 October at 13:53. There is no 11.2.x tag and no 12.x tag. Since yesterday, according to the GitHub API, node 6750 merged at 01:03 on 29 October, and so did 6745, ledger 6232 at 00:35, 6230, and 6221, plus Plutus 8021 at 11:43, builtins metatheory in batch 7, and 8020. A hard fork on mainnet is not confirmed as of 29 October 2026. A DijkstraNet fork onto 11.2 is not confirmed. The DijkstraNet page is not responding today. Musashi Dojo is live and announces a next phase, Fire, with a gradual increase in load. The date of that phase is not stated.

Dingo v0.90.0 shipped today at 11:24. A Mithril unstable build shipped at 11:06. The Mithril update is from 28 October. At 11:08 @TeragoneFactory announced a Mithril 2027 proposal for the treasury. On 28 October at 19:52 @HAMDAStakePool wrote that they are running Leios rc-2026w43 on all three test nodes. Intersect's Members Meeting was held today at 12:00. The content of the meeting has not been published. The Daedalus dApp connector: the CIP-30 code is merged, but it has not been released. That is SongMarketCap from 28 October.

CMTA and the CIP-0113 recognition

Today at 11:15 the Cardano Foundation announced membership in the Swiss Capital Markets and Technology Association. CMTA recognized CIP-0113 as a technical equivalent of CMTAT for tokenized shares, so issuers can tokenize shares that can be certified. crypto.news reports that today at 11:50. The recognition dates from 6 October according to crypto.news, and from 7 October according to SongMarketCap. The sources differ by one day. It covers equity securities only, not tokenized debt and not Cardano's base infrastructure. Each issuer still has to meet Swiss legal and certification conditions. Cardano had already used CIP-0113 to tokenize shares of Veridian, a company spun out of the Foundation. According to SongMarketCap, CIP-0113 means programmable asset tokens, with transfer limits and freezing. No specific new issuer is named. A pool-operator reaction was not found. @CullahMusic writes that CIP-0113 is on mainnet. The CIP-113 roundtable is today at 15:00.

For the 2027 budget, under the CEBP label, six of seven domains have stewards. Intersect leads core development, applied research, and governance coordination. PRAGMA leads developer support. The Foundation leads marketing and adoption. The seventh domain, Open Contributions, has no steward. The plan is a one-year trial. The first information action targets 10 November, with a threshold of at least 51 percent. The limits are a social contract, not an on-chain rule. At 12:45 today @hix_coffeepool commented on the seven domains. Sundae and Liqwid describe a pool on Sundae v4 that keeps 80 percent of deposits, for example ADA and USDM, in Liqwid and pulls them inside the transaction for large swaps. A release date is not stated. PRIME is aiming at more than $200 million of additional locked value. That is an outline, not liquidity that is already in.

Calendar, Central European time. Still today: the CIP-113 roundtable at 15:00 and CAP Review at 16:00. On Friday, Dev Office Hours 85 at 16:00 and the Brazil deadline. Epoch 665 begins on 31 October at 22:44:51. Keystone deletes Shopify data on 3 November, as expected, and NuNet reviews a balance the same day. The Foundation poll deadline is 6 November. The budget information action targets 10 November. London is 12 and 13 November. Copper expires in epoch 668, about 15 November according to yesterday's file. EMURGO and Yoroi deregister their DReps on 30 November. Still quiet: Weekly 135, a mainnet-ready 11.2.x, hydra-updates for week 44, an Essential Cardano dev report after 23 October, and the Cardano tag on Cointelegraph, last seen on 21 October.

Sources: @Cardano_CF, Copper, thread, Cardanoscan, vote, SongMarketCap, Copper, Koios, votes, @cryptodotnews, @CheekyCrypto, @MacCardano, @TheRealWeb3Kat, SongMarketCap, PFMS, Intersect Weekly 134, Koios, treasury, Intersect, Performance and Tracing, cardano-node 11.2.0, Dingo v0.90.0, Mithril, 28 October, @HAMDAStakePool, @IntersectMBO, meeting, @Cardano_CF, CMTA, crypto.news, CMTA, SongMarketCap, CMTA, @CullahMusic, SongMarketCap, 2027 budget, @hix_coffeepool, SongMarketCap, Sundae and Liqwid, Musashi.