The Cardano community has just passed an important resolution, causing quite a stir in the crypto world. Over 70% of token holders voted in favor, which means Cardano is getting serious — they are preparing to unlock nearly $71 million to advance core protocol development.

This proposal is significant and was led by Cardano's own governance organization, Intersect. In simple terms, it aims to give Cardano a major upgrade, and the official name for this new phase is quite impressive: "Constitutional Era." Upon careful review, it essentially aims to hand over more decision-making power to the community, allowing token holders to have a true say.

What concerns people the most now is how that $71 million will be spent. According to the proposal, the funds will primarily be used in three areas: first, for upgrading the underlying protocol; second, for improving development tools; and finally, to reserve a portion for community incentives. Insiders have revealed that the first focus will be on optimizing smart contract performance, as Cardano has been criticized for its slow speed in this area.

However, there are also opposing voices. About 26% of the votes were against, mainly concerned about fund management issues and the fear of misuse of this large amount of money. Intersect quickly responded, stating that it will establish a strict oversight mechanism to ensure that every expenditure is public and transparent.

Interestingly, after this vote passed, Cardano's coin price did not experience much fluctuation. It seems the market is still observing, as this type of on-chain governance transition is quite unprecedented in the industry. If successful, it could set an example for other public chains. But if it fails... then the tuition fee of $71 million could be quite expensive.