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Cardano Unveils Next Steps for CIP-1694 Governance Proposal

Cardano, the Proof-of-Stake blockchain protocol, has revealed the progress and next steps for its improvement proposal CIP-1694. The proposal aims to establish a Minimum Viable Governance framework, which has been discussed in 50 workshops involving around 1,000 community members. The consensus is to collect feedback and align the proposal with the needs of the community and the Cardano protocol. The Cardano core developers will present several voting options in the coming months to ensure the community guides the governance mechanism. Additionally, Cardano has released its layer-2 scaling solution, Hydra Head, and hosted the launch of DJED, a collateralized stablecoin.

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