Cardano’s constitution is set up to shape the treasury and Daffy’s wish.

Cardano reached a major milestone with the approval of the constitution at the international convention held in Argentina and Cannes.enya on December 5-6.

The event brought together developers, investors, researchers, ADA stakers and delegates to shape the governance and future of the blockchain network.

At the Constitutional Conference of Cardano, an overwhelming 95% of representatives – 60 out of 63 members – approved the constitution. This foundational document guides the network's management, scaling, and technology developments. It includes provisions for sustainable growth, strong decision making and effective treasury management.

In his address, Cardano founder Charles Hoskinson described the approval as the culmination of years of work. Emphasizing the importance of making Cardano stronger and more capable, he expressed his belief that the constitution will empower the community to drive the evolution of the network.

“Voltaire is incredibly important. That's why what you've done here is incredibly important [because] It makes us smarter and more capable. It wasn't just those flags; These are representations of tens of millions and hundreds of millions of people — every person behind those flags could be a person in our ecosystem, and what makes them unique could be ours,” Hoskinson said.

In particular, Hoskinson has previously highlighted the role of the constitution in governing complex matters such as treasury policies. If Cardano establishes itself as a Bitcoin-based DeFi layer, it explained how it will handle assets such as wrapped bitcoins.

The constitution outlines measures to create a legal entity to protect against bad actors in the network. This initiative is consistent with Cardano's broader vision during the Voltaire era, which prioritizes decentralized and community-based governance.

However, the approved constitution will move through the chain next month for review and approval by the Decentralized Representatives (DReps). According to Cardanoscan Explorer, there are about 800 DReps in the ecosystem, more than 50% of which are active.

This achievement comes at a time of notable growth for Cardano. According to Input Output Global (IOG), the network recently surpassed 100 million total transactions after recording 2.65 million new transactions in November. Cardano-based projects have grown to 1,979, 603 new initiatives have been added.

Cardano's DeFi ecosystem has also seen significant growth, with total value locked (TVL) jumping from $228 million to $686 million in early November. Meanwhile, ADA, Cardano's native token, has increased by 184% in the past 30 days. Currently trading at $1.20, ADA has tripled over the past month.