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Cardano's CIP-1694 Puts Governance Power in the Hands of ADA Holders

Cardano is exploring a new upgrade called CIP-1694, which aims to bring on-chain governance to the ecosystem and give power back to ADA holders. The proposal includes the formation of governing bodies, voting policies, and other governance details related to on-chain governance. The goal is to transition Cardano into a fully decentralized autonomous organization (DAO) and give every ADA holder a say in the future direction of the project. This marks a significant milestone for Cardano, which has been at the forefront of cutting-edge technology, but its native token ADA continues to struggle in the market.

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