The Cardano blockchain has reached a major milestone as it transitions to fully decentralized governance with the activation of the Plomin hard fork, The Block reported on Wednesday.

The Cardano Foundation announced the successful implementation of the hard fork, giving ADA holders substantial voting power over various aspects of the blockchain’s future, including parameter changes, treasury withdrawals, and hard forks.

The approval for the Plomin hard fork came last Friday after meeting three critical thresholds during the network’s interim governance phase. The criteria included upgrading at least 85% of stake pools to a version of Cardano nodes that is compatible with the new protocol rules, a majority vote from more than 51% of stake pool operators (SPOs) in favor of the upgrade, and confirmation by more than 67% of the Interim Constitution Committee (ICC) that the hard fork is in accordance with the blockchain’s constitution.

The Cardano Foundation had previously confirmed on Thursday that it had voted in favor of the Plomin Hard Fork governance action, deeming it constitutional. The hard fork enabled seven governance actions outlined in Cardano Improvement Proposal CIP-1694, which included treasury withdrawals, a new constitution proposal, and a vote of no confidence, among others.

Plomin’s hard fork also introduced a rule that only accounts delegated to a decentralized representative (DRep) can withdraw staking rewards, further strengthening the decentralized governance structure. With today’s governance action, which was originally submitted on-chain on December 20, Cardano’s treasury will now be under the control of ADA holders.

At the time of reporting, Cardano’s ADA token was trading around $ 0.91, having fallen more than 5% in the past 24 hours, according to data from The Block Price Page.