# About Intersect's Administration Services

{% embed url="<https://drive.google.com/file/d/1U-ZG7E8Eh8h_3gd62x-mtXLD3-27uOGx/view?t=1.117>" %}

Intersect Administration Services supports vendors that get awarded funding from Cardano treasury and provide reporting transparency to the Cardano community by managing vendor contracts, ensuring transparent reporting, and maintaining clear communication across all funded work. Our goal is to help decentralize the Cardano ecosystem by making project delivery open, accountable, and accessible to the entire community.

<p align="center"><a href="/pages/PMcuXcLAzAjOWmILZlgm" class="button primary">Discover more</a></p>

***

## Intersect as an Administrator

Serving as an administrator in Cardano's funding process, Intersect helps turn community-approved projects into reality by handling the behind-the-scenes work; due-diligence, contracting, checking credentials, setting up contracts, and ensuring funds are spent in line with the contract.

Intersect does not evaluate proposal merit or act as a funding body, but ensures that the governance process is carried out with integrity and that delivery is trackable, auditable, and aligned with community decisions.&#x20;

## Who manages these services?

Intersect's Administration services is run by our Operational Services team in Intersect, combining experience in Project Management, Finance, Technical, IT, Procurement and Commercial.

## Administration Fee (From 2026 Onward)

From 2026, a 3% administration fee is applied to treasury withdrawals that Intersect administers. This fee supports milestone oversight, vendor coordination, reporting, procurement, contracting, and smart contract disbursement. Read the full [Administration Fee Framework](/administration/administration-fee-framework-for-intersects-2026-budget-process).

***

## Vendors Say About Us

<table data-view="cards"><thead><tr><th></th><th data-type="rating" data-max="5"></th><th></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4>Great support &#x26; Communication Throughout</h4></td><td>5</td><td><em>"The collaboration has been efficient and supportive. From the contract stage onwards, we've had clear expectations, quick responses to questions, and helpful guidance throughout the process."</em></td><td><a href="/files/dbwefaPAN3XWQeerAN08">/files/dbwefaPAN3XWQeerAN08</a></td></tr><tr><td><h4>Helpful &#x26; Professional Team</h4></td><td>5</td><td><em>"So far I haven’t found myself in any situations to complain about; the service provided by the team is more than satisfactory.”</em></td><td><a href="/files/CfPZGpSRizNB0X5OlMMq">/files/CfPZGpSRizNB0X5OlMMq</a></td></tr><tr><td><h4><em>Excellent Relationship &#x26; Trust</em></h4></td><td>5</td><td><em>"Intersect Administration is responsive and communicates regularly, we would point that we have excellent relationship and trust. We are looking forward to 2026 and next process."</em></td><td><a href="/files/pJ7EtZAudGU7YzrmeoAQ">/files/pJ7EtZAudGU7YzrmeoAQ</a></td></tr></tbody></table>

***

## Key Areas in this space

Find information quickly across the Knowledge Base.

<button type="button" class="button primary" data-action="ask" data-icon="gitbook-assistant">Ask a question…</button>

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4><strong>Administrative Services</strong></h4></td><td>Connecting projects with the Cardano community</td><td><a href="/pages/J2SvYMW1PLRgpmh2XQum">/pages/J2SvYMW1PLRgpmh2XQum</a></td><td><a href="/files/xOXLmQqhGFPmjTkM4KBp">/files/xOXLmQqhGFPmjTkM4KBp</a></td></tr><tr><td><h4>FAQs</h4></td><td>Quick answers to common user questions</td><td><a href="/pages/ftYELGrx6ViPvAEuMQ76">/pages/ftYELGrx6ViPvAEuMQ76</a></td><td><a href="/files/CfPZGpSRizNB0X5OlMMq">/files/CfPZGpSRizNB0X5OlMMq</a></td></tr><tr><td><h4>How-to Guides</h4></td><td>Step‑by‑step instructions for key tasks</td><td><a href="/pages/O8XEszSm66a6zYOKmcMd">/pages/O8XEszSm66a6zYOKmcMd</a></td><td><a href="/files/J0nkDYRTQHfljFdsnTcG">/files/J0nkDYRTQHfljFdsnTcG</a></td></tr><tr><td><h4>Reports</h4></td><td>Monthly and mid‑year project updates</td><td><a href="/pages/FXRQwwXIO7kyeYhCrlXF">/pages/FXRQwwXIO7kyeYhCrlXF</a></td><td><a href="/files/C9RiiKwESrFuLdgys4M5">/files/C9RiiKwESrFuLdgys4M5</a></td></tr><tr><td><h4>News &#x26; Updates</h4></td><td>News, Project and company updates.</td><td><a href="/pages/6NdHoI4zmQBQgijJsm8c">/pages/6NdHoI4zmQBQgijJsm8c</a></td><td><a href="/files/IpGK5Z5ARME8yXpEAVXA">/files/IpGK5Z5ARME8yXpEAVXA</a></td></tr><tr><td><h4><strong>Resources</strong></h4></td><td>Templates, tools, and supporting documents</td><td><a href="/pages/CvfnEUjQR4xKXogPgv67">/pages/CvfnEUjQR4xKXogPgv67</a></td><td><a href="/files/MxlCw63Oo1IpYMAVc9GY">/files/MxlCw63Oo1IpYMAVc9GY</a></td></tr><tr><td><h4><strong>Policies</strong></h4></td><td>Current policies, standards, and requirements</td><td><a href="/pages/IIFT6LGxYfvfgss0XlEE">/pages/IIFT6LGxYfvfgss0XlEE</a></td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr><tr><td><h4><strong>Glossary</strong></h4></td><td>Definitions of key terms and acronym</td><td><a href="/pages/2g1QrshriRbIs5qf4rHY">/pages/2g1QrshriRbIs5qf4rHY</a></td><td><a href="/files/WIMUqiIpi7xlh1CHmynE">/files/WIMUqiIpi7xlh1CHmynE</a></td></tr><tr><td><h4><strong>Contact</strong></h4></td><td>How to reach the right support team</td><td><a href="/pages/pWxXXIGZ3OjxD9cAzCDX">/pages/pWxXXIGZ3OjxD9cAzCDX</a></td><td><a href="/files/dbwefaPAN3XWQeerAN08">/files/dbwefaPAN3XWQeerAN08</a></td></tr></tbody></table>


# Administration Services

Your starting point for everything. Explore our services, understand how the program works, and choose the hub that matches your role.

## Watch here to find out more about our Administration Service

{% embed url="<https://drive.google.com/file/d/1wzFCFNL4tEdmnZABbujk1NwYcgreHNnh/view?usp=sharing>" %}

## Transparency and Reporting&#x20;

Transparency is a core principle of the administration service. We provide regular updates and maintain public reporting that allow the community to monitor the progress of funded projects.

<a href="/pages/LzR4gfsSWgrdYz1HjFMP" class="button primary">Read More</a>

## Smart Contract Infrastructure

Access our proven smart contract architecture and Treasury Dashboard.&#x20;

We handle the coding and management of escrow systems to ensure reliable, automated milestone payments.

<a href="/pages/uZG6jpwqNtCZyr3o3rsi" class="button primary">Read More</a>

## Legal & Regulatory Ops

We will manage your legal contract creation, KYC/KYB, and audit trails.&#x20;

Our team can also provide essential arbitration services to ensure all legal and regulatory obligations are met securely.

<a href="/pages/7lqMx1RumPfSFvZnz9Ym" class="button primary">Read More</a>

## Vendor Support&#x20;

Each funded project is supported through ongoing engagement with the vendor. Intersect maintains a consistent point of contact throughout the project lifecycle, helping vendors navigate milestone submissions, clarify requirements, and address any issues early.

<a href="/pages/fin0QI8cnCOv4bsWIsgZ" class="button primary">Read More</a><br>

***

## Discover More

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th></th><th data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h3>Vendor Guides </h3></td><td>All the tools, guidance, and resources you need to get your legal and smart contract, deliver your project, submit milestones, and manage payments, all in one place.</td><td><a href="/pages/6ISsRyVdsEdxmqiIe0bI">/pages/6ISsRyVdsEdxmqiIe0bI</a></td><td><a href="/files/dmg4nrZvwI3qfWj2zIfZ">/files/dmg4nrZvwI3qfWj2zIfZ</a></td><td><a href="/pages/MZuV8x3Rr4KErRTJ3rbh">/pages/MZuV8x3Rr4KErRTJ3rbh</a></td></tr><tr><td><h3>Third Party Assurer Guides</h3></td><td>Everything a Third‑Party Assurer needs to understand their role, responsibilities, and the full milestone validation process. </td><td><a href="/pages/yRE9ujCueE85nXhI5FDt">/pages/yRE9ujCueE85nXhI5FDt</a></td><td><a href="/files/RWiOMk24oDNFTMBigf8D">/files/RWiOMk24oDNFTMBigf8D</a></td><td></td></tr><tr><td><h3>Progress &#x26; Reports</h3></td><td>Follow funded projects, track progress, view vendor contracts, and stay informed with updates and reports that support transparent community governance.</td><td><a href="/pages/LzR4gfsSWgrdYz1HjFMP">/pages/LzR4gfsSWgrdYz1HjFMP</a></td><td><a href="/files/hwjNDIDH8F1eG0vh0XpH">/files/hwjNDIDH8F1eG0vh0XpH</a></td><td><a href="/pages/ftYELGrx6ViPvAEuMQ76">/pages/ftYELGrx6ViPvAEuMQ76</a></td></tr></tbody></table>


# Administration Fee Framework for Intersect's 2026 Budget Process

### Overview

From 2026, Intersect is introducing a **3% administration fee** applied to treasury withdrawals that we administer. This change ensures the administration service can operate sustainably, responsively, and proportionate to the ecosystem’s needs.

### Why we are changing the model

In 2025, administration was funded through a flat‑rate budget allocation. While workable, this approach had several limitations:

* It assumed a fixed scope of work over a fixed period, which meant the service was tied to a single annual budget cycle and limited our ability to support a broader range of proposals.
* We supported Snek and became the execution arm for the critical integrations workstream, however we could not reliably plan for our business activities.
* It created uncertainty for Vendors planning their own operations, as capacity was only guaranteed during a fixed budget cycle.
* Approvals clustered around a narrow period, creating operational bottlenecks.

This model restricted flexibility and did not reflect the dynamic nature of the Cardano ecosystem.

### A more sustainable approach for 2026

To better support a growing and evolving ecosystem, we are moving to a **3% administration fee** applied to treasury withdrawals.

This model:

**Ensures the service is always available**

Administration becomes an always‑on function rather than tied to a single budget cycle. If demand increases, capacity scales. If demand decreases, cost to the ecosystem decreases.

**Aligns cost with value**

The community pays for administration in proportion to the work being delivered. There is no need to pre‑fund a fixed overhead or manage surplus if fewer initiatives come through.

### What the administration fee supports

This fee enables us to provide the operational infrastructure required to support funded projects, including:

* Milestone oversight and verification
* Third-party technical spot reviews (new for 2026)
* Vendor coordination and support
* Transparent reporting and communications
* Maintenance of dashboards and tracking tools
* Continuous improvement initiatives
* Procurement, contracting, and smart contract disbursement

This ensures a consistent, reliable service for individuals, teams, and organisations across the ecosystem.

As a result of this change, we’re able to hone in on Intersect’s core services, namely our role in stewarding and coordinating the Haskell node and maintaining a member-based organization.

### What's included in the 3% charge?

{% hint style="info" %}

### How will the charge be applied?

If Intersect is selected as an administrator in the Hydra-Voting tooling, the 3% fee will be added on top of the proposal's budget.
{% endhint %}

* Covering treasury administration, contracting, payment execution, and reporting.
* Covering the requirements from Cardano Constitution by providing:
  * [Transparency and Reporting](/services/transparency-and-reporting-service)&#x20;
  * [Smart Contract Infrastructure](/services/smart-contract-infrastructure-service)
  * [Legal & Regulatory Ops](/services/legal-and-regulatory-ops-service)
  * [Vendor Support](/services/vendor-support-service)
* Complementary Intersect Enterprise Membership for the first year (Vendors are required to maintain a good standing membership throughout their contract duration).

More details in the related blog [here.](https://www.intersectmbo.org/news/intersect-administration-service-2026)

### What value have these services delivered so far?

Since the launch of the administration function, Intersect has helped establish a structured and transparent approach to managing funded work.

In 2025, the administration service has delivered several key outcomes:

* No additional operational costs to vendors, keeping participation accessible across the ecosystem
* \>325M ADA of Treasury funds administered
* 45 funded projects across multiple initiatives
* Milestones monitored and verified throughout project lifecycles
* Quality assurance and oversight, ensuring milestone deliverables meet the expectations set out in approved proposals
* Transparent reporting and communications, keeping the community informed about progress and outcomes.

These efforts help ensure that funding decisions made through governance are supported by clear oversight, verification, and accountability.


# Stablecoin Conversion Service

### Overview

Intersect now offers an **optional stablecoin conversion service** for vendors who wish to receive their smart contract payments in stablecoins rather than ada. This service is designed to give vendors a way to hedge against ADA price volatility, but it is optional. The default, and primary, approach remains ad&#x61;**-first**.

If you do not wish to use this service, your contract will proceed in ada as normal and no additional fee applies.

***

### Available Stablecoins&#xD;

If you elect to use the stablecoin conversion service, you may choose to receive payments in one of the following:

* **USDCx**
* **USDM**

***

### The 1% Conversion Fee&#xD;

* A fee of **1% of your total budget ask** applies if you choose stablecoin conversion
* Unlike the 3% administration fee which is added on top of your budget ask via the Intersect budget submission form, the 1% stablecoin conversion fee is **deducted from your budget ask.** It does not increase your total budget request.
* The fee covers trading and minting costs, plus the resource overhead of managing the conversion process.

{% hint style="info" %}
*Example: If your budget ask is ₳100,000, the conversion fee of ₳1,000 will be deducted, and the stablecoin equivalent of the remaining ₳99,000 will be available to fund your vendor specific smart contract, which can be withdrawn through our milestone delivery assurance process.*
{% endhint %}

***

#### This Is an Optional Service

It is important to emphasise that stablecoin conversion is a choice.

* You are not required to use it.
* The budget process promotes an ada-first approach.
* Stablecoin conversion is an **additional service** offered to support vendors who wish to reduce their exposure to ada volatility.
* If you do not want to pay the 1% fee, simply proceed with an ada contract as normal.

***

### Rules and Restrictions

**You cannot mix currencies within a single contract.**

Your contract must be denominated entirely in one of the following: ada, USDCx, or USDM. A combination is not permitted.&#x20;

**Your selection is final.**

Once the ada has been disbursed to the Third Party provider, your currency selection is locked and cannot be changed. Whilst there are mechanisms to modify smart contracts in terms of milestones, payment dates and cancellation they do not currently allow hot-swapping of assets.

***

### Exchange Rate and Stablecoin Amount

By choosing the stablecoin conversion service, you acknowledge and accept the following:

* Intersect, as administrator, cannot guarantee the exchange rate. The conversion will be carried out at the prevailing market rate at the time of exchange. *(Note this could be over a period of days for large trades).*
* As a result, **we cannot guarantee the exact amount of stablecoins you will receive** following the exchange process.
* The exchange will be carried out via **third-party partners.**

***

### Processing Time

Stablecoin contracts take **longer to set up** than standard ada contracts.

Because this process requires an addendum to be written into your contract to cover the stablecoin conversion terms, and due to the time involved in carrying out the exchange itself, you should expect your contract setup and payment processing to take longer than a standard ada contract. **Please factor this into your planning.**&#x20;

***

### Post-Milestone Payments

Once you claim milestone payments in stablecoins, please note that:

* Intersect **will not offer a service to convert your stablecoins back to ada** or any other currency.
* The stablecoins you receive upon milestone completion are your final payment in that form.

***

### Summary FAQ

| **Available stablecoins**                | USDCx or USDM                                                               |
| ---------------------------------------- | --------------------------------------------------------------------------- |
| **Conversion fee**                       | 1% of budget ask                                                            |
| **How fee is applied**                   | Deducted from your budget ask (not added on top like 3% administration fee) |
| **Can you mix stables/ada?**             | No - one per contract                                                       |
| **Can you change after going on-chain?** | No - selection is final                                                     |
| **Exchange rate guaranteed?**            | No - converted at prevailing market rate                                    |
| **Exact stablecoin amount guaranteed?**  | No                                                                          |
| **Who carries out the exchange?**        | Third-party partners                                                        |
| **Will Intersect convert back to ADA?**  | No                                                                          |
| **Is it mandatory?**                     | No - entirely optional                                                      |


# Contact Us

In this page you can find key contact details

## **Useful Contact Details**

Use the following email addresses for any contract‑related queries. This helps ensure your request reaches the correct team quickly and is handled efficiently

{% hint style="info" %}

#### **Operational Services**

For questions about day‑to‑day delivery, coordination, or operational support contact us at

[**Operational-services@Intersectmbo.org** ](mailto:Operational-services@Intersectmbo.org)
{% endhint %}

{% hint style="info" %}

#### **Procurement**

For queries related to contracting, onboarding, compliance, or procurement processes please fill this form or contact us at [**Procurement@Intersectmbo.org**](mailto:Procurement@Intersectmbo.org)
{% endhint %}

{% hint style="info" %}

#### **Billing**

For invoicing, payment status, or financial documentation, contact us at  [**Billing@Intersectmbo.org**](mailto:Billing@Intersectmbo.org)
{% endhint %}


# Transparency & Reporting Service

## Overview of the Service

Transparency is a core principle of Intersect's administration service
. We do not just process payments; we ensure that the entire governance process is carried out with integrity and that all delivery is trackable, auditable, and perfectly aligned with community decisions.&#x20;

This service translates governance-approved budgets into measurable technical and operational milestones. By combining cutting-edge on-chain dashboards with regular off-chain updates, we provide a comprehensive view of the ecosystem, allowing the community to seamlessly monitor the progress of all funded projects

## What value does this provide to Cardano Community

* **Full Community Observability**: As vendors complete their work, their submitted evidence is linked directly to the on-chain milestone. This means that a vendor's delivery becomes public information, allowing anyone to independently verify the completion of the work.
* **Immutable Audit Trails**: The entire financial lifecycle from the main Treasury Reserve Contract down to the Vendor Contract and individual milestone payments is captured, transparent, visible, and auditable on-chain. Any authorized action, withdrawal, or movement of funds leaves a permanent record.
* **Measurable Accountability**: By linking smart contract payments to our Delivery Assurance processes, the community gains objective assurance that treasury funds are only released when validated milestones are achieved.

## How do we provide this service?

We deliver this transparency through a combination of blockchain infrastructure, metadata standards, and accessible reporting tools:

1. **Smart Contract UI Dashboard**: We maintain and continually enhance a public-facing Treasury Dashboard. This interface streamlines workflows and makes it incredibly easy for the community to observe project details, view milestone progress, and track funds.
2. **On-Chain Metadata Verification**: When vendors submit their Milestone Acceptance Forms (MAFs), this evidence is attached directly to the smart contract dashboard as metadata. This permanently and immutably links the proof of work to the specific on-chain payment.
3. **Treasury Partitioning**: Rather than moving all funds in one massive transaction, we strategically divide treasury withdrawals into themed partitions or buckets. This breaks funding down into manageable, meaningful groupings, greatly enhancing community observability and security.
4. **Periodic Off-Chain Reporting**: Because not everyone wants to read smart contracts, Intersect also produces regular off-chain reporting and updates. This ensures that vital information regarding project progress and fund usage is accessible and easy for all users to navigate.

***

## Reporting resources

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<figure><img src="/files/aKYP0IuJy36CigPx8xFR" alt=""><figcaption></figcaption></figure>
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## Project Progress

Dive into Vendor contracts including their, milestones, delivery dates and payment schedules

<a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619?projectState=Active" class="button primary">Visit Project Pages</a>
{% endcolumn %}
{% endcolumns %}

***

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<figure><img src="/files/xOXLmQqhGFPmjTkM4KBp" alt=""><figcaption></figcaption></figure>
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## Intersect Administered Contracts&#x20;

Take a look at the contracts we administered in 2025

<a href="/pages/Kmcv0u67M6Xeca9znWaw" class="button primary">View 2025 Contracts</a>&#x20;
{% endcolumn %}
{% endcolumns %}

***

{% columns %}
{% column width="41.66666666666667%" valign="middle" %}

<figure><img src="/files/BPbgCaLoMqDi0LfRlXFG" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" %}

## View On‑Chain Treasury Activity

Explore all on‑chain activity across Intersect's administered smart contracts

<a href="https://cardanotreasury.fi/" class="button primary">Visit Project Pages</a>
{% endcolumn %}
{% endcolumns %}

***

{% columns %}
{% column width="41.66666666666667%" valign="middle" %}

<figure><img src="/files/IpGK5Z5ARME8yXpEAVXA" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" %}

## See Latest Reports&#x20;

Access transparent reports that highlight project progress, funding insights, and ecosystem impact.

<a href="/pages/FXRQwwXIO7kyeYhCrlXF" class="button primary">View Reports</a>&#x20;
{% endcolumn %}
{% endcolumns %}


# Smart Contract Infrastructure Service

## Overview of the Service

As an administrator in Cardano's ecosystem, Intersect helps turn community-approved projects into reality by handling the complex behind-the-scenes work. Our Smart Contract Infrastructure Service manages the coding, escrow systems, and automated milestone payments required to track delivery securely. The service operates by perfectly mirroring a legally binding Traditional Contract with an automated Smart Contract.

## What value does this provide to Cardano Community

Unparalleled Transparency and Observability: Every vendor project is partitioned into granular, on-chain milestones. As vendors complete their work, they submit evidence that is linked directly to the on-chain milestone via a public Smart Contract UI dashboard, allowing the Cardano community to easily monitor progress and verify deliverables.

Constitutional Compliance and Security: In strict alignment with the Cardano Constitution, all approved ADA is moved into dedicated, auditable Treasury Reserve Contracts. This process "ring-fences" the funds, ensuring they cannot be staked or delegated while waiting to be disbursed to the final recipient.

Reliable, Automated Payments: The infrastructure guarantees reliable payments for vendors based on specific time-based triggers or milestones. As a powerful safeguard, the framework is designed to "fail-open," meaning vendor payments are never automatically blocked by administrative delays, providing security and trust for those building on Cardano.

Independent Checks and Balances: To protect treasury funds, the smart contracts use multi-signature controls. Actions are initiated by Intersect but are subject to review by an independent Oversight Committee (OC), which ensures funds are managed correctly and prevents unilateral changes. Additionally, Third-Party Assurers (TPAs) are utilized to attest to the quality of the work performed, building maximum trust for the community.

## How do we provide this service?

We provide this end-to-end infrastructure through clear operational processes, secure multi-signature controls, and dedicated tooling:

1. Treasury Partitioning & Contract Creation: Following community approval, ADA is withdrawn and allocated into specifically themed Treasury Reserve Contracts. Once a vendor signs their traditional legal contract, the Delivery Assurance team creates a back-to-back Vendor Contract on-chain, mapping out the specific budget and payment schedule.
2. Administration Tooling: Vendors are given access to a Smart Contract Administration Dashboard. Through this interface, they can sign contract changes, attach Milestone Acceptance Forms (MAFs) as metadata to prove their delivery, and directly withdraw their milestone payments on-chain.
3. Secure Multi-Signature Operations: The smart contracts operate with a strictly limited set of permissions (such as Fund, Disburse, Modify, Pause, and Resume), initiated by Intersect following an internal control process, to provide essential data assurance before execution.
4. Delivery Verification & Payment Unlocks: The Delivery Assurance team acts as the primary guide for vendors throughout this lifecycle. Once milestone evidence is reviewed, accepted, and the review period has passed, the smart contract automatically unlocks the payment, allowing the vendor to claim their funds directly and creating an immutable, auditable record on the Cardano blockchain.


# Legal & Regulatory Ops Service

## Overview of the Service

Intersect provides the essential legal foundation needed to safely manage and disburse Cardano treasury funds. We ensure that every community-approved project is backed by a secure, legally binding agreement that protects both the vendor and the Cardano ecosystem.

As an administrator in Cardano's Budget process, Intersect handles the critical behind-the-scenes legal work required to turn approved proposals into reality. Our Procurement and Legal teams manage the end-to-end creation of traditional legal contracts, conduct professional KYC (Know Your Customer) and KYB (Know Your Business) due diligence, and maintain secure audit trails.

We facilitate these agreements where Intersect is selected as an Administrator on behalf of Cardano Development Holdings (CDH). CDH is a legal entity specifically created to support the Cardano ecosystem by acting as the contracting counterparty for approved proposals.

## What value does this provide to Cardano Community

* Legal Protection & Clarity: By establishing a traditional Contract, the service creates a legally binding written agreement between parties that clearly defines the project's scope, deliverables, timelines, and terms. This ensures that the vendor's legal obligations perfectly mirror the original DRep-approved governance action.
* Constitutional Compliance: The service guarantees that the funding process meets constitutional requirements, which mandates that a formal contract must be in place between the vendor and the administrator before any delivery begins or treasury funds can be released.
* Security and Trust: Through professional KYC and KYB checks via SumSub, the community can trust that funds are being distributed to verified individuals and businesses.
* Arbitration and Obligation Management: Our team is equipped to provide essential arbitration services, ensuring that all legal and regulatory obligations are met securely throughout the project's lifecycle.

## How do we provide this service?

We provide this service through a clear, step-by-step procurement process designed to establish a solid legal framework before any work begins:

1. Due Diligence: Once DReps approve a proposal, Intersect's Procurement team initiates professional KYC and KYB checks to verify the vendor's credentials.
2. Contract Drafting and Review: We work with the vendor to draft a traditional legal contract. Vendors are invited to review the draft and make any necessary final amendments to ensure the contract accurately reflects their proposal before it is finalized.
3. Contract Signing: The finalized contract must be signed by all parties to establish the legal framework.
4. Handover for Delivery: Once Procurement has completed all legal checks and secured the signed legal contract from both the vendor and Intersect, they hand the contract over to the Delivery Assurance team. The Delivery Assurance team then creates the perfectly mirrored on-chain Smart Contract and manages the contract.

### Governance Action Metadata Template

{% hint style="warning" %}
Please note: Approval for Intersect to act as your Administrator must be sought from the Intersect Executive Director prior to the submission of any on-chain governance action.
{% endhint %}

If you are raising your own Cardano treasury withdrawal governance action and wish to use Intersect as your administrator, you must use Intersect-approved wording and contract addresses within your governance action metadata.&#x20;

This ensures your action is constitutionally compliant, correctly references the active treasury reserve smart contract, and allows Intersect to administer the funds on your behalf. Using incorrect wording or addresses risks voiding your governance action or directing funds outside of Intersect’s administration oversight.&#x20;

The approved boilerplate wording, contract addresses, and guidance for each budget cycle are maintained in the Intersect Treasury Withdrawal Governance Action Boilerplate document, which should be consulted and confirmed with Intersect before any submission.&#x20;

Access the template here: [Intersect Treasury Withdrawal Governance Action Boilerplate](https://docs.google.com/document/d/1Uq4s-10lOjfyOcWPGvcedkFM2deKdnMCptZSI94splA/edit?tab=t.0#heading=h.h1vuqbih56a1).

{% hint style="warning" %}
Please note: Approval for Intersect to act as your Administrator must be sought from the Intersect Executive Director prior to the submission of any on-chain governance action.
{% endhint %}

<table data-card-size="large" data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4>Procurement</h4></td><td>You can read more about this service offering here.</td><td><a href="/pages/IvhWvGENLNhYj1bR4cyD">/pages/IvhWvGENLNhYj1bR4cyD</a></td><td data-object-fit="fill"><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr></tbody></table>


# Vendor Support Service

## Overview of the Service

Once a proposal is approved and the traditional legal contract is signed, Intersect’s Delivery Assurance (DA) team steps in to manage the active delivery of the project. The DA team serves as the vendor's primary point of contact throughout the entire lifecycle of the contract.&#x20;

Our Vendor Support Service is designed to maintain ongoing engagement with vendors. Rather than just evaluating the final output, the DA team actively helps vendors navigate the milestone submission framework, clarifies acceptance requirements, and addresses any issues or necessary contract modifications early on. From the initial onboarding call to the final offboarding review, the DA team ensures a smooth operational journey.

## What value does this provide to Cardano Community

* Ensuring Proposal Alignment: The DA team works diligently to ensure total alignment between the traditional legal contract, the on-chain smart contract, and the actual work being delivered by the vendor. This guarantees the community receives exactly what was outlined in the original proposal.
* Clear Guidance and Issue Resolution: By providing a dedicated point of contact, vendors are never left in the dark. If evidence is insufficient or a milestone delivery date is missed, the DA team proactively works with the vendor on rectification actions.
* Quality Assurance: The DA team facilitates the review process, ensuring that Milestone Acceptance Forms (MAFs) are completed to the required standard and a Third-Party Assurer (TPAs) review has been completed, to build maximum trust in the quality of the deliverables.
* Structured Escalation and Support: Should any concerns arise during delivery, Intersect supports clear, predefined escalation paths and communication channels, ensuring all issues are handled professionally and promptly.

## How do we provide this service?

We provide comprehensive vendor support through structured communication, dedicated guidance, and active contract management:

1. Onboarding & Familiarization: At the start of the project, the DA team establishes a direct communication channel (via Slack, Discord, or email). They conduct an onboarding call with the vendor to thoroughly discuss milestones, acceptance criteria, the role of third-party assurance, and how the smart contract payment process works.
2. Smart Contract Setup: The DA team handles the technical administration by submitting the on-chain actions to fund the vendor's specific smart contract, securely mapping out the agreed payment schedule.
3. Milestone Tracking & Review: As vendors complete their work, they submit their evidence (MAFs) to the DA team for review. The team provides actionable feedback to ensure the evidence meets all standards before it is finalized, uploaded to the smart contract dashboard as metadata, and the payment is unlocked.
4. Lifecycle Management & Offboarding: Throughout the project, the DA team supports vendors with any necessary contract modifications (such as updating milestone dates) and manages the pausing or resuming of milestones if required. Once the final milestone is reached, the team conducts a final review and due diligence check to officially close out the contract.

***

## Cardano Development Holdings

Cardano Development Holdings (CDH) is a legal entity created to support the Cardano ecosystem by acting as the contracting counterparty for approved proposals.

As a matter of policy, Intersect does not directly hold funds beyond its own operational budget. Instead, it utilises a foundation structure to manage community-related funds, ensuring they are used in alignment with community needs and goals.

In accordance with the Cardano Constitution, treasury withdrawal funds must be held in a separate account until they are disbursed to the final recipient. CDH is responsible for facilitating this process in line with constitutional requirements.


# Treasury 2026 Stablecoin Waiver

**Effective Date:** 08/06/2026 \
**Last Updated:** 08/06/2026

***

**1. PURPOSE AND ADMINISTRATION**&#x20;

**1.1** This Appendix C sets out the stablecoins approved by the Administrator from time to time for the purposes of a Stablecoin Election under clause 7.15 of the Agreement (the "Approved Stablecoins"). This Appendix C forms part of the Agreement and is subject to its terms.&#x20;

**1.2** The Administrator may, at its sole and absolute discretion, add to, amend, or remove any Approved Stablecoin from this Appendix C at any time by providing not less than 10 Business Days' prior written notice to the Supplier in accordance with clause 25.7 of the Agreement. Any updated version of this Appendix C published by the Administrator shall supersede the previous version with effect from the date specified in the Administrator's notice, without requiring a formal variation of the Agreement under clause 25.6. For the avoidance of doubt, any amendment to this Appendix C shall have no effect on Stablecoin Elections already incorporated into executed Statements of Work or deployed Smart Contracts; once a Smart Contract has been created and deployed on-chain, its digital asset makeup is fixed and will not be changed.

**1.3** The Administrator is under no obligation to maintain any particular stablecoin as an Approved Stablecoin. The removal of any stablecoin from this Appendix C shall not give rise to any right or remedy for the Supplier under the Agreement.&#x20;

**1.4** The most current version of this Appendix C shall be published by the Administrator on its publicly accessible governance platform. In the event of any conflict between the version attached to the signed Agreement and the current version published by the Administrator, the current published version (as amended on not less than 10 Business Days' notice) shall prevail.&#x20;

**2. APPROVED STABLECOINS**

**2.1** The following stablecoins are approved as at the Effective Date of this Appendix C: &#x20;

(a) USDCx and&#x20;

(b) USDM&#x20;

**2.2** The Administrator may designate additional stablecoins as Approved Stablecoins, or amend the details set out in the table at paragraph 2.1 above (including, without limitation, the supported network, on-chain identifier, or issuer details), in accordance with paragraph 1.2 above.&#x20;

**2.3** Where an on-chain identifier is listed as "to be confirmed," the Administrator shall notify the Supplier of the confirmed identifier in writing prior to processing any Stablecoin Election in respect of the relevant stablecoin. No Stablecoin Election shall be accepted in respect of any stablecoin whose on-chain identifier has not been confirmed in writing by the Administrator.&#x20;

**3. TECHNICAL REQUIREMENTS FOR A STABLECOIN ELECTION**&#x20;

**3.1** To make a valid Stablecoin Election in respect of any Approved Stablecoin, the Supplier must:&#x20;

(a) confirm in writing the Approved Stablecoin elected and the Cardano Mainnet wallet address to which payment is to be made;&#x20;

(b) demonstrate to the Administrator's satisfaction that it has active control of and access to the wallet to which Stablecoin payments are to be made, by providing the Cardano Mainnet wallet address for that wallet and successfully completing the Verification Transaction process described in this paragraph. The wallet address is provided solely to enable the Administrator to dispatch the Verification Transaction and, upon successful completion, to direct Stablecoin payments; the provision of a wallet address alone shall not constitute compliance with this paragraph. Prior to confirming any Stablecoin Election, the Administrator will carry out a nominal test transaction (a "Verification Transaction") to the wallet address specified by the Supplier, the purpose of which is to verify that the Supplier demonstrably controls and can access the wallet and that it is capable of receiving the elected Approved Stablecoin. The Supplier must confirm receipt of the Verification Transaction in writing to the Administrator within 2 Business Days of the Administrator notifying the Supplier that it has been dispatched. The Administrator shall have no obligation to process any Stablecoin Election, or to fund any Statement of Work-specific Smart Contract with Approved Stablecoins, until the Supplier has confirmed receipt of the Verification Transaction. The Administrator shall have no liability to the Supplier in respect of any Verification Transaction that is not received by the Supplier as a result of an error in the wallet address provided by the Supplier;

(c) have successfully completed the KYC/KYB verification process under clause 7.4 of the Agreement in respect of the wallet address to which payment is to be made, prior to the Administrator confirming the Stablecoin Election in writing; and&#x20;

(d) comply with any additional technical or operational requirements notified by the Administrator in writing from time to time in connection with the specific Approved Stablecoin elected.&#x20;

**3.2** By executing a Statement of Work in which a Stablecoin Election is made, the Supplier irrevocably commits to receiving payment in the elected Approved Stablecoin for the full duration of that Statement of Work.

**3.3** The Administrator accepts no responsibility whatsoever for:&#x20;

(a) any payment made to a wallet address that is not compatible with the Approved Stablecoin or network specified in the Supplier's Stablecoin Election;&#x20;

(b) any loss of funds arising from an error in the wallet address provided by the Supplier;&#x20;

(c) any failure or delay in processing a Stablecoin Election arising from the Supplier's failure to satisfy the requirements in paragraph 3.1 above; or&#x20;

(d) any technical failure, network outage, or protocol issue affecting the relevant Approved Stablecoin or the Cardano network.&#x20;

**3.4** The Supplier is solely responsible for ensuring that the wallet address it provides is accurate, operational, and capable of receiving the Approved Stablecoin elected. Once a payment has been initiated to a wallet address confirmed by the Supplier, it shall be deemed a valid payment under the Agreement and the Administrator shall have no liability in respect of it.&#x20;

**4. CONVERSION AND EXCHANGE RATE - THIRD PARTY EXECUTION AND SUPPLIER WAIVER**

**4.1** Where a Supplier has made a valid Stablecoin Election, the Administrator will engage a third-party exchange or liquidity provider to effect the conversion of ada to the elected Approved Stablecoin on behalf of the Administrator. The Administrator will endeavour to procure that the third-party provider achieves the prevailing market rate at the time of trading, but the Administrator gives no warranty, representation, or guarantee as to the conversion rate achieved or the volume of Approved Stablecoin received as a result of the conversion.

**4.2** The Supplier acknowledges and agrees that the Administrator will not effect a separate or individual conversion of ada to Approved Stablecoin in respect of each Supplier's Stablecoin Election. Instead, the Administrator will aggregate the total ada amount to be converted across all Suppliers that have made valid Stablecoin Elections under Agreements administered by the Administrator at the relevant time, and will execute one or more batch exchanges with the third-party exchange or liquidity provider in order to satisfy the aggregate stablecoin requirements across all such Suppliers. The Supplier acknowledges that, as a consequence of this batch approach:&#x20;

(a) the conversion in respect of the Supplier's Milestone payments may be executed as part of a larger aggregate transaction and not as a standalone trade;&#x20;

(b) the conversion rate achieved will be the rate applicable to the batch transaction as a whole and will not be negotiated or optimized by reference to the Supplier's individual Milestone payment; and&#x20;

(c) the timing of conversion will be determined by the Administrator by reference to CDH’s overall treasury management obligations and not solely by reference to any individual Milestone payment date. None of the foregoing shall affect the Administrator's obligation to credit the Supplier's designated wallet address with the Approved Stablecoin amount resulting from the Supplier's pro-rata share of the batch conversion.

**4.3** By making a Stablecoin Election, the Supplier unconditionally and irrevocably waives any and all claims, rights, or remedies it may have against the Administrator and the Customer arising from or in connection with:&#x20;

(a) the conversion rate applied by the third-party exchange provider;&#x20;

(b) any spread, slippage, price movement, market impact, liquidity constraints, or network fees arising in connection with the conversion;&#x20;

(c) the volume of Approved Stablecoin received as a result of the conversion; or&#x20;

(d) any difference between the ada value of the Statement of Work and the fiat or stablecoin equivalent received. Such risk is borne by the Supplier. The Supplier acknowledges that it is making the Stablecoin Election with full knowledge and acceptance of these risks.

**4.4** All currency conversion risk arising from fluctuations in the exchange rate between ada and any Approved Stablecoin shall be borne entirely and exclusively by the Supplier, in accordance with the waiver at paragraph 4.3 above and clause 7.15(d) of the Agreement. The Administrator and the Customer shall have no liability whatsoever to the Supplier in respect of any conversion rate applied by the third-party exchange provider, or any movement in the value of any Approved Stablecoin relative to ada or any fiat currency, whether before, on, or after the date of any Milestone payment. The Supplier's sole recourse in respect of any failure by the Administrator to engage a third-party provider and effect conversion in accordance with this Agreement shall be governed by clause 10.2(f) of the Agreement.

**4.5** The conversion rate applied shall be the rate executed by the third-party exchange or liquidity provider engaged by the Administrator at the time of trading. The Administrator has no ability to determine, influence, fix, or guarantee the conversion rate applied; that rate is entirely outside the Administrator's control and is determined solely by the third-party exchange or liquidity provider at the time of execution. The Administrator shall provide the Supplier with written confirmation of the conversion executed (including the ada amount converted, the Approved Stablecoin received, and the identity of the third-party provider) upon agreeing the Statement of Work.

**5. VERSION HISTORY**&#x20;

**5.2** The Administrator shall update the version history table each time it amends this Appendix C and shall provide a copy of the updated Appendix C to the Supplier simultaneously with the notice required under paragraph 1.2.


# Software MSA Guide for 2026 Vendors

#### Software Master Services Agreement Guide to the 2026 Updates - for Vendors&#x20;

Issued by Intersect, Administrator of the Cardano treasury vendor contracting process.

We have refreshed the Software Master Services Agreement (the "MSA") that governs  treasury-funded work for the Cardano ecosystem. The 2026 version is a significant update on the 2025 agreement: it adds clearer payment options, a more complete intellectual  property framework, and a number of operational and compliance provisions that did not  appear before.&#x20;

This guide is a plain-English summary of the changes that matter most to vendors,  together with the practical steps you may need to take. It is a summary only: the MSA  itself is the binding document, and where this guide and the MSA differ, the MSA  prevails. The agreement remains governed by the law of England and Wales, and the  three-party structure is unchanged — Cardano Development Holdings (the Customer),  Intersect (the Administrator) and you (the Supplier).&#x20;

&#x20;**At a glance - the headline changes:**

<table><thead><tr><th width="214">AREA</th><th>WHAT'S NEW IN 2026</th></tr></thead><tbody><tr><td><strong>How you are paid</strong> </td><td>You may choose to receive payments in ada or in an approved stablecoin (USDCx or USDM). If you select a stablecoin, an additional 1% fee will be applied on top of the standard administration fee.</td></tr><tr><td><strong>Getting milestones signed off</strong> </td><td>Each Statement of Work must include clear, objective acceptance criteria. The Supplier will have a 30‑business‑day review window for each submitted milestone. If no acceptance or rejection is issued within this period, the milestone will be deemed accepted.</td></tr><tr><td><strong>Intellectual property</strong> </td><td>Each Statement of Work must specify the ownership of all Intellectual Property created under the engagement. Suppliers must also declare any (Background) IP and any third‑party tools, licences, or dependencies upfront.</td></tr><tr><td><strong>New things you must have</strong></td><td>Suppliers must maintain appropriate insurance coverage, have an up‑to‑date Business Continuity Plan, provide a named delivery contact, and hold a Modern Slavery Policy.</td></tr><tr><td><strong>Continuity protections</strong> </td><td>New step‑in rights, exit and transition obligations, escrow arrangements, and audit provisions have been introduced to protect Community‑funded work and ensure continuity and accountability in the event of non‑performance or supplier withdrawal.</td></tr><tr><td><strong>Flexibility</strong> </td><td>New rights have been introduced to allow termination for convenience and to address changes in applicable law. A mandatory mediation stage must take place before any court action is initiated.</td></tr></tbody></table>

**1.  How you get paid**&#x20;

This is the biggest change for vendors.&#x20;

* **Stablecoin Option:** you can now choose to receive milestone payments in ada or in an approved stablecoin (currently USDCx or USDM). You make this choice when the Statement of Work (SoW) is signed, and it applies to the whole SoW. Once the smart contract is deployed it cannot be changed.&#x20;
* **Fees:** a 3% administration fee is deducted from each SoW before the smart contract is funded. If you choose a stablecoin, a further 1% management fee applies. Both are calculated on the gross SoW value, and the amounts you see funded on-chain are net of these deductions. You will be given a written breakdown.&#x20;
* **Conversion Risk:** if you choose a stablecoin, you bear the currency conversion and exchange-rate risk. Conversions are done by a third party and in batches across vendors, so the rate is the batch rate, not an individually negotiated one.&#x20;
* **Reference Rate:** all fees are still denominated in ada; where a SoW cost is set by reference to a fiat amount, the ada equivalent is fixed at the Reference Rate on the date the SoW is signed.&#x20;
* **Verification:** to be paid in stablecoin you must complete KYC/KYB onboarding and a small wallet "Verification Transaction" to confirm you control the receiving wallet before the election is processed.

**What you need to do**&#x20;

* Decide ada or stablecoin at SoW stage - it is fixed for the life of that SoW.
  * Factor the 3% (and 1% if applicable) into your proposal budgeting; remember "Fees" means  the net amount after deductions.
* If choosing stablecoin, complete KYC/KYB and the wallet verification early so payment is not  delayed.&#x20;

&#x20;**2.  Milestones, acceptance and timing**&#x20;

* Objective criteria: each SoW will now set out objective acceptance criteria for milestones and deliverables, so it is clear what "done" looks like.&#x20;
* 30-day deemed acceptance: the Administrator will review a complete milestone submission within 30 business days. If it does not issue a rejection notice (identifying the specific criteria not met) within that window, the milestone is deemed accepted. This gives you greater certainty on timing.&#x20;
* Acceptance testing: where a SoW requires acceptance testing, there is a defined test-and-remedy cycle. Repeated failure against the same criteria (two or more times), or failing two or more milestones, can lead to termination.&#x20;

&#x20;**3. Intellectual property**&#x20;

The IP framework is more structured than in 2025.&#x20;

* Ownership is chosen per SoW: each SoW chooses Scenario A (Customer owns the resulting IP) or Scenario B (you keep ownership and grant a broad licence). If a SoW  is silent, Scenario B (Supplier ownership) applies by default.&#x20;
* Schedule your Background IP: if you intend to use your own pre-existing IP, you  must identify it in a Background IP schedule in the SoW. Anything you do not schedule may be treated as work product. List your dependencies carefully and up front.&#x20;
* Third-party dependencies: all material third-party and open-source dependencies must be disclosed, with their licences, and you warrant they are compatible with the intended use.&#x20;
* Open-source overlay: where a deliverable is open-source or contributed to an open source repository, the open-source licence (named in the SoW) applies on top, and some repositories may be designated as protected with extra controls.&#x20;

**What you need to do**

* Check which ownership scenario each SoW specifies before you sign.&#x20;
* List every piece of your own Background IP and every third-party / open-source dependency in  the SoW.
* Flag any open-source licence incompatibility before you start contributing. &#x20;

**4. New things you are expected to have in place**&#x20;

<table><thead><tr><th width="216.66668701171875">REQUIREMENT</th><th>WHAT IT MEANS</th></tr></thead><tbody><tr><td><strong>Insurance</strong> </td><td>Maintain professional indemnity, public/general liability and cyber/data cover proportionate to the work, for up to six years after the engagement; provide certificates on request.</td></tr><tr><td><strong>Business continuity plan</strong></td><td>Keep a BCP covering loss of key people, systems and supply chain; test it at least annually; share it on request.</td></tr><tr><td><strong>Named delivery contact</strong> </td><td>Name a Key Personnel delivery contact in each SoW and give notice before replacing them.</td></tr><tr><td><strong>Modern slavery</strong> </td><td>Maintain a modern slavery / anti-trafficking policy and take reasonable steps across your supply chain.</td></tr><tr><td><strong>Data protection</strong> </td><td>Where personal data is involved: get approval for sub-processors, sign the relevant DPA/BAA, and  meet breach-notification timelines (72 hours for GDPR; 60 days for HIPAA).</td></tr><tr><td><strong>Subcontractors</strong> </td><td>Get the Administrator’s prior approval before  using a "Key Subcontractor", and flow down equivalent obligations.</td></tr><tr><td><strong>Security</strong> </td><td>Notify any security incident within 24 hours.</td></tr></tbody></table>

&#x20;**5. Continuity and oversight provisions (new)**&#x20;

* Step-in rights: the Administrator or Customer may step in to continue the services if you default, become insolvent, or there is an urgent risk to the ecosystem.&#x20;
* Exit and transition: you will be expected to keep an exit/transition plan and hand  over source code, keys and documentation so the work can continue if the  engagement ends.&#x20;
* Escrow: on request, source code for software you retain rights in may need to be  placed in escrow, releasable on insolvency or unremedied breach.&#x20;
* Audit: the Administrator may audit your compliance with key obligations, normally  no more than once a year.&#x20;
* AI tools: the Administrator may use AI tools to help review submissions; this does  not change your dispute rights.&#x20;

&#x20;**6. Termination, flexibility and the Administrator’s role**&#x20;

* Termination for convenience: the Customer or Administrator can now terminate  for convenience on 90 days’ notice, paying for work done up to that point. Your own right to terminate for convenience on 60 days’ notice is unchanged.&#x20;
* Change of control: you must notify a change of control within 5 business days; the  Administrator may then terminate within 30 days.&#x20;
* Regulatory change: if a change in law makes performance unlawful or impossible,  there is a good-faith renegotiation and, failing that, termination route.
* Mediation first: disputes now go through escalation and a non-binding mediation  step before any court proceedings.&#x20;
* Administrator’s role clarified: the Administrator acts solely as facilitator for the  Customer. Helpfully for vendors, you now have limited recourse against the  Administrator for its own gross negligence, fraud or wrongful failure to pay —  something the 2025 version did not provide.&#x20;

&#x20;**Vendor action checklist**&#x20;

* [ ] &#x20;Decide ada vs stablecoin for each SoW (fixed once signed).&#x20;
* [ ] Complete KYC/KYB and wallet verification early if choosing stablecoin.&#x20;
* [ ] Budget for the 3% admin fee (and 1% stablecoin fee if applicable).&#x20;
* [ ] Confirm the IP ownership scenario in each SoW before signing.&#x20;
* [ ] List all Background IP and third-party / open-source dependencies in the SoW.&#x20;
* [ ] Put in place insurance, a tested BCP, and a modern slavery policy.&#x20;
* [ ] Name your delivery contact in each SoW.&#x20;
* [ ] Seek approval before using Key Subcontractors; flow down obligations.&#x20;
* [ ] Be ready to support exit/transition (code, keys, documentation).&#x20;
* [ ] Note the 30-business-day deemed-acceptance window in your planning.&#x20;

#### Questions?&#x20;

If anything in this guide is unclear or you would like to discuss how a change  affects a current or proposed engagement, please contact the Intersect administration  team before signing your next Statement of Work.&#x20;

This guide is provided for information only and is not legal advice. It summarizes selected changes and is not a substitute for reading the Software Master Services Agreement, which is the binding document. June 2026.

**View Sample Software MSA Document**

{% file src="/files/xQjpwULpNAjiVepFoe1R" %}

**View Sample Statement of Work (SoW) Document**


# General MSA Guide for 2026 Vendors

#### General Master Services Agreement Guide to the 2026 Updates - for Vendors&#x20;

Issued by Intersect, Administrator of the Cardano treasury vendor contracting process.

We have refreshed the General Master Services Agreement (the "MSA") that governs  treasury-funded work for the Cardano ecosystem. The 2026 version is a significant update on the 2025 agreement: it adds clearer payment options, a more complete intellectual  property framework, and a number of operational and compliance provisions that did not  appear before.&#x20;

This guide is a plain-English summary of the changes that matter most to vendors,  together with the practical steps you may need to take. It is a summary only: the MSA  itself is the binding document, and where this guide and the MSA differ, the MSA  prevails. The agreement remains governed by the law of England and Wales, and the  three-party structure is unchanged — Cardano Development Holdings (the Customer),  Intersect (the Administrator) and you (the Supplier).&#x20;

&#x20;**At a glance - the headline changes:**

<table><thead><tr><th width="214">AREA</th><th>WHAT'S NEW IN 2026</th></tr></thead><tbody><tr><td><strong>How you are paid</strong> </td><td>You may choose to receive payments in ada or in an approved stablecoin (USDCx or USDM). If you select a stablecoin, an additional 1% fee will be applied on top of the standard administration fee.</td></tr><tr><td><strong>Getting milestones signed off</strong> </td><td>Each Statement of Work must include clear, objective acceptance criteria. The Supplier will have a 30‑business‑day review window for each submitted milestone. If no acceptance or rejection is issued within this period, the milestone will be deemed accepted.</td></tr><tr><td><strong>Intellectual property</strong> </td><td>Each Statement of Work must specify the ownership of all Intellectual Property created under the engagement. Suppliers must also declare any (Background) IP and any third‑party tools, licences, or dependencies upfront.</td></tr><tr><td><strong>New things you must have</strong></td><td>Suppliers must maintain appropriate insurance coverage, have an up‑to‑date Business Continuity Plan, provide a named delivery contact, and hold a Modern Slavery Policy.</td></tr><tr><td><strong>Continuity protections</strong> </td><td>New step‑in rights, exit and transition obligations, escrow arrangements, and audit provisions have been introduced to protect Community‑funded work and ensure continuity and accountability in the event of non‑performance or supplier withdrawal.</td></tr><tr><td><strong>Flexibility</strong> </td><td>New rights have been introduced to allow termination for convenience and to address changes in applicable law. A mandatory mediation stage must take place before any court action is initiated.</td></tr></tbody></table>

**1.  How you get paid**&#x20;

This is the biggest change for vendors.&#x20;

* **Stablecoin Option:** you can now choose to receive milestone payments in ada or in an approved stablecoin (currently USDCx or USDM). You make this choice when the Statement of Work (SoW) is signed, and it applies to the whole SoW. Once the smart contract is deployed it cannot be changed.&#x20;
* **Fees:** a 3% administration fee is deducted from each SoW before the smart contract is funded. If you choose a stablecoin, a further 1% management fee applies. Both are calculated on the gross SoW value, and the amounts you see funded on-chain are net of these deductions. You will be given a written breakdown.&#x20;
* **Conversion Risk:** if you choose a stablecoin, you bear the currency conversion and exchange-rate risk. Conversions are done by a third party and in batches across vendors, so the rate is the batch rate, not an individually negotiated one.&#x20;
* **Reference Rate:** all fees are still denominated in ada; where a SoW cost is set by reference to a fiat amount, the ada equivalent is fixed at the Reference Rate on the date the SoW is signed.&#x20;
* **Verification:** to be paid in stablecoin you must complete KYC/KYB onboarding and a small wallet "Verification Transaction" to confirm you control the receiving wallet before the election is processed.

**What you need to do**&#x20;

* Decide ada or stablecoin at SoW stage - it is fixed for the life of that SoW.
  * Factor the 3% (and 1% if applicable) into your proposal budgeting; remember "Fees" means  the net amount after deductions.
* If choosing stablecoin, complete KYC/KYB and the wallet verification early so payment is not  delayed.&#x20;

&#x20;**2.  Milestones, acceptance and timing**&#x20;

* Objective criteria: each SoW will now set out objective acceptance criteria for milestones and deliverables, so it is clear what "done" looks like.&#x20;
* 30-day deemed acceptance: the Administrator will review a complete milestone submission within 30 business days. If it does not issue a rejection notice (identifying the specific criteria not met) within that window, the milestone is deemed accepted. This gives you greater certainty on timing.&#x20;
* Acceptance testing: where a SoW requires acceptance testing, there is a defined test-and-remedy cycle. Repeated failure against the same criteria (two or more times), or failing two or more milestones, can lead to termination.&#x20;

&#x20;**3. Intellectual property**&#x20;

The IP framework is more structured than in 2025.&#x20;

* Ownership is chosen per SoW: each SoW chooses Scenario A (Customer owns the resulting IP) or Scenario B (you keep ownership and grant a broad licence). If a SoW  is silent, Scenario B (Supplier ownership) applies by default.&#x20;
* Schedule your Background IP: if you intend to use your own pre-existing IP, you  must identify it in a Background IP schedule in the SoW. Anything you do not schedule may be treated as work product. List your dependencies carefully and up front.&#x20;
* Third-party dependencies: all material third-party and open-source dependencies must be disclosed, with their licences, and you warrant they are compatible with the intended use.&#x20;
* Open-source overlay: where a deliverable is open-source or contributed to an open source repository, the open-source licence (named in the SoW) applies on top, and some repositories may be designated as protected with extra controls.&#x20;

**What you need to do**

* Check which ownership scenario each SoW specifies before you sign.&#x20;
* List every piece of your own Background IP and every third-party / open-source dependency in  the SoW.
* Flag any open-source licence incompatibility before you start contributing. &#x20;

**4. New things you are expected to have in place**&#x20;

<table><thead><tr><th width="216.66668701171875">REQUIREMENT</th><th>WHAT IT MEANS</th></tr></thead><tbody><tr><td><strong>Insurance</strong> </td><td>Maintain professional indemnity, public/general liability and cyber/data cover proportionate to the work, for up to six years after the engagement; provide certificates on request.</td></tr><tr><td><strong>Business continuity plan</strong></td><td>Keep a BCP covering loss of key people, systems and supply chain; test it at least annually; share it on request.</td></tr><tr><td><strong>Named delivery contact</strong> </td><td>Name a Key Personnel delivery contact in each SoW and give notice before replacing them.</td></tr><tr><td><strong>Modern slavery</strong> </td><td>Maintain a modern slavery / anti-trafficking policy and take reasonable steps across your supply chain.</td></tr><tr><td><strong>Data protection</strong> </td><td>Where personal data is involved: get approval for sub-processors, sign the relevant DPA/BAA, and  meet breach-notification timelines (72 hours for GDPR; 60 days for HIPAA).</td></tr><tr><td><strong>Subcontractors</strong> </td><td>Get the Administrator’s prior approval before  using a "Key Subcontractor", and flow down equivalent obligations.</td></tr><tr><td><strong>Security</strong> </td><td>Notify any security incident within 24 hours.</td></tr></tbody></table>

&#x20;**5. Continuity and oversight provisions (new)**&#x20;

* Step-in rights: the Administrator or Customer may step in to continue the services if you default, become insolvent, or there is an urgent risk to the ecosystem.&#x20;
* Exit and transition: you will be expected to keep an exit/transition plan and hand  over source code, keys and documentation so the work can continue if the  engagement ends.&#x20;
* Escrow: on request, source code for general you retain rights in may need to be  placed in escrow, releasable on insolvency or unremedied breach.&#x20;
* Audit: the Administrator may audit your compliance with key obligations, normally  no more than once a year.&#x20;
* AI tools: the Administrator may use AI tools to help review submissions; this does  not change your dispute rights.&#x20;

&#x20;**6. Termination, flexibility and the Administrator’s role**&#x20;

* Termination for convenience: the Customer or Administrator can now terminate  for convenience on 90 days’ notice, paying for work done up to that point. Your own right to terminate for convenience on 60 days’ notice is unchanged.&#x20;
* Change of control: you must notify a change of control within 5 business days; the  Administrator may then terminate within 30 days.&#x20;
* Regulatory change: if a change in law makes performance unlawful or impossible,  there is a good-faith renegotiation and, failing that, termination route.
* Mediation first: disputes now go through escalation and a non-binding mediation  step before any court proceedings.&#x20;
* Administrator’s role clarified: the Administrator acts solely as facilitator for the  Customer. Helpfully for vendors, you now have limited recourse against the  Administrator for its own gross negligence, fraud or wrongful failure to pay —  something the 2025 version did not provide.&#x20;

&#x20;**Vendor action checklist**&#x20;

* [ ] &#x20;Decide *ada vs stablecoin* for each SoW (fixed once signed).&#x20;
* [ ] Complete KYC/KYB and wallet verification early if choosing stablecoin.&#x20;
* [ ] Budget for the 3% admin fee (and 1% stablecoin fee if applicable).&#x20;
* [ ] Confirm the IP ownership scenario in each SoW before signing.&#x20;
* [ ] List all Background IP and third-party / open-source dependencies in the SoW.&#x20;
* [ ] Put in place insurance, a tested BCP, and a modern slavery policy.&#x20;
* [ ] Name your delivery contact in each SoW.&#x20;
* [ ] Seek approval before using Key Subcontractors; flow down obligations.&#x20;
* [ ] Be ready to support exit/transition (code, keys, documentation).&#x20;
* [ ] Note the 30-business-day deemed-acceptance window in your planning.&#x20;

**Questions?**&#x20;

If anything in this guide is unclear or you would like to discuss how a change  affects a current or proposed engagement, please contact the Intersect administration  team before signing your next Statement of Work.&#x20;

This guide is provided for information only and is not legal advice. It summarizes selected changes and is not a substitute for reading the General Master Services Agreement, which is the binding document. June 2026.

**View Sample General MSA Document**

{% file src="/files/aYfG990npwqcKVH8XqtM" %}


# Statement of Work (SoW) - IP Ownership Election (Scenario A)

**1. IP Ownership Election**

For the purposes of clause 8.2 of the Master Services Agreement, the Parties elect Scenario A (Customer Ownership Regime) under clause 8.3 as the applicable IP Ownership Election for this Statement of Work accordingly:

(a) all Foreground IP created under this Statement of Work shall vest in and be owned by the Customer (Cardano Development Holdings) automatically upon creation, and the Supplier assigns such Foreground IP to the Customer in accordance with clause 8.3(i);

(b) the Supplier shall, at the Customer’s request, execute such further documents and take such steps as are reasonably required to perfect, record or enforce that assignment in accordance with clause 8.3(ii); and

(c) the only Background IP licensed to the Customer under clause 8.3(iii) is the Background IP listed in the Background IP Schedule below. Any Background IP not so listed shall, in accordance with clause 8.2, be treated as Foreground IP and owned by the Customer.

**2. Background IP Schedule**

The following Background IP of the Supplier is identified and scheduled for the purposes of clause 8.2 of the Master Services Agreement. The Supplier grants the Customer a perpetual, irrevocable, worldwide, fully paid-up, non-exclusive, royalty-free licence to use, reproduce, modify, distribute and sub-licence the Background IP listed below to the extent incorporated in or necessary for the use of the Deliverables (clause 8.3(iii)).


# How-to Guides

## For Vendors & Community Members

<table data-view="cards"><thead><tr><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td>How to Manage Contract Changes</td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td><td><a href="/pages/9E02e0bGb9QeSxXdG52s">/pages/9E02e0bGb9QeSxXdG52s</a></td></tr><tr><td>How To Submit Milestones</td><td><a href="/files/JR39zwyDLKJO8IhyYw1w">/files/JR39zwyDLKJO8IhyYw1w</a></td><td><a href="/pages/u2ckMkfRUHnlIcQU1HcW">/pages/u2ckMkfRUHnlIcQU1HcW</a></td></tr><tr><td>How To Submit an Invoice</td><td><a href="/files/c5ltob4d0cllZgounLLL">/files/c5ltob4d0cllZgounLLL</a></td><td><a href="/pages/1kqTOxba2UXZrQfwIFxg">/pages/1kqTOxba2UXZrQfwIFxg</a></td></tr><tr><td>How The Oversight Committee Works</td><td><a href="/files/M7MB5o3eLEHTyxfxvIiX">/files/M7MB5o3eLEHTyxfxvIiX</a></td><td><a href="/pages/gx462K6GM3bLWKZQ6EeS">/pages/gx462K6GM3bLWKZQ6EeS</a></td></tr><tr><td>How The Oversight Committee Protects Vendors &#x26; Treasury Funds</td><td><a href="/files/mdQF6R6HqIatXtT0oVra">/files/mdQF6R6HqIatXtT0oVra</a></td><td><a href="/pages/08cBfhuc4f8zSm2tUNPa">/pages/08cBfhuc4f8zSm2tUNPa</a></td></tr></tbody></table>

## For Third Party Assurers (TPAs)

<table data-card-size="large" data-view="cards"><thead><tr><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td>TPA Responsibilities</td><td><a href="/files/adCSa8AoXCpMVrSp6aF1">/files/adCSa8AoXCpMVrSp6aF1</a></td><td><a href="/pages/jsHPlzbVpkV7hQzs3bDu">/pages/jsHPlzbVpkV7hQzs3bDu</a></td></tr><tr><td>How To Review Milestones</td><td><a href="/files/J0nkDYRTQHfljFdsnTcG">/files/J0nkDYRTQHfljFdsnTcG</a></td><td><a href="/pages/e5z4UUyID2SoCYOUq8Qi">/pages/e5z4UUyID2SoCYOUq8Qi</a></td></tr></tbody></table>


# Vendor Guides

Welcome to your Vendor Area! Here you will find all you need throughout the process of working with our Administration Services.

## Vendor Onboarding Summary

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIRp51uGU1I74w1Nk9JvV%2Fuploads%2FzySQcu978xhpLhibRMKD%2FIntersect_Vendor_Onboarding.mp4?alt=media&token=cca005b7-c4a2-41e1-be02-ec96af121a80>" %}

## Step-by-Step Vendor Process

Before you start delivering your project, there are a few important steps to complete. These steps help ensure you have everything you may need to know about agreeing a contract and delivering a proposal under Intersects administration. Each stage is designed to support transparency, accountability, and clear communication between you, your Third‑Party Assurer, the Delivery Assurance team, and the wider Cardano community.

<details>

<summary><img src="/files/9iZfhkcTcvVfFRSC1URI" alt="01">   <strong>Contracting and Onboarding</strong></summary>

The process begins with Intersect's Procurement team, who collaborates with you to complete the due diligence process and agree upon, finalize, and sign a traditional legal contract. Please ensure you have the required documentation ready. Once the contract is signed by all parties, you are handed over to the Delivery Assurance (DA) team.

The DA team becomes your main point of contact, setting up communication channels, scheduling an onboarding call to familiarize you with the delivery process, and creating your smart contract instance on-chain.

\ <a href="/pages/9E02e0bGb9QeSxXdG52s" class="button secondary">View More About Smart Contracts</a><a href="/pages/9pTyDf7sYAt8GlHqSt8b" class="button primary">Read More About Contracting</a><br>

</details>

<details>

<summary><img src="/files/qrAyfBPJFfTcvSn3es8K" alt="02" data-size="original"> <strong>Delivery and Milestone Management</strong>   </summary>

During the delivery phase, whenever you complete a milestone, you must submit milestone evidence using a Milestone Acceptance Form (MAF). The DA team will work with you to review your MAF's, and if the evidence is sufficient and the payment date is reached, the funds will be made available for you to withdraw directly from the smart contract.\
\ <a href="/pages/ftYELGrx6ViPvAEuMQ76" class="button secondary">Frequently Asked Questions</a><a href="/pages/YDnueBx0a1byp9z2ihWW" class="button primary">Read More About Delivery & Milestones</a>

</details>

<details>

<summary><img src="/files/PvgfHzAXbWvkdUMxd5fg" alt="03" data-size="original">  <strong>Smart Contract Actions &#x26; Contract Completion</strong></summary>

Throughout the duration of your contract, you will use the dashboard to interact with your smart contract. This enables you to record project progress immutably on-chain and withdraw funds upon completion of agreed milestones.

After your final milestone is completed, Intersect conducts a final review to ensure all deliverables match both the legal and smart contracts. During this offboarding phase, any unclaimed funds are swept back to the treasury, your access to Intersect systems will be closed, and communication channels are archived.&#x20;

Finally, you will receive a confirmation email marking the completion of the contract and be invited to provide feedback on your experience.\
\ <a href="/pages/9X2YHUZ55dwVDv1V7fyG" class="button secondary">How to Submit a Milestone</a><a href="/pages/NK4xI1zp3bSG4UtSonwD" class="button primary">Read More About Offboarding</a>

</details>

**Milestone Completion & Payment Flow**

This outlines how work, agreements, and payments are connected across the process. The legal contract defines what must be delivered and under what terms, while the smart contract enforces and executes actions on-chain based on progress. Together, they ensure that completed work is validated, transparent, and triggers the correct outcomes (such as payments) in a secure and automated way.

Vendor completes work → Legal Contract governs → Smart contract executes actions

***

<h2 align="center">How To Guides For Vendors </h2>

<table data-view="cards"><thead><tr><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h3>How To Write Milestones Within your SoW</h3></td><td><a href="/files/8AIWLRBYPZdtsst3cdqL">/files/8AIWLRBYPZdtsst3cdqL</a></td><td><a href="/pages/596MYY4VpjzGiw3Kljb6">/pages/596MYY4VpjzGiw3Kljb6</a></td></tr><tr><td><h3>How To Complete your MAF</h3></td><td><a href="/files/uZNSq8rAC2GhXhe6bGWu">/files/uZNSq8rAC2GhXhe6bGWu</a></td><td><a href="/pages/u2ckMkfRUHnlIcQU1HcW">/pages/u2ckMkfRUHnlIcQU1HcW</a></td></tr><tr><td><h3>How To Submit Milestones</h3></td><td><a href="/files/8AIWLRBYPZdtsst3cdqL">/files/8AIWLRBYPZdtsst3cdqL</a></td><td><a href="/pages/9X2YHUZ55dwVDv1V7fyG">/pages/9X2YHUZ55dwVDv1V7fyG</a></td></tr></tbody></table>

***

{% columns fullWidth="false" %}
{% column width="33.33333333333333%" valign="middle" %}

<div align="center"><figure><img src="/files/6L2eNME9DsAjiZIP5q3Z" alt="" width="375"><figcaption></figcaption></figure></div>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

## How to Manage Contract Changes

A short description on how to write smart contracts for vendors.\
\ <a href="/pages/9E02e0bGb9QeSxXdG52s" class="button primary">Read More </a>
{% endcolumn %}
{% endcolumns %}

***

{% columns %}
{% column width="33.33333333333333%" %}

<figure><img src="/files/VlPnN3gAqBUv8mzBKZro" alt="" width="375"><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

## How to Submit Your Milestones

A short description on how to submit Milestones Acceptance Forms for vendors.

<a href="/pages/u2ckMkfRUHnlIcQU1HcW" class="button primary">Read More</a>
{% endcolumn %}
{% endcolumns %}

***

{% columns %}
{% column width="33.33333333333333%" %}

<figure><img src="/files/g8JmJvk3GOF20jWEike2" alt="" width="175"><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

## How to Submit Invoices

A short description on how to submit invoices for vendors.

<a href="/pages/1kqTOxba2UXZrQfwIFxg" class="button primary">Read More</a>
{% endcolumn %}
{% endcolumns %}

***

## Need More Guidance?

<button type="button" class="button primary" data-action="ask" data-icon="gitbook-assistant">Ask a question…</button>  &#x20;

Navigate the sections below for more information or contact us for assistance.

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h4>Nominating Assurers</h4></td><td>More information about Third Party Assurers</td><td data-object-fit="contain"><a href="/files/BNwQmMlW2w52ZFq2GAYG">/files/BNwQmMlW2w52ZFq2GAYG</a></td><td><a href="/pages/yRE9ujCueE85nXhI5FDt">/pages/yRE9ujCueE85nXhI5FDt</a></td></tr><tr><td><h4>FAQs</h4></td><td>Get answers to frequently asked questions </td><td data-object-fit="contain"><a href="/files/x5oQQpvrMyysw7ExTExl">/files/x5oQQpvrMyysw7ExTExl</a></td><td><a href="/pages/ftYELGrx6ViPvAEuMQ76">/pages/ftYELGrx6ViPvAEuMQ76</a></td></tr><tr><td><h4>Policies</h4></td><td>Here you will find all policies a vendor needs to be aware of.</td><td data-object-fit="contain"><a href="/files/fNli9cUYFSn3IWrom4Sb">/files/fNli9cUYFSn3IWrom4Sb</a></td><td><a href="/pages/IIFT6LGxYfvfgss0XlEE">/pages/IIFT6LGxYfvfgss0XlEE</a></td></tr><tr><td><h4>Feedback</h4></td><td>If you have any feedback, please visit this page here.</td><td data-object-fit="contain"><a href="/files/z9vSZg44crcmV32IH01d">/files/z9vSZg44crcmV32IH01d</a></td><td><a href="/pages/hLHgdN9TrsrZSXRC99cp">/pages/hLHgdN9TrsrZSXRC99cp</a></td></tr><tr><td><h4>Resources</h4></td><td>Access to template downloads, example documents</td><td data-object-fit="contain"><a href="/files/UwnT2fZxvelc4MosUeGP">/files/UwnT2fZxvelc4MosUeGP</a></td><td><a href="/pages/CvfnEUjQR4xKXogPgv67">/pages/CvfnEUjQR4xKXogPgv67</a></td></tr><tr><td><h4>Glossary</h4></td><td>Understand terms used in your contracts.</td><td data-object-fit="contain"><a href="/files/00ibviGDaU0tFVPKdaVP">/files/00ibviGDaU0tFVPKdaVP</a></td><td><a href="/pages/2g1QrshriRbIs5qf4rHY">/pages/2g1QrshriRbIs5qf4rHY</a></td></tr><tr><td><h4>Contact</h4></td><td>Need some assistance? contact our team here.</td><td data-object-fit="contain"><a href="/files/P5VZGYUmnbA477SW14we">/files/P5VZGYUmnbA477SW14we</a></td><td><a href="/pages/pWxXXIGZ3OjxD9cAzCDX">/pages/pWxXXIGZ3OjxD9cAzCDX</a></td></tr><tr><td><h4><strong>Governance</strong></h4></td><td>What Governance does Intersect have in place.</td><td><a href="/files/8OjZmoRO6Kc2zMmzfOaL">/files/8OjZmoRO6Kc2zMmzfOaL</a></td><td><a href="/pages/lEq1pOTFOSRpPDBtjVcm">/pages/lEq1pOTFOSRpPDBtjVcm</a></td></tr></tbody></table>


# 1 - Contracting & Onboarding

## Overview

Designed for vendors, but useful to all, this hub provides transparency on everything you may need to know about agreeing a contract and delivering a proposal under Intersects administration.&#x20;

## Key stages in delivering your proposal

This page will take you through the key stages in delivering your proposal:

<details open>

<summary><strong>Procurement Due Diligence - Verifying Vendor's information</strong></summary>

Once your proposal has passed the voting threshold, you will be contacted by the Procurement team to complete your due diligence. This involves:

* Background ID Check
* KYC / KYB Checks
* ID Documentation Authentication Check
* Business Documentation Checks
* Wallet Checks

You can find more information in our [Due Diligence Policy](/governance/policies-and-guidance/due-diligence-policy) (*to be updated).*

</details>

<details open>

<summary><strong>Procurement - Creating your legal contract</strong></summary>

#### **Procurement - Creating your legal contract**

Intersects Procurement team will lead on any contract agreements for Intersect or where Intersect is selected as an Administrator on behalf of the Cardano Development Holdings (CDH). The first part of the process is to agree a traditional legal contract with Intersect as the administrator for your proposal.&#x20;

**Contract Finalization**

* Usually following successful on-chain voting, we will invite you to complete your contract.
* Hopefully at this point you have already been in contact and a draft contract is in progress, this will now be subject to the necessary final reviews.
* This is your last chance to make any amendments prior to it being signed. Remember your delivery will become public information and milestones will be immutably recorded on-chain.

**Contract Signing**

* It is a constitutional requirement to have a contract in place between the vendor and administrator.
* Before delivery begins or any funds can be released the contract must be signed by all parties. Once the final draft has been completed this contract will be sent for signature by the Procurement team.

**Additional details**

More details on our contracting, associated policies, KYC and KYB can be found here on our knowledge base.

[How To - Write Milestones Within Your Statement of Work](/guides/vendor-guides/1-contracting-and-onboarding/how-to-write-milestones-within-your-statement-of-work)

[<mark style="background-color:purple;">Milestones Example Download</mark>](https://drive.google.com/file/d/18Yfv9rwKgayv1cVPzSj3QNOJP37UbIxZ/view?usp=drive_link)

</details>

<details open>

<summary><strong>Delivery Assurance - Introduction to Delivery Assurance</strong></summary>

Once Procurement have completed all their legal checks and have a signed legal contract by both the vendor and Intersect, they will hand over the contract to Delivery Assurance to manage. The Delivery Assurance team will be the vendor’s main point of contact within Intersect throughout the management of the contract.

**Introduction to Delivery Assurance**

* You will be given a Delivery Assurance team member as your main point of contact throughout contract delivery. We will support milestone tracking, milestone sign off, and ensure alignment between the legal contract, smart contract, and what’s being delivered.

**Communications Channel Setup**

* A communication channel will be created (Slack, Discord or email) to share any updates or ask any questions directly with the Delivery Assurance team at Intersect (Permissions for Intersect to record contact details).

**Delivery Familiarization**

* We will set up an onboarding call with you to discuss your milestones, acceptance criteria, third-party assurance review, and how the milestone acceptance process works.
* We will also share and explain with you how to request any changes to the contract, should you need to do this.

</details>

<details open>

<summary><strong>Smart Contracts- Setting up your Smart Contract</strong></summary>

**Smart Contracts- Setting up your Smart Contract**

All deliveries under Intersects administration will be managed through a smart contract, if you have not already done so you should familiarize yourself with this framework [*smart contracts*](/governance/smart-contracts)*.*

**Funding a Vendor Contract**

* The Delivery Assurance team will submit an on-chain action to fund a specific vendor smart contract instance, this will contain your payment schedule from your agreed written contract.
* This smart contract has to be witnessed by Intersect’s independent oversight and the process for this, due to how timing works on-chain, this could take up to 36 hrs.
* Vendors also have to verify and sign this transaction. This will also validate that the wallet address you have provided is correct.
* This creates a transparent version of your contract on-chain, witnessed by yourself, Intersect and Intersect’s independent oversight committee.

That's it! From this point onward your delivery is immutably confirmed on-chain and delivery can begin.

[The Oversight Committee](/governance/the-oversight-committee)

[Smart Contracts](/governance/smart-contracts)

</details>

***

**Go to Step 2 – Delivery and Milestone Management**

Navigate to the next stage of the process to learn how to manage your milestones, submit evidence, and stay aligned with delivery requirements.

<a href="/pages/YDnueBx0a1byp9z2ihWW" class="button secondary" data-icon="slider-circle">Go To Delivery and Milestone Management</a>

***


# How To - Write Milestones Within Your Statement of Work

## Guide Overview

Submitting milestone evidence is a key part of ensuring transparency, accountability, and timely payment.&#x20;

**You will find links to the Milestone Acceptance Form Templates and Milestone Acceptance Form Examples at the bottom of this page.**

{% hint style="info" %}

## Download forms

To download the forms related to this page from [here](#downloads-and-resources)
{% endhint %}

***

### What is Considered a Good Example?

<table><thead><tr><th valign="middle">Good Example</th><th width="181">Milestone (Reference Name)</th><th width="212">Acceptance Criteria</th><th>Deliverables</th></tr></thead><tbody><tr><td valign="middle"><strong>Example</strong></td><td><strong>Milestone 1</strong> – Development of Constitutional Committee candidates registration.</td><td>Delivering a secure, reliable, and user-friendly production-ready platform that allows candidates to successfully register and enables administrators to efficiently manage and verify applications in full support of the Constitutional Committee election.</td><td>Deliver registration functionalities for CC candidates, test them, and make them production ready to support the CC election.</td></tr><tr><td valign="middle"><strong>Why is this a good example?</strong></td><td><p><strong>It is specific:</strong> The name clearly states the scope ("candidates registration") and its sequence in the project ("Milestone 1"), making it easy to understand and track.</p><p><br><strong>It is outcome-based:</strong> It focuses on the creation of a tangible capability rather than a vague period of work.</p></td><td><p><strong>It is measurable and objective:</strong> Success is defined by clear, testable actions like "candidates can successfully register" and objective qualities like "secure." These can be verified without personal opinion.</p><p><br></p><p><strong>It is binary:</strong> The criteria establish a clear pass/fail state. The platform either meets these conditions or it doesn't, leaving no room for ambiguity about whether the milestone is complete.</p></td><td><p><strong>They are tangible outputs:</strong> The deliverables are concrete results—a "production-ready" system with working "functionalities"—not just a list of ongoing tasks.</p><p><br></p><p><strong>They are verifiable:</strong> A reviewer can see the delivered functionalities, check the test results, and confirm the system is ready, providing clear proof of completion.</p></td></tr></tbody></table>

### What is Considered a Bad Example?

<table><thead><tr><th width="125" valign="middle">Bad Example</th><th width="181">Milestone (Reference Name)</th><th width="228">Acceptance Criteria</th><th>Deliverables</th></tr></thead><tbody><tr><td valign="middle"><strong>Example</strong></td><td><strong>Milestone 1</strong> - <strong>Phase 2</strong> Further Platform Development.</td><td>The platform's core features are mostly done and the UI is better. The system should be robust enough for some initial users to try out.</td><td><p></p><ul><li>Work on the smart contracts.</li><li>Continue design of the user interface.</li><li>Investigate different integration options.</li></ul></td></tr><tr><td valign="middle"><strong>Why is this a bad example?</strong></td><td><p><strong>It's not specific:</strong> What does "Further Platform Development" include? This name is generic and provides no clear scope. Stakeholders have no idea what is actually being built.</p><p><br><strong>It's not outcome-based:</strong> It describes a period of ongoing work ("Phase 2") rather than a specific outcome or achievement.</p></td><td><p><strong>It's not measurable or objective:</strong> Words like "mostly done," "feels better," and "robust enough" are subjective and depend on opinion. What one person considers "mostly done," another might see as half-finished.</p><p><br><strong>It's not binary:</strong> It cannot be answered with a simple "yes" or "no." This ambiguity leads to disputes over whether the milestone is actually complete.</p></td><td><p>They are tasks, not outputs: Phrases like "Work on," "Continue design," and "Investigate" describe ongoing activities, not finished, tangible items. It's impossible to confirm when "Work on" is actually complete.</p><p><br><strong>They are not verifiable:</strong> There is no finished product to hand over. How do you deliver "Continue design"? A good deliverable would be "Finalized UI Mockups" or "Deployed Smart Contract V1 on Testnet."</p></td></tr></tbody></table>

## Downloads and Resources

<table data-view="cards"><thead><tr><th></th><th data-type="files"></th><th data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4>Download MAF Template</h4></td><td><a href="/files/3beOo6bGFzTIXat38C1G">/files/3beOo6bGFzTIXat38C1G</a></td><td></td><td><a href="/files/aVddcIPJZSe40CY3y4Ix">/files/aVddcIPJZSe40CY3y4Ix</a></td></tr><tr><td><h4>Download MAF Examples</h4></td><td><a href="/files/vXDEbBKjMBnt75SijHd9">/files/vXDEbBKjMBnt75SijHd9</a></td><td></td><td><a href="/files/Fpa5FiKPKDO4kKtraFxP">/files/Fpa5FiKPKDO4kKtraFxP</a></td></tr><tr><td><h4>Best Practice Policy</h4></td><td></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td><td><a href="/files/rENfdDemiImAB60CnRoz">/files/rENfdDemiImAB60CnRoz</a></td></tr></tbody></table>

***

<h3 align="center">Need Templates or Supporting Documents?</h3>

{% columns fullWidth="true" %}
{% column width="41.66666666666667%" %}

<figure><img src="/files/VDmdSeoDbaEsoM5IfdiW" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>  &#x20;

<a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}


# 2 - Delivery and Milestone Management

## Overview

This section takes you through how to manage your contract once your proposal has been approved by the community.

## Contract Management Process

<details open>

<summary><strong>Smart Contract Administration Dashboard</strong></summary>

To assist the use of smart contracts, an administration dashboard is available. It will be accessible to vendors via the credentials provided by the vendor in the legal contract.&#x20;

Delivery Assurance will complete a visual check to ensure you can login and interact with your smart contract instance.

This will allow you - the vendor, to complete the following actions:

* Sign a contract
* Sign a contract change
* Attach your Milestone Acceptance Forms (MAF)
* Withdraw milestone payments on chain
* View your project details, milestone details and progress
* Documentation on the administration tooling is available [here](https://www.intersectmbo.org/news/smart-contract-tooling-whats-available-and-whos-it-for).

<https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619?projectState=Active>

</details>

<details>

<summary><strong>Milestone Completion Process</strong></summary>

* Once you have completed a milestone, ensure you have delivered what was agreed within the legal contract.
* You are required to submit a MAF explaining what you did and how you achieved your milestone, in line with the acceptance criteria in your legal contract.
* Prepare your milestone evidence using the MAF template, as outlined in the Delivery Assurance Best Practice Policy.&#x20;
* Share a copy of the MAF with Delivery Assurance once it has been reviewed by the TPA, or at the same time, via Slack or another agreed communication channel.
* Delivery Assurance will provide feedback, which should be addressed prior to finalization.
* Once feedback has been implemented and Delivery Assurance is satisfied, seek formal signature from the TPA.
* Upload the final MAF (with TPA signature) as metadata to the milestone through the administration dashboard, prior to or on the milestone delivery date.
* Sign the MAF via the dashboard; Delivery Assurance will then complete the final signature.
* There may be an additional milestone requirement to make any Third Party Assurer assessment documentation public.

[Templates](/resources/resources/templates#download-milestone-acceptance-form)

[Delivery Assurance Process and Best Practice Policy](/governance/policies-and-guidance/delivery-assurance-process-and-best-practice-policy)

[How To - Submit Milestones](/guides/vendor-guides/2-delivery-and-milestone-management/how-to-submit-milestones)

</details>

<details>

<summary><strong>Review &#x26; Outcome</strong></summary>

* Delivery Assurance will review the MAF to ensure it has been completed and uploaded correctly. We will review it against a standard checklist to ensure the MAF:
  * Includes all required fields and links to supporting documents, with all links accessible,
  * Contains deliverables that are complete and aligned with the descriptions outlined in the SoW,
  * Clearly demonstrates how each acceptance criterion has been satisfied,
  * Provides evidence that is clear, credible, and verifiable.
* All submitted evidence is transparent to the community. If there is something sensitive to share, please contact your Delivery Assurance representative.
* If evidence is sufficient, the payment will become available to withdraw as per the milestone payment date.
* If evidence is not supplied or is deemed insufficient, Delivery Assurance will work with you to rectify the issue; if unresolved, the milestone may be paused (subject to Intersect senior approval), with rationale provided.
* If a milestone is paused, once sufficient evidence is provided and uploaded, payment can be resumed and the milestone will be available to withdraw.

Here is an example of a [Good MAF](https://drive.google.com/file/d/16mflKXUKRVi1oJMh3_PomCqBJHdSH17L/view?usp=drive_link).

You are required to follow this process to ensure consistency across all vendors and projects and also help the community understand the value you have delivered.

</details>

<details>

<summary><strong>Invoice Submission</strong></summary>

Many organisations will still require invoices for legal and traditional financial bookkeeping, including the CDH.

* Vendors must submit invoices for every milestone, via the smart contract dashboard.
* Invoices must be submitted in accordance with the details provided in the appendix (link to be updated), as invoices are processed automatically. Failure to submit correctly may result in the invoice being automatically rejected.
* The invoice should be submitted within 5 working days of the milestone completion date to avoid payment date delays.

If you have not met the quality and upload criteria of the milestone and MAF metadata, and the invoice submission - your payment will be paused until these have been rectified.

[How To - Submit an Invoice](/guides/vendor-guides/2-delivery-and-milestone-management/how-to-submit-an-invoice)

</details>

<details>

<summary><strong>Payment</strong></summary>

Each written contract specifies a milestone completion date and a payment date. This payment date is usually 30 days following the milestone completion date. This allows a circa 30 day period to review and approve milestone evidence, much like how traditional contracts have payment terms.

Whilst Intersect does not want to unduly deny or delay funding to vendors it is important that sufficient time is taken to review evidence and if necessary, solicit community feedback prior to the payment date.&#x20;

As a safeguard towards vendors, the smart contract framework operates as ‘fail-open’, this means that should Intersect or its oversight fail in any way, vendor payments will never be automatically blocked.

<figure><img src="/files/tttobc8mIk2QlD6jF8lR" alt="" width="563"><figcaption></figcaption></figure>

</details>

<details>

<summary><strong>Milestone Spot Check Reviews</strong></summary>

To further strengthen the integrity of our Administration function, Intersect is adding to it's milestone review process to include a layer of technical validation known as "Milestone Spot-Check Reviews".

As Intersect's Administration offering grows, we are introducing a dedicated technical layer to our review process to complement our administrative oversight. While Intersect continues to manage the administrative oversight of Treasury-funded project milestones, we will now engage trusted community reviewers to provide independent technical assurance. This ensures that project deliverables are meeting high technical standards, while providing an objective review to support successful project outcomes.

How are milestones selected for review?

Not every milestone is required to be reviewed. Selection could be based on:

* Significance: High-impact or high-value deliverables.
* Community Interest: Items of particular importance, or dependencies within the ecosystem.
* Internal Selection: Standardized "spot checks" at chosen milestones in vendor contracts, to maintain baseline quality.

How will this change affect current vendors?

We have designed this process to ensure the highest project delivery standards across the ecosystem without disrupting active vendors:

* No delays to approval or payment: These additional review checks will be conducted within the agreed delivery and payment dates of administration contracts.
* No extra documentation required: All information required should be readily submitted and available in the normal MAF submissions.
* Continuous quality is expected: Depending on the nature and reason for the additional review, you may not be notified until after its completion. Any milestone could be selected for an additional review, so vendors should attest and submit quality milestones at all times.
* Direct issue resolution: If the reviewer identifies an issue, Intersect's administration team will notify the vendor should any issues or irregularities need to be addressed, and the terms and conditions under which these must be addressed.
* Third Party Assurers (TPAs) are still needed: This change does not replace the need for vendors to provide their own Third Party Assurance or community feedback. TPAs provide valuable insight and knowledge sharing across the ecosystem.

Where can the community find the outcomes of the milestone reviews?

Review feedback will be shared with the Vendor and where appropriate the wider community. This feedback will be provided directly by Intersect, not via a reviewer or other intermediary, which is Intersect's duty as an administrator.

To protect against undue recourse of a reviewer, specific reviewers for specific milestones will remain anonymous where possible. However, Intersect will publish a list of the reviewers it has contractual agreements with. Additionally, periodic reporting will be provided to Intersect's independent oversight committee as evidence against conflict of interests between reviewers and vendors.

</details>

<details>

<summary><strong>Public Demonstrations</strong></summary>

As part of your commitment to the community, you may be required to deliver a public demonstration showcasing the progress of your work. For example, this could involve presenting your project at an Intersect Town Hall. Where applicable, this requirement will be defined within your contract as a formal milestone.

</details>

***

**Go to Step 3 – Smart Contract Actions & Contract Completion**

Move to the final stage of the process to understand how smart contract actions work and what to expect as your project reaches completion.

<a href="/pages/NK4xI1zp3bSG4UtSonwD" class="button secondary" data-icon="slider-circle">Go to Smart Contract Actions & Contract Completion</a>


# How To - Manage Contract Changes

## Guide Overview

During delivery, projects evolve and sometimes your contract needs to evolve with it. Whether you’re requesting a modification, seeking a disbursement outside the smart contract, or raising a concern, this guide walks you through the correct process and who to contact at each stage.

## Modifying a Contract

{% stepper %}
{% step %}

### **1. Start with a Discussion**

Before submitting anything, reach out to the Delivery Assurance (DA) Team. Early collaboration helps both parties align on what needs to change and ensures the final request is accurate and mutually agreed.
{% endstep %}

{% step %}

### **2. Submit Your Request Using the Template**

Once aligned, send your modification request to the DA Team using the provided template. This ensures all required information is captured clearly.
{% endstep %}

{% step %}

### **3. Review and Update the Contract**

DA and Procurement will work with you to review the request and make the necessary updates. These changes will be formally recorded in either:

* an updated legal contract, or;
* a Statement of Work (SOW) addendum.
  {% endstep %}

{% step %}

### **4. Update the Vendor Smart Contract**

Before the changes take effect, a modify action must be executed on your vendor smart contract instance. This ensures the update is transparent and visible to the community.

The process is as follows:

* Intersect initiates and signs the modification action.
* The action is then passed to the vendor and the oversight committee for their signatures.
* All signatures must be completed within 36 hours. If not, the action expires and must be resubmitted.
  {% endstep %}
  {% endstepper %}

***

## **Requesting a Disbursement**

In some cases, ADA payments via smart contracts may not meet the needs of your project. When this happens, you may request that funds be disbursed in Stablecoins or Fiat instead.

{% hint style="warning" %}

### **Important Note**

This process is exception‑only. Moving funds out of a smart contract reduces transparency, so it should only be used when absolutely necessary.
{% endhint %}

### **How to Request a Disbursement**

1. Contact your Delivery Assurance POC to explain the situation.
2. These requests are reviewed by the Intersect executive team and handled on a case‑by‑case basis.

### **Provide a Clear Rationale**

Your request must include a rationale explaining why funds need to be moved out of the smart contract. Once agreed, this rationale will be attached to the disbursement action.

***

## Need Templates or Supporting Documents?

{% columns fullWidth="false" %}
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<figure><img src="/files/WIMUqiIpi7xlh1CHmynE" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>   <a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}


# How To - Complete Your Milestone Acceptance Form (MAF)

## Guide Overview

This guide walks you through the full process of completing your milestone, preparing your Milestone Acceptance Form, uploading your evidence, and understanding how Delivery Assurance reviews your submission.&#x20;

**You will find links to the Milestone Acceptance Form Templates and Milestone Acceptance Form Examples at the bottom of this page.**

***

## **Process to complete a MAF**

{% stepper %}
{% step %}

### **1. Complete the Milestone Work**

Before preparing any documentation, confirm that you have delivered everything outlined in your legal contract. Your milestone evidence must directly reflect the acceptance criteria agreed upon.
{% endstep %}

{% step %}

### **2. Prepare Your Milestone Evidence**&#x20;

Use the **Milestone Acceptance Form (MAF) Template** to document your work clearly and thoroughly. The template guides you through each required section:

#### **Milestone Name and Number**

Identify the milestone exactly as it appears in your contract.

#### **Milestone Description**

Copy and paste the full milestone description from your contract without altering the wording. This ensures clarity and prevents misunderstandings about what was expected.

#### **Acceptance Criteria Met**

This is the most important part of your submission. For each acceptance criterion:

* List the criterion exactly as written in your contract
* Confirm that the work has been completed
* Provide direct, publicly accessible evidence such as:
  * links to live features
  * video demonstrations
  * public code repositories
  * technical documentation
  * test results
  * public attestations or community‑visible updates

Your goal is to **show the work**, not simply state that it is complete.

#### **Quality and Testing**

Explain how you ensured the milestone is functional, stable, and high‑quality. This may include:

* Manual testing
* Automated testing
* Performance checks
* Security measures
* Usability and design reviews

Where possible, include links to supporting evidence such as test plans, reports, or scan results.

#### **Public Communication Summary**

Write a clear, non‑technical summary that explains:

* The purpose of the project
* How this milestone fits into the overall goals
* What was delivered
* Why it matters to the community
* Where people can learn more or follow progress

This helps the community understand the value you have delivered.
{% endstep %}

{% step %}

### **3.** Share Your Milestone Acceptance Form for Review

Once your Milestone Acceptance Form is drafted:

* Share it with Delivery Assurance after it has been reviewed by the Third Party Assurer, or
* Share it with both at the same time through Slack or your agreed communication channel

Delivery Assurance will provide feedback. Make sure to address all comments before finalizing.
{% endstep %}

{% step %}

### **4.** Finalize, Sign, and Upload Your Milestone Acceptance Form

When Delivery Assurance confirms that your evidence is ready:

1. Request the formal signature from the Third Party Assurer
2. Upload the final, signed Milestone Acceptance Form as metadata to your milestone in the administration dashboard
3. Sign the Milestone Acceptance Form through the dashboard
4. Delivery Assurance will complete the final signature

This must be completed on or before the milestone delivery date.
{% endstep %}

{% step %}

### **5. Review & Outcome**

Delivery Assurance will verify that:

* the Milestone Acceptance Form is complete
* evidence is correctly uploaded
* acceptance criteria have been met

#### **If evidence is sufficient**

Your payment will become available to withdraw on the milestone payment date.

#### **If evidence is insufficient**

Delivery Assurance will work with you to resolve the issue. If the issue cannot be resolved, the milestone may be paused with senior approval. Once sufficient evidence is provided and uploaded, payment will resume.

All milestone evidence is visible to the community. If you need to share sensitive information, contact Delivery Assurance before uploading.
{% endstep %}

{% step %}

### **6.** Understanding Metadata, Milestone Acceptance Forms & Invoices

#### **Milestone Metadata**

You must attach your completed Milestone Acceptance Form as metadata to the milestone in the smart contract dashboard. This ensures:

* consistency across all vendors
* clarity for reviewers
* transparency for the community

It is recommended that you share your Milestone Acceptance Form offline first (for example, through Slack) so any issues can be corrected before uploading.
{% endstep %}
{% endstepper %}

***

## Downloads and Resources

<table data-view="cards"><thead><tr><th></th><th data-type="files"></th><th data-type="content-ref"></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4>Download MAF Template</h4></td><td><a href="/files/aK6bFNSrcuQxEUA81Pin">/files/aK6bFNSrcuQxEUA81Pin</a></td><td></td><td><a href="https://drive.google.com/drive/folders/1TMML86qVxOOy-Eufm5QqhVKCIruCSdMp">https://drive.google.com/drive/folders/1TMML86qVxOOy-Eufm5QqhVKCIruCSdMp</a></td><td><a href="/files/aVddcIPJZSe40CY3y4Ix">/files/aVddcIPJZSe40CY3y4Ix</a></td></tr><tr><td><h4>Download MAF Examples</h4></td><td><a href="/files/vXDEbBKjMBnt75SijHd9">/files/vXDEbBKjMBnt75SijHd9</a></td><td></td><td><a href="https://drive.google.com/file/d/18Yfv9rwKgayv1cVPzSj3QNOJP37UbIxZ/view?usp=drive_link">https://drive.google.com/file/d/18Yfv9rwKgayv1cVPzSj3QNOJP37UbIxZ/view?usp=drive_link</a></td><td><a href="/files/Fpa5FiKPKDO4kKtraFxP">/files/Fpa5FiKPKDO4kKtraFxP</a></td></tr><tr><td><h4>Best Practice Policy</h4></td><td></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr></tbody></table>

***

<h3 align="center">Need Templates or Supporting Documents?</h3>

{% columns fullWidth="true" %}
{% column width="41.66666666666667%" %}

<figure><img src="/files/WIMUqiIpi7xlh1CHmynE" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>   <a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}


# How To - Submit Milestones

## Guide Overview

At this point your vendor smart contract should already be deployed and active. The following guide will walk you through how to submit evidence and withdraw a milestone payment.&#x20;

**You will find links to the Milestone Acceptance Form Templates and Milestone Acceptance Form Examples at the bottom of this page.**

***

## **Process to submit a milestone**

Your vendor smart contract commits your project and delivery schedule; milestone name, deliverable, payment date and amount, immutably to the Cardano blockchain. This metadata and any subsequent agreed changes will be publicly available.

{% stepper %}
{% step %}

### **Step 1: Prepare and Share Your Milestone Acceptance Form**

In your agreed communication channel with the Intersect Delivery Assurance team, you must provide a completed Milestone Acceptance Form for each milestone. This must be done **on or before the Milestone Completion Date** stated in your legal contract.

#### **Best practice tip**

It is helpful to **prepare a Milestone Acceptance Form** for each milestone in advance. Share drafts early and work on them openly with the Delivery Assurance team. They may be able to give feedback throughout the process, not just at the end. This usually speeds up review and acceptance.

The Delivery Assurance team will review your Milestone Acceptance Form and confirm whether the evidence meets the deliverables and acceptance criteria in your contract.

#### **If your Milestone Acceptance Form is accepted**

* The Delivery Assurance team will host your completed form and give you a link to it.
* You will use this link later when submitting evidence on‑chain.
* (If agreed in advance, you may host the form yourself and provide the link.)

#### **If your Milestone Acceptance Form is not accepted, or not submitted on time**

* The Delivery Assurance team will explain why it is not acceptable and tell you what needs to be fixed.
* If no Milestone Acceptance Form is provided at all, the Delivery Assurance team will recommend pausing the current milestone and all future milestones.

{% endstep %}

{% step %}

### **Step 2: Log in to the Smart Contract Administration Dashboard**

1. Go to:\
   [**https://treasury.sundae.fi/instances**](https://treasury.sundae.fi/instances)
2. Log in using the wallet or credential you provided in your legal contract.

<figure><img src="/files/PZO7sv4hREnWciwCQhQA" alt="" width="375"><figcaption></figcaption></figure>

{% endstep %}

{% step %}

### **Step 3: Find Your Vendor Smart Contract**

Navigate to your vendor smart contract.\
The contract name will usually match (or be a shortened version of) your legal contract name.

If you have several projects, the name may combine multiple project titles.\
Longer projects may also be split into several smart contracts, even though you have only one legal contract. These names should be agreed in advance.

Smart contracts where you have available actions will be highlighted.

<figure><img src="/files/PAIhDw9ufb2fIgp3l6An" alt="" width="375"><figcaption></figcaption></figure>

{% hint style="info" %}
***Open your vendor smart contract and continue to Step 4.***
{% endhint %}

{% endstep %}

{% step %}

###

### **Step 4: Submit Your Evidence On‑Chain**

Click the **“Submit Evidence”** button.

<figure><img src="/files/wOg12Ml1YfWhBOspWW2p" alt="" width="375"><figcaption></figcaption></figure>

A pop‑up form will appear. Complete the fields as follows:

* **Milestone:** Select the milestone this evidence relates to. Some vendors have multiple milestones requiring evidence.
* **Title:** Enter a clear title, including the milestone number and name exactly as written in your legal contract.
* **Evidence URL:** Paste the link provided by the Delivery Assurance team in Step 1. This link must point to your completed Milestone Acceptance Form.

<figure><img src="/files/Yf16Ese4c4edHsSlCj0V" alt="" width="372"><figcaption></figcaption></figure>

{% hint style="info" %}
***Once finished, click “Submit Evidence”.***\
***You may be asked to sign a transaction to submit the evidence on‑chain.***
{% endhint %}

{% hint style="warning" %}

#### **Important**

* If you do not submit a Milestone Acceptance Form on or before the Milestone Completion Date, or do not submit evidence at all, your smart contract payment date may be paused.
* Many organisations still require invoices. Submit your invoice within **5 working days** of the Milestone Completion Date, following your contract instructions.
* Failure to submit invoices may also result in payment delays or paused milestones.
  {% endhint %}
  {% endstep %}

{% step %}

### **Step 5: Withdraw Your Available Payments**

{% hint style="info" %}
***Once your evidence is submitted, you may choose the option: “Withdraw All Available Payments”***
{% endhint %}

<figure><img src="/files/IWzVVHZrV0zguznKVXhz" alt="" width="431"><figcaption></figcaption></figure>

Follow the prompts to withdraw any milestone payments that have reached their payment date.

{% hint style="warning" %}

#### **Important**

Withdrawing payments **without providing evidence** may result in all future milestones being paused.
{% endhint %}
{% endstep %}
{% endstepper %}

## **Additional Information**

Where possible, on‑chain smart contracts will be used to manage your project’s treasury funds. The following resources explain how smart contracts work within Intersect’s administration:

* [Smart Contract Dashboard](https://treasury.sundae.fi/)
* [Smart Contracts and Cardano Budgets Blog](https://www.intersectmbo.org/news/%EF%B8%8F-smart-contracts-and-cardano-budgets)
* [Smart Contracts as Part of Intersect’s Administration – Knowledge Base](/governance/smart-contracts)
* [Treasury Oversight Management](/governance/the-oversight-committee/how-the-oversight-committee-protects-vendors-and-treasury-funds)

***

## Downloads and Resources

<table data-view="cards"><thead><tr><th></th><th data-type="files"></th><th data-type="content-ref"></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4>Download MAF Template</h4></td><td><a href="/files/aK6bFNSrcuQxEUA81Pin">/files/aK6bFNSrcuQxEUA81Pin</a></td><td></td><td><a href="https://drive.google.com/drive/folders/1TMML86qVxOOy-Eufm5QqhVKCIruCSdMp">https://drive.google.com/drive/folders/1TMML86qVxOOy-Eufm5QqhVKCIruCSdMp</a></td><td><a href="/files/aVddcIPJZSe40CY3y4Ix">/files/aVddcIPJZSe40CY3y4Ix</a></td></tr><tr><td><h4>Download MAF Examples</h4></td><td><a href="/files/vXDEbBKjMBnt75SijHd9">/files/vXDEbBKjMBnt75SijHd9</a></td><td></td><td><a href="https://drive.google.com/file/d/18Yfv9rwKgayv1cVPzSj3QNOJP37UbIxZ/view?usp=drive_link">https://drive.google.com/file/d/18Yfv9rwKgayv1cVPzSj3QNOJP37UbIxZ/view?usp=drive_link</a></td><td><a href="/files/Fpa5FiKPKDO4kKtraFxP">/files/Fpa5FiKPKDO4kKtraFxP</a></td></tr><tr><td><h4>Best Practice Policy</h4></td><td></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr></tbody></table>

***

<h3 align="center">Need Templates or Supporting Documents?</h3>

{% columns fullWidth="true" %}
{% column width="41.66666666666667%" %}

<figure><img src="/files/xs83OhxN2L6r8sM2B03W" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>   <a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}


# How To - Submit an Invoice

## **Guide Overview**

Submitting invoices correctly is essential for ensuring timely payment and maintaining accurate financial records. This guide brings together all invoicing requirements, milestone‑linked submission rules, and payment timelines so you know exactly what to do at each step.

***

## Invoice Template

{% file src="/files/GEZa6RsfkvRAfhBhaiPD" %}

***

## **How to Submit Your Invoices**

Even though payments are executed through smart contracts, many organisations, including the Cardano Delegated Holding (CDH) still require invoices for legal and traditional financial bookkeeping.

For this reason:

* **You must submit an invoice for every milestone**, and
* **All invoices must be submitted through the smart contract dashboard**

### General Submission Requirements

* All invoices and credit notes will be submitted via the Smart Contract Treasury dashboard.
* Invoices and Milestone Acceptance Forms must be submitted within 5 working days of completing the milestone.&#x20;
* Invoices will only be processed if the Milestone Acceptance Form has been signed by all relevant parties including third party assurance.
* Invoices must be submitted in the currency stated in the agreement.
* A specific naming convention must be applied to attached invoice file name:
  * *Document type - Supplier Name - Project Number - Document date (YYYYMMDD)*
  * *Invoice - ABC Ltd - CN-0000-25 - 20250331*

Subject to the Administrator’s reasonable satisfaction that the Milestone has been completed, the Supplier may withdraw the corresponding payment under the vendor contract, in accordance with the Milestone payment schedule set out in Appendix A (payments scheduled on the 30th of the month).

If the Administrator, acting reasonably and in good faith, determines that the Milestone has not been satisfactorily completed, payment may be withheld. Once the Milestone is deemed complete and the relevant invoice and MAF have been provided, the associated payment will be unlocked and available for withdrawal.

### Invoice Content Requirements

Each invoice must contain the following information:

Supplier Details:

1. Company Name or Full Name
2. Full Address (street name and number, city, postal code, country)
3. Customer Name & Billing Address: Please check your service agreement to confirm the location:
   1. Intersect
   2. 1920 Thomes Ave Ste 610&#x20;
   3. Cheyenne
   4. WY 82001
4. Invoice Core Details
   1. Invoice Number (e.g., “Invoice123”)
   2. Invoice Date (e.g., “2025-03-31”)
   3. Project Number (e.g., CN-0000-25)

Suppliers must invoice based on pre-defined Milestones stated in the Statement of Work (SoW):

* Milestone Name (as per SoW)
* Milestone Number (as per SoW)
* Agreed Fixed Price for the Milestone&#x20;
* For payments in ADA currency, please provide the wallet address.

Example below:

<figure><img src="/files/5wwV8W0I6UmIUsmJs5dL" alt=""><figcaption></figcaption></figure>

If your wallet details change, please notify <billing@intersectmbo.org> with official documentation prior  to submitting your next invoice. Additional verification (KYC/KYB) may be required.

Failure to follow these guidelines may result in payment delays.

For any questions or assistance, contact <billing@intersectmbo.org>.

<br>

***

<h3 align="center">Need Templates or Supporting Documents?</h3>

{% columns fullWidth="true" %}
{% column width="41.66666666666667%" %}

<figure><img src="/files/VDmdSeoDbaEsoM5IfdiW" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>  &#x20;

<a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}


# 3 - Smart Contract Actions & Contract Completion

## Overview

In this section we go through each smart contract action, these are events which may occur during your delivery. We will provide a little more detail on what happens and what you can expect should these happen.&#x20;

## Smart Contract Actions

<details>

<summary><strong>Pause -</strong> Pausing a milestone</summary>

* Due to the ‘fail open’ nature of Vendor Smart contracts, payments are automatically set up to release funds 30 days after the Milestone due date. Should a milestone not be completed by the contracted milestone delivery date, the payment will be paused by Intersect admin until completion can be evidenced and the MAF is signed off.&#x20;
* If a milestone delivery date is reached and a MAF has not been completed to the required standard, you will be contacted by the Delivery Assurance team to discuss the status of the milestone.&#x20;
* The decision to pause a payment Milestone will be reviewed by the Intersect Leadership Team. You will be notified by the Delivery Assurance Team of any decision to Pause any milestone payments along with justification. Any justification as to why a milestone has been paused, will be attached to the smart contract dashboard as metadata.

</details>

<details>

<summary><strong>Resume -</strong> Resuming a milestone</summary>

* Following the decision to Pause a milestone, the DA Team at Intersect will communicate the reasons for doing so and rectification actions required to resume the milestone payment.
* On completion of any rectification actions, completion of a successful milestone review and associated MAF, Intersect’s Delivery Assurance Team will recommend to resume the milestone to allow payment.
* The decision to resume a payment Milestone will be taken by the Intersect Executive Team.

  As a vendor you will be notified by the Delivery Assurance Team of any decision to resume any paused milestone payments.
* Note that pausing and resuming a milestone does not affect the milestone delivery date or payment date. Should any rectification effort go past these dates, the payment will be immediately available following the resume action.&#x20;
* In the event that the Milestone cannot be resumed in its current form it may be necessary to Modify Milestone or Escalate.

</details>

<details>

<summary><strong>Modify -</strong> Modifying a milestone</summary>

* During the contract life-cycle, it may be required to update or amend your contract. Either significant milestone date changes or acceptance criteria changes, you must submit a request to have a contract modification undertaken.
* You must send your request to the DA Team, using the template provided. However we would much prefer up front discussion and collaboration so that both parties mutually come to agreement before a final request is submitted.
* DA and Procurement will work with you to review and make changes to the contract which will be reflected in the legal contract or SOW addendum to formally record the changes.

  Before these changes can fully be taken into effect, a modify action will need to be carried out on your vendor smart contract instance, making this change transparent to the community.
* This modification action will be initiated and signed by Intersect, it will then be passed to the vendor and oversight committee to sign, this **must be completed within a 36 hour period** else the smart contract action needs to be resubmitted.

</details>

<details>

<summary><strong>Disburse -</strong> Requesting a disbursement:</summary>

* There maybe situations where smart contracts and ADA payments do not meet the requirements of the project or situation, and it is required to disburse the funds in stables or fiat. This is a process which should be limited in use, as moving funds out of a smart contract severely reduces the transparency of funds thereafter.&#x20;
* Should a situation arise to move funds out of a smart contract the vendor should make this request to their delivery assurance administrator, these requests will be handled by exception with the Intersect executive team.
* Rationale - To start the request the vendor should provide a rationale towards Intersect for review. Ultimately an agreed rationale should be attached to the Disburse action.

</details>

***

#### **Go to Smart Contracts**

Navigate to the next stage of the process to the smart contract section to explore how treasury contracts and vendor contracts work, including permissions, actions, and on‑chain transparency.

<a href="/pages/bmNjYw32acaiYpnMirOz" class="button secondary" data-icon="slider-circle">Go To Smart Contracts</a>

***

## Escalation Paths

Sometimes it is not possible to articulate issues and concerns in a predefined manner. Intersect will always signpost clear an obvious paths for escalation. Should you have any concern regards your delivery you are asked firstly to contract the delivery assurance team via email or Slack.

## Off-boarding & Completion

* Once your final milestone is completed, Intersect will carry out the following due diligence checks to make sure everything is wrapped up!
* At the end of the contract, DA will conduct a final milestone review to verify that all deliverables have been met according to the contract. This includes a comprehensive review of the final evidence submitted, cross-referencing it with the legal contract and the smart contract.
* Agreement with the vendor if any unclaimed funds should be swept back to the treasury
* A chance for the vendor to provide any feedback or any outstanding questions.&#x20;
* Once everything is confirmed, you will receive an email from DA confirming that the contract has been completed and no further action is required from you.
* Your access to any systems will then be closed, any communications channels etc. will be archived.
* You will also have the opportunity to provide feedback via the feedback form. DA will send you a link to this.

For more details please reach out to the Intersect operational services team at our [contact page](/administration/contact-us).


# Third Party Assurer Guides

The Third‑Party Assurer Hub provides everything you need to know about what a Third Party Assurer does.

## **Getting Started as a Third Party Assurer**

<a href="/pages/ftYELGrx6ViPvAEuMQ76" class="button secondary" data-icon="connectdevelop">FAQs</a> <a href="/pages/jsHPlzbVpkV7hQzs3bDu" class="button secondary" data-icon="connectdevelop">Responsibilities</a> <a href="/pages/IIFT6LGxYfvfgss0XlEE" class="button secondary" data-icon="connectdevelop">Policies</a>

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIRp51uGU1I74w1Nk9JvV%2Fuploads%2Fw2iQh8zDrbsbFN4oYXwA%2FThe_Role_of_a_TPA.mp4?alt=media&token=c31ea84c-3acd-44a8-979c-21008beb422c>" fullWidth="false" %}

***

## What is a Third Party Assurer (TPA)

Third-Party Assurers (TPAs) play a critical role in strengthening trust, transparency, and delivery quality across Intersect Administered projects.

As a TPA, you act as an independent verifier, confirming that milestones are not only complete, but delivered to the standard agreed in the proposal and signed contract. Your work ensures that Cardano Treasury funds are released based on evidence, quality, and accountability.

## What You Do

* Provide independent verification of milestone completion
* Assess whether deliverables meet agreed acceptance criteria
* Confirm quality and completeness, not just activity
* Produce clear and unbiased reports for the community

## Why It Matters

Your role helps to:

* Protect Treasury funds
* Increase transparency for the community
* Strengthen confidence in funded projects
* Ensure consistent delivery standards<br>

***

## View Your Responsibilities

See what’s expected of you as a Third‑Party Assurer\
\ <a href="/pages/jsHPlzbVpkV7hQzs3bDu" class="button secondary">Read Responsibilities</a>

## Reviewing Milestones

See what’s expected of you as a Third‑Party Assurer\
\ <a href="/pages/jsHPlzbVpkV7hQzs3bDu" class="button secondary">Read Responsibilities</a>

***

## Third Party Assurer Process

The milestone verification process ensures that each vendor’s completed work is accurate, complete, and aligned with the commitments made in their project plan. As a Third‑Party Assurer, your independent review is a key part of maintaining accountability across the ecosystem.&#x20;

These three steps give you a clear, start‑to‑finish view of how milestone reviews works and what you’re responsible for at each stage.

<details>

<summary><img src="/files/9iZfhkcTcvVfFRSC1URI" alt="">    <strong>Agreement to be a Third Party Assurer</strong></summary>

### Agreement to be a Third Party Assurer

You may be nominated by a Vendor to act as a Third Party Assurer (TPA) for their project. Before accepting, make sure you meet all the requirements for the role. While your responsibilities should align with Intersect’s TPA policy, your working relationship will remain directly between you and the Vendor.

Intersect will confirm with the Vendor if their chosen TPA is appropriate.\
\ <a href="/pages/jsHPlzbVpkV7hQzs3bDu" class="button primary">TPA Responsibilities</a><br>

</details>

<details>

<summary><img src="/files/qrAyfBPJFfTcvSn3es8K" alt="" data-size="original"> <strong>Milestone Review &#x26; Assessment</strong></summary>

### Provide an Independent Assessment

Once confirmed as a TPA, your role is to independently review vendor milestones. You’ll assess submitted evidence against the agreed requirements, request clarification if needed, and provide a clear, unbiased judgement on whether the milestone has been successfully completed.\
\ <a href="/pages/e5z4UUyID2SoCYOUq8Qi" class="button primary">How to Review a Milestone</a>

</details>

<details>

<summary><img src="/files/PvgfHzAXbWvkdUMxd5fg" alt="" data-size="original">  <strong>Final Review &#x26; Approval</strong>   </summary>

### Final Review & Approval

Once your assessment is submitted, the Delivery Assurance team conducts a final review to ensure everything is complete and consistent. If both your review and the DA team’s checks confirm that the milestone meets the required standard, the milestone is approved.&#x20;

The vendor’s payment is then released and approved milestones are made public. This supports transparency and helps everyone follow project progress across the ecosystem.\
\ <a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619?projectState=Active" class="button primary">Treasury Dashboard</a>

</details>

***

## Assurer Guides

{% columns %}
{% column width="33.33333333333333%" valign="middle" %}

<figure><img src="/files/ozoxLEJ0tepYgjCnnvBp" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

### Assurer Responsibilities

Learn the core duties of a Third‑Party Assurer and how you support transparent project delivery.&#x20;

<a href="/pages/jsHPlzbVpkV7hQzs3bDu" class="button primary">Read More</a>
{% endcolumn %}
{% endcolumns %}

***

{% columns %}
{% column width="33.33333333333333%" valign="middle" %}

<figure><img src="/files/x8ZdziHMAiAUJPmCgxPK" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

### Validating Milestones

Understand how to review milestone evidence and confirm whether requirements have been met.&#x20;

<a href="/pages/e5z4UUyID2SoCYOUq8Qi" class="button primary">Read More</a>
{% endcolumn %}
{% endcolumns %}


# Third Party Assurer Responsibilities

## Eligibility & Independence

To act as a Third-Party Assurer (TPA), you must meet the following criteria:

**Independent from the delivery team**

* You must be genuinely independent of the delivery team, from a different company, and independent of any key stakeholders with vested interests.
* Relevant expertise
* Have the necessary expertise relevant to the deliverable being assessed.
* No committee conflicts
* You are independent of an Intersect Committee.

All TPAs will first be reviewed by the Intersect Delivery Assurance team to ensure these standards are met. Intersect reserves the right to veto a TPA, if they believe that they do not meet the above criteria.&#x20;

{% hint style="info" icon="circle-exclamation" %}

#### **NOTE**

A TPA does not need to remain the same throughout a contract. Vendors may select different assurers for different milestones to ensure the right expertise is applied at each stage.
{% endhint %}

## Working Relationship

While your role serves the community, your working relationship is with the vendor.

### Vendor Responsibilities

* Select and engage the TPA
* Provide all required evidence
* Include TPA costs in the proposal budget

### TPA Responsibilities

* Deliver an independent, unbiased assessment
* Provide clear, evidence-based feedback

### Intersect Responsibilities

* Validate TPA independence and suitability
* Review attestations as part of delivery assurance

{% hint style="info" %}

#### **NOTE**

Intersect does not manage contracts or payment arrangements between vendors and TPAs
{% endhint %}

### Professional Expectations

As a TPA, you are expected to:

* Act with objectivity and integrity
* Base your assessment on evidence, not assumption
* Provide clear and constructive feedback
* Maintain professional distance from the vendor

{% hint style="info" icon="circle-exclamation" %}

#### **NOTE**

It is the responsibility of vendor to inform a Third Party Assurer that they have been nominated  for this role. If you have been selected as a Third Party Assurer and do not think this is appropriate, please contact the vendor to decline the nomination.
{% endhint %}


# Reviewing Milestones

## Third Party Assurer (TPA) Verification Checklist

You can use this checklist as a final sense-check before submitting your Third Party Assurer Comments.

### Pre-assessment:

Before reviewing any deliverables, confirm the following:

* [ ] **Independence confirmed**\
  I have no financial, personal, or professional ties to the vendor or outcome of this milestone.
* [ ] **Right expertise**\
  I have the appropriate knowledge to assess this specific deliverable.
* [ ] **Proposal reviewed**\
  I have read the original proposal and understand the milestone acceptance criteria and deliverables in the signed contract.&#x20;
* [ ] **Scope is clear**\
  I know exactly what “complete” looks like for this milestone.

### Assessment: Evidence & Quality

When reviewing the milestone, validate both completion and quality:

* [ ] **Evidence provided**\
  The vendor has supplied clear, tangible proof (e.g. documentation, code, data, outputs).
* [ ] **Evidence is sufficient**\
  The materials provided are enough to confidently verify completion.
* [ ] **Matches the proposal**\
  The deliverable aligns with what was originally promised.
* [ ] **Quality standard met**\
  The output meets expected technical or professional standards (not just minimum effort).
* [ ] **Clarity & transparency**\
  Outputs are understandable, even for non-technical stakeholders where relevant.
* [ ] **No major gaps or risks**\
  Any issues, inconsistencies, or red flags have been identified.

### Final Attestation: Reporting

Before submitting your review, ensure your output is clear and actionable:

* [ ] **Clear outcome provided**\
  I have given a definitive result (e.g. Pass / Fail / Conditional).
* [ ] **Justification included**\
  My decision is supported by specific, evidence-based reasoning.
* [ ] **Actionable feedback (if needed)**\
  If not approved, I have clearly outlined what needs to be addressed.
* [ ] **Objective tone maintained**\
  My report is factual, unbiased, and free from personal opinion.

When reviewing your Vendor's milestones, consider the type of review that may be required. Here is an example of an assessment completed by an Independent Third Party for our Smart Contracts - <https://github.com/SundaeSwap-finance/treasury-contracts/tree/main/audits>

{% hint style="info" %}
Any documentation associated to the review may be requested to be made public at any point.
{% endhint %}

### Final Sense Check

Before submitting, ask yourself:

> **“Would someone outside this project feel confident that funds were well spent based on my review?”**

* ***Yes*** — the assessment is clear, evidence-based, and trustworthy
* ***No*** — further review or clarification is needed

{% hint style="info" %}

#### Key Reminder

You are the independent control in the process.

Your role is not to support delivery; it is to verify it objectively. If evidence is unclear or quality is not met, it is your responsibility to reflect that in your comments.

We want to ensure Treasury funds are being spent in line with the agreed contract.
{% endhint %}


# How To - Apply for Vendor Funding

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<figure><img src="/files/91Oqpi4AmfX64BMHCFKA" alt="" width="260"><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="75%" valign="middle" %}

### Guide Overview

If you're a vendor looking to contribute to the Cardano ecosystem, Intersect Committees regularly open funding opportunities for specific projects, research, and ecosystem needs.\
\
This guide walks you through the full process from finding the right opportunity to submitting your proposal and completing the final steps if selected.
{% endcolumn %}
{% endcolumns %}

***

#### **1. Find the Right Funding Opportunity**

Intersect Committees publish all open funding opportunities on their dedicated pages. Each opportunity includes its own scope, requirements, and evaluation criteria, so it’s important to review the details carefully before applying. These pages also include the application link you’ll need when you’re ready to submit.

#### **2. Review Eligibility Before You Apply**

Before submitting a proposal, make sure you fully understand the eligibility criteria for that specific opportunity. Requirements may vary depending on the committee, project type, or expected deliverables. Taking time to review this upfront helps ensure your proposal is complete and aligned with expectations.

#### **3. Submit Your Proposal Before the Deadline**

Each funding opportunity has a clear submission deadline. Proposals must be submitted through the application link provided on the committee’s “Request for Funding” page. Late submissions cannot be considered, so plan ahead and allow time to prepare your materials.

#### **4. Committee Review & Selection Process**

Once submitted, your proposal will be reviewed by the relevant Intersect Committee. They evaluate all submissions and identify preferred candidates based on the criteria outlined in the funding call. Intersect’s operational services team supports this process to ensure fairness and consistency.

#### **5. Final Approval & Executive Sign‑Off**

All committee decisions go through a formal review and ratification process. The Intersect commissioning committee reviews the recommendations, and final approval is provided by the Intersect approving executive. This ensures every funding decision is transparent, accountable, and aligned with governance standards.

#### **6. Notification & Next Steps for Selected Vendors**

All applicants will be notified of the outcome using the contact email provided in their submission. If you are selected as a preferred candidate, the Intersect Procurement team will reach out to begin the next steps. This includes completing KYC/KYB checks and finalizing contract details before work can begin.

***

<h3 align="center">Need Templates or Supporting Documents?</h3>

{% columns fullWidth="true" %}
{% column width="41.66666666666667%" %}

<figure><img src="/files/xs83OhxN2L6r8sM2B03W" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="58.33333333333333%" valign="middle" %}
Find proposal templates, guidance documents, and downloadable resources to support your submission.

<a href="/pages/CvfnEUjQR4xKXogPgv67" class="button secondary">Visit the Resources Page</a>   <a href="/pages/6ISsRyVdsEdxmqiIe0bI" class="button primary">Visit the Vendor Hub</a>

{% endcolumn %}
{% endcolumns %}

***


# Reports

This page hosts all reports produced by Intersect's Delivery Assurance team, covering monthly progress updates and more.

<details>

<summary><strong>May Report</strong> </summary>

{% embed url="<https://docs.google.com/presentation/d/e/2PACX-1vQjlvYGoK4HzmGqVPkloDtHrhKVIu-R284IN8f9w2hugKOZs6xPupRaZ23EYhMRnmEE1JNlZFDJFvuz/pub?delayms=3000&loop=false&start=false>" %}

{% file src="/files/dL1Ogs72oxalVqC3BVh6" %}

</details>

<details>

<summary><strong>Mid Year Report</strong></summary>

{% file src="/files/mJjxQ7grE991aW7wfa6L" %}

</details>

<details>

<summary><strong>April Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/e/2PACX-1vSOQqK6hEB54gnsprahu7Ob_KAkKmQSLkGgykyMrZ29yKmJKUqZHKjA435DFlWIX2I83-jthP6fL1Kq/pub?delayms=3000&loop=false&start=false>" %}

{% file src="/files/quMxTx677LHDFSaua2bX" %}

</details>

<details>

<summary><strong>March Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1LDxjTd1OP1SURmeB_YOmjpl9ZssP9ZQ2hFi0ip5MSsg/edit?slide=id.g38c1784de3f_0_3#slide=id.g38c1784de3f_0_3>" %}

{% file src="/files/JjjGtdxNMunbqhpLNGK6" %}

</details>

<details>

<summary><strong>February Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1N9aRIUsvfnWCeHyeoFpY-yWqSmdX6mfDX6LNnoYSptg/edit?usp=sharing>" %}

{% file src="/files/4z19n26iMl5RHjiOpxcQ" %}

</details>

<details>

<summary><strong>January Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1Yg5Ys3m2wix8Si1H0stakb7SijQCCH9HkCNfCEsKhUo/edit?usp=sharing>" %}

{% file src="/files/s5daSif5smSIjgLoO80o" %}

</details>

<details>

<summary><strong>December Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1UeIZpqrtR8HxkU0SMcOMDx0-KR7NJyaSes9wPt0dEh4/edit?usp=sharing>" %}

{% file src="/files/2hcX8BWKIKBCidWN8f7x" %}

</details>

<details>

<summary><strong>November Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1SWEgDcTdaO_VMkt9JZxFKbStsMD1W29Kme1HIMEeCc0/edit?usp=sharing>" %}

{% file src="/files/dYgAvgp7orXtW5tIDNZh" %}

</details>

<details>

<summary><strong>October Report</strong></summary>

{% embed url="<https://docs.google.com/presentation/d/1KN17WZ9GgsJ6gTaSHu7GU_X019tfjyy5fr5QOQUPhBo/edit?usp=sharing>" %}

{% file src="/files/2CrGgrDlXxoVVArSgdv2" %}

</details>


# News & Updates

On this page you will find updates across the Administration services covering; new improvements and major updates.

{% updates format="full" %}
{% update date="2026-06-01" %}

## June

### 2026 Policy Update: Intersect Administration Services

Throughout 2025, a foundational set of policies were established to govern how Intersect delivers administration services to Vendors and the broader community. Building on that foundation, we have now published updated versions of several existing policies alongside a set of brand new policies - reflecting lessons learned, community feedback, and the evolving needs of the ecosystem.

We ask all Vendors and community members engaging with Intersect Administration Services to familiarise themselves with the relevant documents to help navigate their contractual journeys.

**New Policies**

The following [policies](https://admin-services.docs.intersectmbo.org/governance/policies-and-guidance) are newly introduced for 2026:

* Administration Anti-Fraud and Financial Integrity Policy
* Dispute and Escalation Policy
* Third Party Assurance Policy
* Vendor Change Request Policy

**Updated Policies**

The following policies have been revised from their 2025 versions. Each document includes a change log appendix that clearly sets out what has changed compared to the previous version - we encourage you to refer to that section for a concise summary of updates:

**Technical Review Policy**

* Policy scope broadened to cover any deliverable or change with the potential to be deployed on mainnet, not just those affecting core code responsibilities
* The Technical Audit definition has been substantially strengthened - auditors must now be explicitly independent from the Beneficiary and their work must align with DRep-approved contract milestones
* The table is now fully populated with specific acceptable and unacceptable criteria for four delivery scenarios: minor code updates, ledger feature releases, full node releases, and DApp releases
* Vendors now have an explicit obligation to publish findings, not just disclose them, and community sharing requirements now extend to reviews and audits in addition to test results

**Delivery Assurance Policy**

* Third-party assurance requirements have been tightened: beneficiaries must now name a specific, independent assurer for every milestone - designating 'The Community' or substituting public evidence (e.g. videos, X-posts) in place of a named assurer is no longer permitted
* Appendix A (milestone examples and MAF completion guide) has been removed from the policy document and relocated to the Knowledge Base
  {% endupdate %}

{% update date="2026-05-27" %}

## May

### Updates to the Smart Contract Dashboard

We are currently making a series of updates to the functionality and usability of the [Smart Contract Dashboard](https://treasury.sundae.fi/budgets/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619). You may see some new features as part of these updates which will be implemented for the 2026 funding cycle, such as; milestone evidence review status as well as the audit trail of milestone evidence, summary of contract statuses' and visual timelines. All of these changes have been implemented as part of feedback received by Vendors, community members and Intersect.&#x20;

We hope you love it, but if you have any questions in the meantime - please reach out to us or make a suggestion using this [form](https://admin-services.docs.intersectmbo.org/resources/share-your-feedback).

### IOE Acropolis Project Closure - Returning Funds to Treasury

Following IOG's announcement of the cancellation of the [Acropolis project](https://www.iog.io/news/change-of-course-acropolis-tiered-pricing), Intersect has now successfully completed the cancellation of the outstanding milestones within the smart contract.

This cancellation has seen a total of 1,448,574 ada successfully returned to the treasury.&#x20;

### Third Party Assurer Update

For the 2026 Budget Cycle, Third Party Assurers (TPA) will now be budgeted for within the vendor's proposal. As such, it is expected that the TPA will review every single milestone that they are responsible for, and when requested, the vendor will make the review (i.e. Audit Report) public.&#x20;

This will take effect from 1st May 2026.
{% endupdate %}

{% update date="2026-04-17" %}

## April

### Builder DAO - Returning Funds to Treasury

Intersect is pleased to report that with the conclusion of its latest Cardano Builder DAO funding round, Rainfire DAO has fulfilled its commitments to DReps and the Code of Conduct, returning unused funds to the Cardano treasury.

Remaining unspent funds of ​354,790 ada were successfully returned to the Cardano treasury with the assistance of the Intersect team.  Evidence of the transaction can be seen [here via the Adastat platform.<br>](https://adastat.net/transactions/dfcf57c8c65c50bb208106db91b2db38c4a7512f9fbf100f9f5e1f6301ceb8fc)A massive thank you to Logan and the Builder DAO team for honouring their commitment.
{% endupdate %}

{% update date="2026-03-31" %}

## March

This month Intersect's Administration Services have introduced an Administration fee for any vendor who wishes to select Intersect as their Administrator. You can read the full details here - <https://www.intersectmbo.org/news/intersect-administration-service-2026>
{% endupdate %}

{% update date="2026-02-28" %}

## February

As part of our ongoing commitment to transparency, accountability, and continuous improvement, the Delivery Assurance team has introduced a new [feedback form](https://docs.google.com/forms/d/e/1FAIpQLSeJDgGi1ktfvMqRX5Mp8CzR2SHcJucNDnQL0eADEWS4FnjWAg/viewform) for Intersect’s Administration Services. Whether you’re a community member, vendor, or DRep, your experience matters to us.&#x20;

Your input helps us refine our processes, strengthen support, and ensure our services evolve alongside the needs of the ecosystem. If you’ve interacted with Administration Services, we’d really value a few minutes of your time.
{% endupdate %}

{% update date="2026-01-31" %}

## January

This month, Intersect published a detailed update outlining how administration works in practice, what Intersect does and does not do, the tooling and data available today, and the improvements being introduced at the six-month mark, including milestone spot-check audits, smart contract and dashboard enhancements, a new public API, and the upcoming DRep Resource Pack. Read the full update here - <https://x.com/IntersectMBO/status/2017236964722753882?s=20>

{% endupdate %}
{% endupdates %}

***

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<figure><img src="/files/Pa3NEzKYBfvzkZSG8Fjw" alt=""><figcaption></figcaption></figure>
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{% column width="66.66666666666667%" valign="middle" %}

### More About Intersect Administrative Services

<a href="/pages/J2SvYMW1PLRgpmh2XQum" class="button secondary">Go To Administrative Services</a>    <a href="/pages/PMcuXcLAzAjOWmILZlgm" class="button secondary">Navigate To Hubs</a>
{% endcolumn %}
{% endcolumns %}


# Intersect Administered Contracts 2025/2026

{% hint style="info" %}
You can review submitted progress reports via our smart contract dashboard [**here**](https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619?projectState=Active)**.**&#x20;
{% endhint %}

This page covers all the current vendor contracts that were administered by Intersect from August 2025 - March 2026. You can click in the links to view contracts, change requests and view progress on the dashboard.&#x20;

<table data-full-width="true"><thead><tr><th width="124">Vendor</th><th width="156">Contract Name</th><th width="400">Contract Description</th><th width="134">Contract Amount (ADA)</th></tr></thead><tbody><tr><td>Anzens Inc</td><td><a href="https://drive.google.com/file/d/1lDEcPuRZSbRX-LYJimuupK05j-d1RkBy/view?usp=sharing">Expanding Stablecoin / Cardano Native Asset Support / Fiat Ramps</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0009-25">Link to dashboard</a></td><td><p>This vendor seeks funding to:</p><ol><li>Drive real-world utility for USDA in cross-border payments, remittances, and enterprise settlements.</li><li>Expand wallet and custodian support for Cardano native assets (including USDA, a Cardano-native stablecoin).</li><li>Increase the availability of Cardano stablecoins and native assets on exchanges and OTC desks.</li><li>Build cost-effective fiat on/off-ramps for ada and Cardano native assets in frontier markets.</li></ol><p>By solving these problems, the vendor aims to enhance liquidity, accessibility, and adoption of Cardano’s DeFi ecosystem while bridging the gap between traditional finance and blockchain-based payments.</p></td><td>4,000,000</td></tr><tr><td>BLOXBEAN PTE.</td><td><a href="https://drive.google.com/file/d/1v0bWeNYWnH9j8DdNvKO63hbiNDVBH2Or/view?usp=sharing">Java Tools Maintenance and Enhancement</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0019-25">Link to dashboard</a></td><td><p>BloxBean provides several essential Java libraries and tools for building applications on Cardano. These tools—CCL, Yaci, Yaci Store, and Yaci DevKit—require continuous maintenance and feature updates to meet the evolving needs of the Cardano ecosystem.<br></p><p>Under this Agreement, funding is allocated to support the addition of one full-time developer for a period of 12 months. The developer will focus on the following areas:<br></p><ol><li>Ongoing Maintenance</li><li>Feature Enhancements</li><li>Documentation and Developer Tools</li><li>Community Engagement &#x26; Support</li></ol></td><td>99,600</td></tr><tr><td>Cardano Foundation</td><td><a href="https://drive.google.com/file/d/1lfvlKmxnzxJi4ij4O96T49ShI9yeDd_0/view?usp=sharing">Cardano Summit 2025 and regional tech events</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0002-25">Link to dashboard</a></td><td><p>Subject to timely receipt of the Fees, the Vendor shall host a two day flagship Cardano summit and shall contract with various event organizers for the organization of regional Cardano events over several months.</p><p></p><p><a href="https://drive.google.com/drive/u/0/folders/1dsGlK03DqSIN9zhI5wUvKXGbkvUy4Nfc"><em><strong>Milestone Acceptance Form</strong></em></a> <em><strong>submitted 2nd April 2026 for Milestone 3</strong></em></p></td><td>6,000,000</td></tr><tr><td>Cardano Foundation</td><td><a href="https://drive.google.com/file/d/1rvTFLscZ6HJQBw8DYSRaNTOSj7f-cWKJ/view?usp=sharing">Unveiling the First Unified Global Events Marketing Strategy for<br>Cardano</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0003-25">Link to dashboard</a></td><td>To revitalize Cardano's global presence and foster ecosystem growth, we aim to sponsor, host and participate in a dynamic series of events and side events in 2025 and 2026. These events will target diverse audiences, including developers, enterprises, blockchain enthusiasts, and policymakers, to drive engagement, innovation, and adoption.</td><td>6,000,000</td></tr><tr><td>Catalyst FC</td><td><a href="https://drive.google.com/file/d/1tAL680o2lQiXuXlkeixuGp3Lm8LPgBMV/view?usp=drive_link">Catalyst 2025 Proposal by Input Output: Advancing Decentralised<br>Community Innovation Funding &#x26; Infrastructure</a></td><td><p>The Vendor will run a grants program known as Project Catalyst, which includes inviting interested parties to submit proposals as part of three funding rounds (Fund 14, Fund 15, and Fund 16). The Vendor, through its appointed administrator, will provide a platform to support the program, manage its operations and carry out all necessary activities to ensure the effective execution of the program—from fund launch through to project reporting. </p><p></p><p><a href="https://drive.google.com/file/d/1aLF6c_rAU3gDP5hoN801hoZsyo_Jvvpo/view"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 20th May 2026 for Milestone 4 cancellation</strong></em></p></td><td>64,300,000</td></tr><tr><td>Cooperativa de Trabajo Eryx LTDA</td><td><a href="https://drive.google.com/file/d/1eAL3X-vaEGceL7p-TQQZLulTk8WT50Uu/view?usp=drive_link">ZK Bridge</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0017-25">Link to dashboard</a></td><td>This Vendor will build a ZK bridge for Cardano, which Vendor will deploy on the Cardano testnet. As part of this initiative, Vendor will define a communication protocol for the bridge, provide the full source code of the smart contracts on the Cardano side, and produce comprehensive technical documentation detailing the protocol between Cardano and any other isomorphic blockchain.</td><td>700,000</td></tr><tr><td>Dmytro Stashenko</td><td><a href="https://drive.google.com/file/d/1HLCg8S5qP4VDlgslYG6iDSDbwxkCeuUE/view?usp=drive_link">AdaStat.net Cardano blockchain explorer</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EG-0001-25">Link to dashboard</a></td><td>We propose to continue development and support of the AdaStat.net Cardano blockchain explorer for the next 24 months. Planned work includes performance optimizations, improvements to UX/UI, and new features related to Cardano’s evolving governance model and on-chain tooling.</td><td>212,000</td></tr><tr><td>FAIR IO</td><td><a href="https://drive.google.com/file/d/1ol4UYDxQ7LHPwru-fuKKyJSUPZkw5xlg/view?usp=drive_link">PyCardano</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/ER-0003-25">Link to dashboard</a></td><td>The PyCardano maintenance project, as outlined in the proposal, is structured as a year-long service level agreement. The core objective is to ensure the library's continuous reliability, compatibility with the evolving Cardano network, and ongoing support for the developer community.</td><td>314,800</td></tr><tr><td>Flowdesk</td><td><a href="https://drive.google.com/file/d/1KJ5qeG_cEKXZIBaMpROhyvXnpIUVCH3a/view?usp=sharing">Market Making as a service</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0006a-25&#x26;EMI-0006b-25">Link to dashboard</a></td><td><p>MMAAS (Market Making as a Service):</p><ul><li>Liquidity Enhancement: Ensure, on a best effort basis, three Cardano Native Tokens (CNTs) achieve deeper liquidity on Centralized Exchanges (CEXs) with a minimum trading volume of $5,000, and maintain price stability within ±2%. Additionally, facilitate arbitrage-free token swaps on Decentralized Exchanges (DEXs) to optimize trading efficiency.</li><li>Cardano Project Agreements: Secure, on a best effort basis, contracts with three Cardano-based projects, each a $7,000/month retainer for market-making services to support liquidity and price stability.</li></ul><p>This plan focuses on boosting liquidity, stabilizing prices, and expanding market presence for Cardano projects through strategic market-making and exchange listings.</p></td><td>126,000</td></tr><tr><td>Flowdesk</td><td><a href="https://drive.google.com/file/d/1Sa6dTK3qsahMnXdRagKKiEqQ5_ZLl_N3/view?usp=sharing">Ecosystem Exchange Listing</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0006a-25&#x26;EMI-0006b-25">Link to dashboard</a></td><td>Top-Tier Exchange Listings: Aim to list CNTs on leading CEXs as agreed by the Parties to increase visibility, accessibility, and trading volume for Cardano ecosystem tokens.</td><td>3,000,000</td></tr><tr><td>Go Maestro</td><td><a href="https://drive.google.com/file/d/11bbcymve0mXfldbFLONtNpA8D-pMa8nB/view?usp=sharing">Complete Web3 Developer Stack to make Cardano the smart contract layer for Bitcoin</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0012-25">Link to dashboard</a></td><td>Maestro shall deliver a comprehensive infrastructure solution that positions Cardano as Bitcoin’s primary smart contract and DeFi execution layer. Leveraging Maestro’s enterprise-grade UTXO infrastructure platform, this integration will bridge Bitcoin's<br>substantial liquidity and large user base directly into the Cardano ecosystem.</td><td>600,000</td></tr><tr><td>Harmonic Laboratories</td><td><a href="https://drive.google.com/file/d/1ht5CNh9J1hciJen_y_7bKuo-62KXnTkL/view?usp=drive_link">Gerolamo - Cardano Node in typescript</a></td><td>The scope of the project is to create a Cardano data node that can run in the browser. Cardano data node implies a subset of features of a full node, mainly the ability to follow the tip of the chain and update the local ledger state accordingly, while replaying to queries from the end user. The ability to have a data node in the browser minimizes the trust required to interact with the cardano blockchain from any app that uses it.</td><td>578,571</td></tr><tr><td>Informatik Mündler</td><td><a href="https://drive.google.com/file/d/1I7XNaLhNuNUpHi3I69F_U3gihT5TNgO0/view?usp=drive_link">OpShin - Python Smart Contracts for Cardano</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/ER-0002-25">Link to dashboard</a></td><td><p>OpShin is a toolchain that lets developers construct Cardano smart contracts in Python. The toolchain comprises several projects that aim to facilitate the development of Smart Contracts and dApps on Cardano. They are largely based on Python, or integrate well with it for maximal accessibility. On top of accessibility, OpShin ensures low transaction cost compared to PlutusTx.</p><p><br>OpShin enforces strict typing on the high-level programming: it implements a type system on top of Python type hints. However, all traces of typing are erased during compilation, for a maximum efficiency program. OpShin beats many programming languages when taken to the test for real use-cases.</p></td><td>199,911</td></tr><tr><td>Intersect MBO</td><td><a href="https://drive.google.com/file/d/1Cu_5tq3fvv8NXPEMGPhtF2kGWhVNKv82/view?usp=sharing">A member-based organization for the Cardano ecosystem-<br>Intersect</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EG-0002-25">Link to dashboard</a></td><td><p>Execute administrator role for proposals funded by Cardano treasury which requested<br>Intersect to act as Administrator</p><ul><li>Through our members and committees provide support for Cardano’s on-chain governance (for ADA Holders, DReps, SPOs and CC members)</li><li>Through our members and committees facilitate proposal creation for Cardano Vision, Roadmap, and Budget</li><li><p>Steward core infrastructure</p><ul><li>Maintain and govern the open-source Cardano node repositories, including the Haskell codebases</li><li>Coordinate and release upgrades proposed by ecosystem contributors, ensuring safe deployment, roadmap alignment, and stakeholder readiness</li><li>Provide stability and continuity across key engineering practices and upgrade cycles</li></ul></li><li><p>Provide easy participation via elected Committees and open working groups</p><ul><li>Professional Coordination and support for 8 committees and 30+ working groups</li><li>Provide members tooling to participate</li><li>Support the emergence of new institutions like MBOs or DAOs</li></ul></li></ul><p><a href="https://drive.google.com/file/d/1btBBM-GZOeiGPI1zM63WuJkVA1RIrU8U/view?usp=sharing"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 31st October 2025 for Milestones 2, 3 &#x26; 4. — Cancelled</strong></em></p></td><td>15,750,000</td></tr><tr><td>IOE</td><td><a href="https://drive.google.com/file/d/1B7JOGsD5xwefRmcZvAfEDTN8R79qWz1Z/view?usp=drive_link">2025 Input Output Engineering Core Development Proposal</a></td><td><p>The Vendor will provide comprehensive engineering, maintenance, and development services to enhance and secure the Cardano protocol and its core infrastructure. The services are focused on delivering the community-endorsed technical roadmap and maintaining network stability</p><p></p><p><a href="https://drive.google.com/file/d/1ovG8SY2QjehsdK-zzxdqx1kX-xV2VxZ1/view"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 5th March 2026 for Milestones 8.5, 8.7, 13.4, 14.6, 14.9, 15.1, 15.2, 15.3, 15.4 &#x26;15.5</strong></em></p><p><a href="https://drive.google.com/file/d/1EzT2C6FzaTN89aWHZRu1qPra8w4ATngm/view"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 20th May 2026 for Acropolis Milestones  10,11,12,13 &#x26; 14 — Cancelled</strong></em></p><p><a href="https://drive.google.com/file/d/1ovG8SY2QjehsdK-zzxdqx1kX-xV2VxZ1/view"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 20th May 2026 for Tiered Pricing Milestones  1,2,3,4 &#x26; 5 — Cancelled</strong></em></p></td><td>96,817,080</td></tr><tr><td>IOG</td><td><a href="https://drive.google.com/file/d/16oTMu2wQwd9YLAixJ6_p_2Pcipq2sj1G/view?usp=drive_link">Input Output Research (IOR): Cardano Vision - Work Program 2025</a></td><td>The Vendor will provide a strategic program of research and development designed to realize Cardano Vision and place Cardano at the forefront of blockchain innovation. The services are designed to deliver foundational research and technology validation workstreams up to SRL5, alongside communication and dissemination activities.<br><br><a href="https://drive.google.com/file/d/1yol-xQDdbFtebjpDRiy008A4cBDTRPRu/view?usp=sharing"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 16th September 2025 for Milestones 3 &#x26; 4.</strong></em></td><td>26,840,000</td></tr><tr><td>IOG</td><td><a href="https://drive.google.com/file/d/1sfQlkpoc6klODgdXN_ekm1U5V79pDZLV/view?usp=sharing">Beyond Minimum Viable Governance: Iteratively Improving on Cardano<br>Voltaire</a></td><td><p>This initiative will establish a robust framework for evaluating and enhancing Cardano's governance system. We will identify and benchmark key governance metrics to assess the health, performance, and overall impact of our decentralized decision-making processes.</p><p><br>The resulting 'State of Governance' report will provide a structured evaluation of participation, track vital Key Performance Indicators (KPIs), map the evolving governance ecosystem, and pinpoint specific areas for improvement.<br><br><a href="https://drive.google.com/file/d/1XiTTScyk01aG5UgJ_Qjrue3ZoCaczVR7/view?usp=sharing"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 5th September 2025 for Milestones 0-4.</strong></em><br><a href="https://drive.google.com/file/d/1uf5YeN6JsmuSkcTaFVTcMABDKtQg1rgo/view?usp=sharing"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 24th October 2025 for Milestones 1-4.</strong></em></p></td><td>592,780</td></tr><tr><td>IOG</td><td><a href="https://drive.google.com/file/d/1rkTrpxMo1SwgyTr-nWA_SkSQ5czc2ZXd/view?usp=drive_link">BlockFrost Platform community budget proposal</a></td><td>Blockfrost aims to decentralize its Cardano Blockchain API through the Blockfrost Platform and Blockfrost Gateway, enabling a network of Icebreakers operated by SPOs and node operators to process API requests and share revenue. All components are open-sourced to ensure transparency and avoid vendor lock-in.<br><br><a href="https://drive.google.com/file/d/1G6bDGtyw1O9q4rniTLnvN349SlYvdEWM/view?usp=drive_link"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 27th November 2025 for Milestone 6.</strong></em></td><td>1,300,000</td></tr><tr><td>IOG</td><td><a href="https://drive.google.com/file/d/1TOq_sV6LHS2pwgQjOOCE4OzfclTgroFG/view?usp=drive_link">Catalyst 2025 Proposal by Input Output: Advancing Decentralised<br>Community Innovation Funding &#x26; Infrastructure</a></td><td><p>The Vendor will provide design and development services to deliver a comprehensive technical upgrade to the Project Catalyst platform. These services are designed to overhaul both the user experiences and the underlying engine of the system. </p><p></p><p><a href="https://drive.google.com/file/d/1ELjvXg7tUHTkGlZvXF4w4OCsbpc8LTqx/view"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 20th May 2026 for Milestones 4 &#x26; 5.</strong></em></p></td><td>5,159,000</td></tr><tr><td>Lantr</td><td><a href="https://drive.google.com/file/d/1KdzW3z7zeJOJZb4cvOXEEIkJQEyKR9Bl/view?usp=sharing">Scalus DApps Development Platform</a></td><td><p>Scalus will deliver Scala 3 to the Cardano ecosystem, letting you write smart contracts, build transactions, and application layers - all with the same language and familiar tools. It supports the complete development flow - setup, development, testing, debugging and deployment, backed by an industry-grade toolset and professional development experience.</p><p><br>Scalus offers the following key benefits:</p><ul><li>Productivity boost at scale with Scala 3</li><li>Reduced time-to-market - from prototyping to production in less time</li><li>Deep pool of Scala/Java/Kotlin talent available on the market</li></ul></td><td>657,692</td></tr><tr><td>Midgard Labs</td><td><a href="https://drive.google.com/file/d/1dKDAvJL4VVaIIDzwesOji30TsAG7BOZi/view?usp=sharing">Midgard - Optimistic Rollups</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0001-25">Link to dashboard</a></td><td>Midgard is a modular framework for deploying optimistic rollup Layer 2s on the Cardano blockchain, designed to enhance transaction throughput, reduce costs, and enable advanced decentralized applications.</td><td>2,162,096</td></tr><tr><td>Midgard Labs</td><td><a href="https://drive.google.com/file/d/1IG0FYyemXkmh-Vdt1MWgCpvH0nKpWzeB/view?usp=sharing">Lucid Evolution Maintenance</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0008-25">Link to dashboard</a></td><td>Lucid Evolution is an open-source library designed to simplify and enhance the development of off-chain smart contract interactions on Cardano.<br><br>As the official maintainer of Lucid, Anastasia Labs is committed to evolving the library to align with the upcoming Chang Hard Fork, ensuring long-term support and usability for developers.</td><td>130,903</td></tr><tr><td>MLabs Ltd</td><td><a href="https://drive.google.com/file/d/1f_pL3EJz8JRrzZczzhSX831xR3llfX-W/view?usp=sharing">MLabs Core Tool Maintenance &#x26; Enhancement: Plutarch</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0022-25,EC-0015-25,ER-0005-25">Link to dashboard</a></td><td>MLabs LTD will provide continuous support including maintenance releases, bug fixes, and compatibility updates for Plutarch throughout the 12-month funding period. Future maintenance beyond this requires subsequent funding. MLabs LTD will ensure all supported tools remain compatible with up to two Cardano hardforks expected within the contract period.</td><td>243,478</td></tr><tr><td>MLabs Ltd</td><td><a href="https://drive.google.com/file/d/1waJ32iMcmInA4l4kiuIV-IWsvJfxUKad/view?usp=sharing">MLabs Core Tool Maintenance &#x26; Enhancement: Cardano.nix</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0022-25,EC-0015-25,ER-0005-25">Link to dashboard</a></td><td>MLabs LTD will perform the maintenance and enhancement of Cardano.nix, a foundational toolset for building and deploying Cardano infrastructure with Nix. This SoW will cover regular maintenance to ensure compatibility with Cardano node updates and the Nix ecosystem, bug fixes, and minor enhancements to improve the tooling based on community needs and developments in related areas like Nix Flakes. MLabs LTD will ensure all supported tools remain compatible with up to two Cardano hardforks expected within the contract period.</td><td>45,217</td></tr><tr><td>MLabs Ltd</td><td><a href="https://drive.google.com/file/d/1Kpf-Hnd7CiXiPRwhzkI9t1hMIQpCOMnc/view?usp=sharing">MLabs Research towards Tooling for Elliptical Curves -<br>GrumpleStiltSkin</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0022-25,EC-0015-25,ER-0005-25">Link to dashboard</a></td><td>The Grumplestiltskin project is an applied research effort focused on building experimental Plutarch tooling to support parameterized elliptic curve and Galois field operations, and exploring the feasibility of zero-knowledge proof (ZKP) verification on Cardano. The work is not guaranteed to result in production-ready deliverables but will culminate in public prototypes, technical reports, and documentation of findings.</td><td>104,347</td></tr><tr><td>NFTCDN LTD</td><td><a href="https://drive.google.com/file/d/1Im4KxgmLxjCA02uHzkGfsMoFlKFiG7j5/view?usp=sharing">A free Native Asset CDN for Cardano Developers</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0023-25">Link to dashboard</a></td><td>NFTCDN propose to deliver a free Native Asset Content Delivery Network (CDN) for Cardano, by making their existing NFTCDN services free to use for anyone building on Cardano. NFTCDN has been operating since 2022 and provides fast, reliable and resilient multimedia and metadata delivery through a globally distributed CDN, enabling projects to display native assets effortlessly.<br><br>By removing technical and financial barriers, NFTCDN allows developers to focus on product innovation and growth, accelerate time-to-market, and promote wider adoption and implementation of native assets within apps across the Cardano ecosystem.</td><td>605,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/1odv1ljWuvINY_37dHxV4SIVJQ40zjSm_/view?usp=sharing">Bug Bounty Program</a></td><td><p>Bug Bounty Program - The goal is to Launch responsible vulnerability reporting, reward critical disclosures, and patch bugs. Funds will sit<br>in a treasury reserve fund and only be allocated based on approved allocations by incident reporting demand, if no issues are reported, all funds will not be utilized and returned to treasury. </p><p></p><p><a href="https://drive.google.com/file/d/1Sskzx27UQGMc1YGN2S-wSdYkcjiqii4I/view?usp=sharing"><em><strong>Change Request</strong></em></a> <em><strong>submitted on 1st December 2025 for Milestones 4.2 &#x26; 4.3</strong></em></p></td><td>600,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/1N4V1dPOYIWJOZmaqGsmvtvJcP8J0W_s5/view?usp=drive_link">Developer Advocates Program</a></td><td>Developer Advocate Program - The goal is to fund individuals to build reputation, visibility, and adoption for Cardano OS projects.</td><td>160,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/11U88F9HvFJC9LW_cMgJryE9Y1iSBK-cB/view?usp=sharing">Maintainer Retainer Program</a></td><td><p>Maintainer Retainer Program - the goal is to enhance the maintainership of 25 core ecosystem projects with 50 individuals (maintainers) ‘compensated’ (this is half commitment than what was originally submitted in the budget proposal due to Budget delays and matching 1 year commonly-accepted approach). Maintainers under this program will be primarily tasked with baseline maintainer tasks. Their role will be inclusive of:</p><ul><li>Reviewing any issue backlog</li><li>Creating a list of issues that are aged and should not be addressed</li><li>Tagging issues that can/should still be addressed</li><li>Reviewing documentation suggestions</li><li>Reviewing Security.md updates</li><li>Coordinating with current contracted maintainer teams to ensure that the merging PR’s falls within the accordant release management processes</li><li>And more that promotes better open source practice for their associated project</li></ul></td><td>1,800,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/1Dl6Z6kAfTNX5HHnKGaEy6sv6Z8VOLtSO/view?usp=sharing">Travel Budget</a></td><td><p>Open Source Committee Travel Budget - The goal is to enable OSC members to represent Cardano open source initiatives at global events, conferences, and partner summits, delivering public value back to the ecosystem</p><p></p><p><a href="https://drive.google.com/file/d/135I_O_3B1r7h6rfHsE9KFLQ1KOYbFfRg/view?pli=1"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 10th March 2026 for Milestones 10.5 and 10.6.</strong></em></p></td><td>250,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/13I8X0BGpTk-JrLx4-YRwEiCiY_aSJ93s/view?usp=sharing">Security Incident Management Program</a></td><td>Security Incident Management Program - The goal is to establish a responsive, reliable security incident coordination capability for Cardano open source projects by hiring one dedicated support staff and implementing foundational security tooling.</td><td>175,000</td></tr><tr><td>Open Source Committee</td><td><a href="https://drive.google.com/file/d/1rRtHEUvBBQvItLWFxkKqZM2r3OwI65Hs/view?usp=sharing">Tooling Sustainability Program</a></td><td><p>Tooling Sustainability Program - The goal is to sustain and improve critical Cardano developer tooling by funding scoped maintenance and feature work across multiple projects.</p><p>Tooling needed for Open Source Office and Open Source Committee delivery of this initiative, as required to achieve budget milestones will also be considered.<br><br><a href="https://drive.google.com/file/d/1WSajun5IsdVldcE7POUe6KUwDzP9wnOZ/view?usp=sharing"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 5th December 2025 for Milestones 2.2, 2.3 &#x26; 2.4</strong></em></p></td><td>2,000,000</td></tr><tr><td>Product Committee</td><td><a href="https://drive.google.com/file/d/1GaPfU0wQ-mJEGHdZLUvMali70ioYJGXO/view?usp=sharing">Product Research</a></td><td><p>The first consolidated product research effort for Cardano: this project aims to deliver an initial simple process, a strategy to answer and expand the questions documented above, and a set of structured research initiatives opportunities to be allocated with funding to<br>product researchers in Cardano. These will deliver:</p><ul><li>Research initiatives based on the initial research questions outlined to be allocated via an open and transparent tender process</li><li>A scalable and open framework to consolidate the Insights collected documenting them in a public repo for broader community consumption</li><li>Key insights socialised and used to inform the 2030 Cardano Vision draft proposal and 2026 roadmap proposal</li></ul></td><td>400,000</td></tr><tr><td>Product Committee</td><td><a href="https://drive.google.com/file/d/1JfxNg1aVGdiRzCEGNuExHQWewfCFcHmx/view?usp=sharing">Local Gatherings</a></td><td><p>Concerning community consultation for the 2030 Vision creation process, this project aims to deliver rich and diverse documented input and insights from the broader Cardano community to support the drafting of the first community-driven long-term vision for Cardano, as well as through critique and feedback for the future draft proposal for the 2030 Cardano vision.<br><br>Expected deliverables:</p><ul><li>Up to 100 local gatherings supported</li><li>Documented insights from local gatherings, business calls and workshops</li><li>Documented feedback and critiques of the 2030 vision proposal which will be based on the insights</li><li>Overall community engagement and support for the future 5-year vision</li></ul><p><a href="https://drive.google.com/file/d/1G6bDGtyw1O9q4rniTLnvN349SlYvdEWM/view?usp=drive_link"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 20th May 2026 for Milestones 12,13, &#x26; 14.</strong></em></p></td><td>350,000</td></tr><tr><td>Rainfire DAO LLC</td><td><a href="https://drive.google.com/file/d/14w_lvNVZJpB385NNz19y5FqQVSXGl8Se/view?usp=sharing">Cardano Builder DAO</a><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0004-25">Link to dashboard</a></td><td>The Cardano Builder DAO (CB DAO) is a smart contract-enforced, member-governed funding mechanism created to support the application-layer growth of the Cardano ecosystem. Its core purpose is to provide sustainable financial backing and strategic oversight to high-impact projects that are directly responsible for existing user adoption, on-chain activity, Total Value Locked (TVL), and ecosystem engagement.<br><br><a href="https://drive.google.com/file/d/10woP4ufjcZ2a3naeCdfaGfNZ7UbZZ5JK/view?usp=sharing"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 27th August 2025 for Milestones 2, 3 &#x26; 4.</strong></em></td><td>12,000,000</td></tr><tr><td>Snek Foundation </td><td><p><a href="https://drive.google.com/file/d/1sV78gzfNhxWUcx1nJimnXTC2Kg3SK-WW/view?usp=drive_link">Snek Loan Agreement</a></p><p></p><p><a href="https://drive.google.com/file/d/1hv_xHfAC5R0c6WBt-Ksrf6re8Nm-bbPN/view?usp=drive_link">₳5M Loan for Cardano's Global Listing Expansion - Powered by Snek</a><br><br>Link to bridging <a href="https://drive.google.com/file/d/1yh5Zf3Tj7dBkE0sdWUcS9Df1yYFTe8fo/view?usp=sharing">constitutional notes</a> for contract creation</p></td><td>This proposal requests a 5 million ada repayable loan from the Cardano Treasury to fund the Cardano Global Listing Expansion, led by the Snek Foundation to secure additional Tier 1 exchange listings and strengthen ADA and CNT visibility. SNEK is the most adopted Cardano native token and has already self-funded major listings. The loan will support listings, liquidity, legal work, and coordinated campaigns, with repayments drawn from Snek ecosystem revenues and verified through audit. Intersect will administer the loan through the treasury contracts framework, with guidance from a Board of Advisors to ensure alignment with Cardano’s broader ecosystem goals.</td><td>5,000,000</td></tr><tr><td>Supplyoneers</td><td><a href="https://drive.google.com/file/d/1RNDZxjcXyX8tBEH4eUuKRl3WxjIIVo9r/view?usp=sharing">Cardano Ecosystem Pavilions at Exhibitions</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EMI-0007-25">Link to dashboard</a></td><td>This vendor will be booking event spaces and organising the bespoke building of Pavilion stands, the funding will massively but not completely subsidise the cost for Projects in the ecosystem to have a presence at 6 exhibitions around the world .<br><br>They will be providing support staff at the event, organise pre and post event activities to help projects learn how to make the most of these events. Some of the funding will be used to help part subsidise travel costs for Projects too.<br><br><a href="https://drive.google.com/file/d/14z1921l99kQCmyppZ8_vjPx0byil0DmO/view?usp=sharing"><em><strong>Change Request</strong></em> </a><em><strong>submitted on 2nd October 2025 for Milestones 2 &#x26; 3.</strong></em></td><td>889,500</td></tr><tr><td>Tastenkunst GmbH</td><td><a href="https://drive.google.com/file/d/1PI3SgPFH3AA1A5fe_5S0rw4RVOZmxj2W/view?usp=sharing">Eternl Maintenance</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0018-25">Link to dashboard</a></td><td>Eternl has been a reliable and community-driven Cardano wallet since its launch in 2021 . It offers a secure, feature-rich experience across web, browser extension, iOS, and Android platforms, serving both everyday users and developers. Maintaining Eternl requires €30,000 per month.<br><br>This agreement enables the vendor to sustain these operational costs, ensuring Eternl continues to provide reliable access to the Cardano blockchain for the community.</td><td>583,000</td></tr><tr><td>Tweag</td><td><a href="https://drive.google.com/file/d/1vytIb8c4RWpXMg4UMuRMnkBuihAJVHNi/view?usp=sharing">TWEAG’s Proposals for multiple core budget projects for</a></td><td><p>Tweag by Modus Create proposes a comprehensive suite of infrastructure services aimed at strengthening the foundational layers of the Cardano blockchain. These services are centered on delivering innovative, high-impact enhancements to critical components of the Cardano technology stack.<br><br>By focusing on long-term utility and technical robustness, our goal is to support the ecosystem’s evolution through scalable, research-driven, and production-grade solutions.</p><p><br><strong>Change Request Form in progress and to be </strong><em><strong>submitted for SoW</strong></em></p></td><td>11,070,323</td></tr><tr><td>TxPipe LLC</td><td><a href="https://drive.google.com/file/d/1ZhjgN96JfSQz5KjgrDsRbVDXs2ODe6mM/view?usp=sharing">Dolos: Sustaining a Lightweight Cardano Data Node</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0006-25,EC-0007-25,EC-0010-25">Link to dashboard</a></td><td>This request for support focuses on Dolos (https://dolos.txpipe.io/), a lightweight Cardano data node, designed as a backend for dApps. It is fine-tuned to solve a very narrow scope: keeping an updated copy of the ledger and replying to queries from trusted clients. Unlike a full Cardano node, Dolos is optimized for minimal resource usage while maintaining high data integrity and responsiveness.<br><br>As an open-source project, Dolos has been steadily growing in adoption, with 366 commits, 367 pull requests, and contributions from 21 developers. It is becoming a key tool for projects seeking efficient blockchain data access without the overhead of full-node infrastructure. To ensure Dolos continues to evolve alongside Cardano’s ecosystem, we are requesting funding for the following roles: 0.5 FTE Blockchain Developer and 0.125 FTE Tech Lead.</td><td>220,914</td></tr><tr><td>TxPipe LLC</td><td><a href="https://drive.google.com/file/d/1KUTDZPQkPodGi0KhN7F2BYPnBqvX5at8/view?usp=sharing">Pallas: Sustaining Critical Rust Tooling for Cardano</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0006-25,EC-0007-25,EC-0010-25">Link to dashboard</a></td><td>This request for support focuses on Pallas (github.com/txpipe/pallas), a collection of Rust-native building blocks for the Cardano blockchain ecosystem. Pallas provides reusable components, such as cryptographic primitives and CBOR encoding, to enable the<br>development of higher-level use cases like explorers and wallets. The project remains open-source, and actively welcomes contributions from the broader Cardano developer community.<br><br>With 591 commits, over 430 pull requests, and 39 contributors, it stands as a strong example of open-source collaboration in the ecosystem. Pallas is being used by key projects in the ecosystem such as Aiken, Lucid, Mithril, Amaru, and many others. To ensure its continued evolution and maximize its impact, Pallas requires ongoing maintenance, updates, and new functionalities. We are requesting funding to secure the following roles assigned to the project: 0.5 FTE blockchain developer and 0.125 FTE tech lead.</td><td>220,914</td></tr><tr><td>TxPipe LLC</td><td><a href="https://drive.google.com/file/d/13P6fJajKNCD0c-0rGLSWTMizrRbBsUIT/view?usp=sharing">UTxO RPC: Sustaining Cardano Blockchain Integration</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0006-25,EC-0007-25,EC-0010-25">Link to dashboard</a></td><td>This request for support focuses on UTxO RPC (https://utxorpc.org), an interface specification designed to simplify interactions with UTxO-based blockchains. U5C defines standardized methods, data structures, and communication patterns.<br><br>By providing a range of SDKs, and offering thorough documentation, U5C enhances reusability, interoperability, and performance in blockchain integrations. Currently in its early stages, UTxO RPC is already being adopted by key projects in the Cardano ecosystem, including Lace, Mesh, Amaru, and many others. As an open-source initiative, it welcomes contributions from the community, fostering a collaborative approach to improving blockchain infrastructure. To support its ongoing development, maintenance, and enhancements, we are requesting funding for the following roles: 0.5 FTE blockchain developer and 0.125 FTE tech lead.</td><td>220,914</td></tr><tr><td>VacuumLabs<br>Bohemia</td><td><a href="https://drive.google.com/file/d/1kvzPA_Q5O57LfvKTVfI17xmgtQ-P7TvQ/view?usp=sharing">Hardware Wallets Maintenance</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0011-25%20EC-0005-25">Link to dashboard</a></td><td><ul><li>Update Ledger and Trezor firmware and integration libraries with new relevant Cardano features or breaking changes. Update also if there are any breaking changes in Ledger and Trezor core firmware code, testing suites, etc.</li><li>Update cardano-hw-cli to reflect firmware changes and to reflect user needs</li><li>Support Keystone developers while doing the changes above</li><li>Provide general cardano hw wallets maintenance, development support and bugfixing.</li><li>Order and manage external code audits for Ledger firmware code (Ledger requirement, has to be done by one of 2 certified auditors)</li></ul></td><td>424,800</td></tr><tr><td>VacuumLabs<br>Bohemia</td><td><a href="https://drive.google.com/file/d/1Q0sjteDmAy55XWJ8_X55GZZrjRTS8kYa/view?usp=sharing">Ledger App rewrite</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0011-25%20EC-0005-25">Link to dashboard</a></td><td>Work with the Ledger team to design a new architecture and UI for the Ledger Cardano app. The new Ledger app should be compatible with latest Ledger SDKs, libraries and testing suite. Implement and rewrite the whole application. Remove transaction streaming in order<br>to improve the user experience. Pass the external audit process. Support the Ledger team by the release process.<br><br><a href="https://drive.google.com/file/d/1agMsGr62-KQFV5OmF_Nfb8U_YJfjKWxx/view"><strong>Change Request Form</strong></a> <strong>submitted on 16th April for Milestone 4</strong></td><td>300,000</td></tr><tr><td>Vellum Labs</td><td><a href="https://drive.google.com/file/d/1aUDaJXsKyS4tDRin28VMYCgbHlqKledc/view?usp=drive_link">Developer-Focused Blockchain Explorer for Cardano</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0021-25">Link to dashboard</a></td><td>Cexplorer.io is already live and actively maintained by an experienced team of backend, frontend, and infrastructure developers. This proposal includes funding for ongoing maintenance, including server infrastructure, performance monitoring, bug fixes, and updates aligned with Cardano protocol changes. </td><td>266,667</td></tr><tr><td>zkFold SA</td><td><a href="https://drive.google.com/file/d/1XObgCGVjnvLBi-_okigZGha91SiGGe-9/view?usp=sharing">zkFold ZK Rollup - zkFold SA</a><br><br><a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619/project/EC-0009-25">Link to dashboard</a></td><td>zkFold will develop and implement ZK rollups on Cardano to scale it efficiently, promoting broader adoption and supporting an ecosystem of decentralized applications and services.</td><td>1,161,000</td></tr></tbody></table>


# Intersect Administered Contracts 2026

Make these expandable for each Vendor Project\*\*

<details>

<summary><strong>IOR Projects</strong></summary>

### **IOR Projects**

<table data-card-size="large" data-view="cards"><thead><tr><th>Project</th><th>Vendor Address</th><th>Budget</th><th>Matured Milestones</th><th>Stage</th></tr></thead><tbody><tr><td>IOR - Cardano Vision Work Program 2025</td><td>IOR</td><td>26,840,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Input Output Engineering Core Development Proposal (4of6)</td><td>Input Output...posal (4of6)</td><td>10,816,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (3of6)</td><td>Input Output...posal (3of6)</td><td>8,870,001 ADA</td><td>None</td><td>Paused</td></tr><tr><td>PyCardano - FAIR IO, LLC</td><td>addr1qyu57x0...x23aqsxjpdex</td><td>314,800 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Cardano Foundation - Unveiling the First Unified Global Events Marketing Strategy for Cardano</td><td>addr1qxkty7f...c9s8eqr6r3v3</td><td>6,000,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Cardano Foundation - Cardano Summit 2025 and regional tech events</td><td>addr1qxkty7f...c9s8eqr6r3v3</td><td>6,000,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Intersect MBO - A member-based organization for the Cardano ecosystem</td><td>addr1q9qk3n3...uvcmxsly0a5a</td><td>15,750,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>AdaStat.net Cardano blockchain explorer (2 of 2)</td><td>addr1qyjk85v...4am7squssllz</td><td>59,716 ADA</td><td>None</td><td>In Progress</td></tr><tr><td>AdaStat.net Cardano blockchain explorer (1 of 2)</td><td>addr1qyjk85v...4am7squssllz</td><td>152,284 ADA</td><td>None</td><td>Pending Approval</td></tr></tbody></table>

<table data-card-size="large" data-view="cards"><thead><tr><th>Project</th><th>Vendor Address</th><th>Budget</th><th>Matured Milestones</th><th>Stage</th></tr></thead><tbody><tr><td>IOR - Cardano Vision Work Program 2025</td><td>IOR</td><td>26,840,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Input Output Engineering Core Development Proposal (4of6)</td><td>Input Output...posal (4of6)</td><td>10,816,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (3of6)</td><td>Input Output...posal (3of6)</td><td>8,870,001 ADA</td><td>None</td><td>Paused</td></tr><tr><td>PyCardano - FAIR IO, LLC</td><td>addr1qyu57x0...x23aqsxjpdex</td><td>314,800 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Cardano Foundation - Unveiling the First Unified Global Events Marketing Strategy for Cardano</td><td>addr1qxkty7f...c9s8eqr6r3v3</td><td>6,000,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Cardano Foundation - Cardano Summit 2025 and regional tech events</td><td>addr1qxkty7f...c9s8eqr6r3v3</td><td>6,000,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>Intersect MBO - A member-based organization for the Cardano ecosystem</td><td>addr1q9qk3n3...uvcmxsly0a5a</td><td>15,750,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>AdaStat.net Cardano blockchain explorer (2 of 2)</td><td>addr1qyjk85v...4am7squssllz</td><td>59,716 ADA</td><td>None</td><td>In Progress</td></tr><tr><td>AdaStat.net Cardano blockchain explorer (1 of 2)</td><td>addr1qyjk85v...4am7squssllz</td><td>152,284 ADA</td><td>None</td><td>Pending Approval</td></tr></tbody></table>

</details>

<details>

<summary><strong>IOG Projects</strong></summary>

### **IOG Projects**

<table data-card-size="large" data-view="cards"><thead><tr><th>Project</th><th>Vendor Address</th><th>Budget</th><th>Matured Milestones</th><th>Stage</th></tr></thead><tbody><tr><td>IOG - Advancing Decentralised Community Innovation Funding &#x26; Infrastructure</td><td>IOG</td><td>5,159,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>IOG - Beyond Minimum Viable Governance</td><td>IOG</td><td>592,780 ADA</td><td>None</td><td>Paused</td></tr><tr><td>IOG - Blockfrost Platform Community Budget Proposal</td><td>IOG</td><td>1,300,000 ADA</td><td>None</td><td>Paused</td></tr></tbody></table>

<table data-view="cards"><thead><tr><th></th></tr></thead><tbody><tr><td></td></tr></tbody></table>

</details>

<details>

<summary><strong>Imput Output Projects</strong></summary>

### **Imput Output Projects**

<table data-card-size="large" data-view="cards"><thead><tr><th>Project</th><th>Vendor Address</th><th>Budget</th><th>Matured Milestones</th><th>Stage</th></tr></thead><tbody><tr><td>Input Output Engineering Core Development Proposal (6of6)</td><td>Input Output...posal (6of6)</td><td>33,664,800 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (5of6)</td><td>Input Output...posal (5of6)</td><td>11,492,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (4of6)</td><td>Input Output...posal (4of6)</td><td>10,816,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (3of6)</td><td>Input Output...posal (3of6)</td><td>8,870,001 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Input Output Engineering Core Development Proposal (2of6)</td><td>Input Output...posal (2of6)</td><td>7,774,000 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Input Output Engineering Core Development Proposal (1of6)</td><td>Input Output...posal (1of6)</td><td>24,200,280 ADA</td><td>1 Claimable</td><td>Paused</td></tr><tr><td>Lantr - Scalus: DApps Development Platform</td><td>addr1q8hy6hp...e732nq05zszr</td><td>657,692 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>BloxBean Java Tools Maintenance and Enhancement</td><td>addr1q8jwgfg...25gq6saxvzdt</td><td>99,600 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Tastenkunst GmbH - Eternl Maintenance</td><td>addr1qyekd5c...xse8pqk5zmd8</td><td>583,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Cooperativa de Trabajo Eryx - ZK Bridge</td><td>addr1q84nayk...drr9wsmrvged</td><td>700,000 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Harmonic Laboratories: Gerolamo - Cardano Node in typescript</td><td>addr1q9a80rm...35lhqqex327p</td><td>578,571 ADA</td><td>None</td><td>Paused</td></tr><tr><td>Open Source Committee - Developer Advocates Program, Committee Travel Budget, Bug Bounty</td><td>addr1q9kpwrd...wkycvs3gy7pn</td><td>1,010,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>OSC - Maintainer Retainer, Tooling Sustainability, Security Incident Management Programs</td><td>addr1q9kpwrd...wkycvs3gy7pn</td><td>3,975,000 ADA</td><td>None</td><td>Paused</td></tr><tr><td>GO MAESTRO INC - Complete Web3 developer stack</td><td>addr1qyn28fk...4t6mssgdvca8</td><td>600,000 ADA</td><td>All Claimed</td><td>Completed</td></tr><tr><td>VacuumLabs - Hardware Wallets Maintenance &#x26; Ledger App Rewrite</td><td>addr1q9c0wgx...gfg5nsj6r0a3</td><td>724,800 ADA</td><td>None</td><td>Paused</td></tr><tr><td>zkFold ZK Rollup</td><td>addr1q8phtw2...mme3gs9vp2d3</td><td>1,161,000 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Midgard Labs - Lucid Evolution Maintenance</td><td>addr1q9rsaat...2nawgsssa7nv</td><td>130,903 ADA</td><td>1 Claimable</td><td>Paused</td></tr><tr><td>TxPipe - Pallas, UTxO RPC, Dolos</td><td>addr1q94dne7...vz03cs9xjqzs</td><td>662,742 ADA</td><td>None</td><td>Pending Approval</td></tr><tr><td>Midgard - Optimistic Rollups</td><td>addr1q9rsaat...2nawgsssa7nv</td><td>2,162,096 ADA</td><td>None</td><td>Paused</td></tr></tbody></table>

</details>


# Intersect Programme Updates

In this page you can find the scope and reports related to Intersect's 2025 Budget Proposal.

{% hint style="info" %}

## Intersect's Contract

After the approval of Intersect's Budget Proposal by DReps and following the Treasury Withdrawal, Intersect signed a legal contract to deliver what was proposed.

Here is a link to our contract [A member-based organization for the Cardano ecosystem- Intersect](https://drive.google.com/file/d/1Cu_5tq3fvv8NXPEMGPhtF2kGWhVNKv82/view?usp=sharing)
{% endhint %}

## Intersect's Operational Treasury Contract 2025/2026:

In the 2025 Budget Proposal request and the following contract, Intersect committed to deliver against these 8 operational work-streams are:

1. Execute administrator role
2. Maintain and govern Cardano’s core open source repos
3. Via Intersect members, coordinate process to propose 2030 Cardano Vision
4. Via Intersect members, refine proposed process for 2026 Cardano Budget
5. Via Intersect members, refine proposals to improve and evolve Cardano’s governance
6. Via Intersect members, coordinate Cardano’s next upgrade
7. Provide professional coordination and support for Intersect committees and working groups.
8. Provide members tooling to participate.

## Quarterly Reports

These are the Quarterly Reports that Intersect committed to in our 2025 Budget Proposal.

<table data-view="cards"><thead><tr><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td>Q3 2025 Progress Report</td><td><a href="https://drive.google.com/file/d/1mZch4MBO6WNH8noEPnkKcT0OqECnbEy8/view?usp=sharing">https://drive.google.com/file/d/1mZch4MBO6WNH8noEPnkKcT0OqECnbEy8/view?usp=sharing</a></td><td><a href="/files/sQ0kDDDgq7KNb34Awe9h">/files/sQ0kDDDgq7KNb34Awe9h</a></td></tr><tr><td>Q4 2025 Progress Report</td><td><a href="https://drive.google.com/file/d/123-cpnEg6cxmD-B65hZj4krl5qOi6EcF/view?usp=drive_link">https://drive.google.com/file/d/123-cpnEg6cxmD-B65hZj4krl5qOi6EcF/view?usp=drive_link</a></td><td><a href="/files/sQ0kDDDgq7KNb34Awe9h">/files/sQ0kDDDgq7KNb34Awe9h</a></td></tr><tr><td>Q1 2026 Progress Report</td><td><a href="https://drive.google.com/file/d/1OD9A9F-jSO1QgIbaiGbejFuHjdPRNCw4/view?usp=drive_link">https://drive.google.com/file/d/1OD9A9F-jSO1QgIbaiGbejFuHjdPRNCw4/view?usp=drive_link</a></td><td><a href="/files/sQ0kDDDgq7KNb34Awe9h">/files/sQ0kDDDgq7KNb34Awe9h</a></td></tr><tr><td>Q2 Report will be created at the of June 2026</td><td></td><td></td></tr></tbody></table>


# FAQs

## ADA Price Volatility

<details open>

<summary><strong>What happens if I am not able to complete my proposal due to lack of funds, caused by ADA price volatility?</strong></summary>

As a proposal owner under Intersects administration, we would encourage you to come forward for a discussion, each vendor and proposal is different and has unique circumstances.

Intersect does not hold contingencies on behalf of the treasury or DReps, so cannot guarantee additional funds unilaterally, however we are keen to understand the unique challenges faced, at the very least so improvement can be suggested for subsequent budget cycles.

</details>

<details>

<summary><strong>Why were proposals submitted in the 2025 budget cycle asked to provide a USD equivalent and/or spot rate?</strong></summary>

Proposal owners were asked to provide a spot rate or fiat cost for proposals to make comparison between proposals for DReps easier. Unfortunately this provides no guarantee in the treasury withdrawal action mechanism for any shortfall in these rates or conversions.

</details>

<details>

<summary><strong>What happens if the price of ADA increases?</strong></summary>

Any upside seen in the ADA price is at the prerogative of the vendor. Treasury withdrawals, unless explicitly stated as part of their withdrawal terms, are in ADA, not ADA at a rate or of equivalent fiat value. Vendors may choose to return excess funds to the treasury, Intersect can support the advertisement and amplification of any such action.

</details>

<details>

<summary><strong>Is there professional financial management of treasury ADA?</strong></summary>

Professional financial management of treasury ADA by Intersect, to account for potential volatility, received significant negative feedback in the lead up to the 2025 budget cycle so was not pursued or included as a service offered by Intersect.

</details>

## Administration Fee

<details>

<summary><strong>What is the new Administration Fee and why is it being introduced?</strong></summary>

A 3% administration fee will be applied to treasury withdrawals that Intersect administers from 2026 onward. It is being introduced to ensure administration services are available year‑round and can scale with the volume of funded work, rather than relying on a fixed annual budget.

</details>

<details>

<summary><strong>Does this Administration fee reduce the amount I receive as a vendor?</strong></summary>

The fee is deducted from the approved treasury withdrawal before disbursement.

The administration fee supports the operational services required to deliver your project successfully. This includes milestone oversight and verification, third‑party technical spot check reviews, vendor coordination, transparent reporting, maintenance of dashboards and tracking tools, continuous improvement work, and the full procurement, contracting, and smart contract disbursement process. These activities ensure a consistent and reliable service for all funded teams across the ecosystem.

</details>

<details>

<summary><strong>Does this apply to my existing contract?</strong></summary>

The fee applies to treasury withdrawals administered from 2026 onward. Contract‑specific details will be communicated during onboarding or contract updates.

</details>

<details>

<summary><strong>Will this change how I plan or deliver my milestones?</strong></summary>

Your delivery process remains the same. The fee simply ensures the operational support behind it is consistently available. Please reach out to your Delivery Assurance contact for clarification.

</details>

## Assets

<details>

<summary><strong>Can I receive payment in Stablecoins or any other asset?</strong></summary>

During 2025 and leading into 2026, ada was the only asset option avialable to vendors. As od 1st June 2026, Intersect now offers an optional stablecoin conversion service for vendors who wish to receive their smart contract payments in stablecoins rather than ADA. This service is designed to give vendors a way to hedge against ADA price volatility, but it is optional. The default, and primary, approach remains ADA-first.

</details>

## Contracts

<details>

<summary><strong>What is the operational difference between a Work Package and a milestone?</strong></summary>

Work Packages group related activities or deliverables within a proposal (useful for vendors with multiple work streams). Milestones are the specific, verifiable outputs inside a Work Package that trigger milestone evidence and payment.

</details>

<details>

<summary><strong>Can milestones inside the same Work Package be paid independently?</strong></summary>

Yes. Milestones can be executed and funded independently and out of order unless a milestone is dependency on another milestone’s completion.

</details>

<details>

<summary><strong>If I need multiple initiatives to run in parallel, should they be separate Work Packages</strong></summary>

You can either place them as independent milestones (with no dependencies) in the same Work Package or put them in separate Work Packages.

</details>

<details>

<summary><strong>How are payments handled under Intersect administration - upfront or milestone-based?</strong></summary>

Payments are provisioned strictly on a milestone basis. Each milestone ties to a payment amount and release condition; funds unlock according to the smart-contract payment schedule.

</details>

<details>

<summary><strong>How do I withdraw funds once a milestone payment unlocks?</strong></summary>

Once funds become available, connect with the same wallet used to sign the smart contract and withdraw.

</details>

## Delegating

<details>

<summary><strong>Can a Smart Contract be delegated to a DRep?</strong></summary>

No, smart contracts cannot delegate to a DRep. Smart Contracts are aligned with constitutional requirements for treasury funds, they can only be delegated to abstain.&#x20;

Which can be seen here: <https://github.com/SundaeSwap-finance/treasury-contracts/blob/main/validators/treasury.ak#L97> \
\
And here;\
<https://github.com/SundaeSwap-finance/treasury-contracts/blob/main/validators/vendor.ak#L69>\\

</details>

<details>

<summary><strong>Can a Smart Contract receive staking rewards?</strong></summary>

No, a smart contract cannot receive staking rewards. SPO delegation is excluded in the smart contract code, any attempt to delegate would fail. Which can be seen here: <https://github.com/SundaeSwap-finance/treasury-contracts/blob/main/validators/treasury.ak#L108>

</details>

## Third Party Assurance

<details>

<summary><strong>What happens if my Third Party Assurer is no longer able to review the milestones?</strong></summary>

Where practically possible Intersect asks that all vendors provide Third Party Assurance of the work. You may choose another Third Party Assurer throughout the duration of the contract, if aligned with the Delivery Assurance team.

</details>

<details>

<summary><strong>Who is an appropriate Third Party Assurer?</strong></summary>

Considering the range of proposals under administration there is not a ‘*one size fits all*’ approach. The Third Party Assurer must be someone who is technically competent to properly review and attest that the work has been completed as per the acceptance criteria in the contract, this could be an individual or someone on behalf of an organisation.&#x20;

Whoever you decide to be your Third Party Assurer must be informed and agree to do this. Technical or software based proposals must comply with Intersects [Technical Review Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/technical-review-policy). Proposals which affect the core node must also consult the [Cardano constitution ](https://docs.intersectmbo.org/archive/cardano-governance-archive/cardano-constitution/read-the-cardano-constitution)for additional guardrails. Intersects Delivery Assurance team may look for community verified success for any project.&#x20;

**Some of the things we will look for are:**

* Are there open feedback loops with the community?
* Open issue and bug tracking, are these being acted upon in a timely manner?
* Are proposals being developed openly through test-nets or through prototyping, so progress can be verified?
* Have these prototypes and test-net versions had adoption and use?
* Does documentation exist?
* Has the community been used to help set or confirm direction (involvement in and use of Cardano Improvement Proposals, Cardano Problem Statements and other forums)?
* Are there open public communications between the vendors and community?

There are instances where Intersect will accept community based evidence, where a vendor can demonstrate that the community has been intrinsically involved in verifying the quality of the deliverables, such as the bullet points above.

<p align="center"><a href="/pages/yRE9ujCueE85nXhI5FDt" class="button primary">Read More About Third Party Assurers TPA's</a></p>

</details>

## Wallets

<details>

<summary><strong>What wallet requirements do I need to be able to withdraw payments?</strong></summary>

The wallet and credentials used to withdraw funds from the PSSC vendor smart contracts will incur a standard transaction fee and need enough collateral to guarantee the withdrawal transaction. Attempting to withdraw a matured milestone payment using a wallet with 0 (zero) ADA will fail.

</details>

<details>

<summary><strong>Issue with Yoroi</strong></summary>

There is currently a known issue with Yoroi wallet and compatibility with these smart contracts. Yoroi wallet refuses to sign a transaction for which you are a required signer, but not a participant via the inputs; this means that any vendors using Yoroi will be unable to sign the transactions required for smart contracts until such time this is resolved. Vendors are asked to provide alternatives to Yoroi for the current smart contract deployments. The Yoroi team are aware of this issue and working on a fix.

</details>

<details>

<summary><strong>I have an issue submitting a Transaction</strong></summary>

Please ensure your Ledger firmware is up to date, as outdated firmware may prevent you from submitting transactions. The Administration Portal is fully CIP-30 compliant.

</details>

***

If you have any suggestions or feedback that you would like to provide to Intersect, please contact us at <operational-services@intersectmbo.org>.


# Resources

<table data-view="cards"><thead><tr><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h2>Templates</h2></td><td><a href="/files/aVddcIPJZSe40CY3y4Ix">/files/aVddcIPJZSe40CY3y4Ix</a></td><td><a href="/pages/gbHjH2qE8u6BjXTsQvZw">/pages/gbHjH2qE8u6BjXTsQvZw</a></td></tr><tr><td><h2>Examples</h2></td><td><a href="/files/Fpa5FiKPKDO4kKtraFxP">/files/Fpa5FiKPKDO4kKtraFxP</a></td><td><a href="/pages/dYlfXHDgYP8nR4yO9sJg">/pages/dYlfXHDgYP8nR4yO9sJg</a></td></tr><tr><td><h2>Links</h2></td><td><a href="/files/I2X0brNG8FYkjQyxcERr">/files/I2X0brNG8FYkjQyxcERr</a></td><td><a href="/pages/FQCCk9qjLFXXpmokL8BV">/pages/FQCCk9qjLFXXpmokL8BV</a></td></tr></tbody></table>

***

***

## Key Areas in this space

Find information quickly across the Knowledge Base.

<button type="button" class="button primary" data-action="ask" data-icon="gitbook-assistant">Ask a question…</button>

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4><strong>Administrative Services</strong></h4></td><td>Connecting projects with the Cardano community</td><td><a href="/pages/J2SvYMW1PLRgpmh2XQum">/pages/J2SvYMW1PLRgpmh2XQum</a></td><td><a href="/files/xOXLmQqhGFPmjTkM4KBp">/files/xOXLmQqhGFPmjTkM4KBp</a></td></tr><tr><td><h4>FAQs</h4></td><td>Quick answers to common user questions</td><td><a href="/pages/ftYELGrx6ViPvAEuMQ76">/pages/ftYELGrx6ViPvAEuMQ76</a></td><td><a href="/files/CfPZGpSRizNB0X5OlMMq">/files/CfPZGpSRizNB0X5OlMMq</a></td></tr><tr><td><h4>How-to Guides</h4></td><td>Step‑by‑step instructions for key tasks</td><td><a href="/pages/O8XEszSm66a6zYOKmcMd">/pages/O8XEszSm66a6zYOKmcMd</a></td><td><a href="/files/J0nkDYRTQHfljFdsnTcG">/files/J0nkDYRTQHfljFdsnTcG</a></td></tr><tr><td><h4>Reports</h4></td><td>Monthly and mid‑year project updates</td><td><a href="/pages/FXRQwwXIO7kyeYhCrlXF">/pages/FXRQwwXIO7kyeYhCrlXF</a></td><td><a href="/files/C9RiiKwESrFuLdgys4M5">/files/C9RiiKwESrFuLdgys4M5</a></td></tr><tr><td><h4>News &#x26; Updates</h4></td><td>News, Project and company updates.</td><td><a href="/pages/6NdHoI4zmQBQgijJsm8c">/pages/6NdHoI4zmQBQgijJsm8c</a></td><td><a href="/files/IpGK5Z5ARME8yXpEAVXA">/files/IpGK5Z5ARME8yXpEAVXA</a></td></tr><tr><td><h4><strong>Resources</strong></h4></td><td>Templates, tools, and supporting documents</td><td><a href="/pages/CvfnEUjQR4xKXogPgv67">/pages/CvfnEUjQR4xKXogPgv67</a></td><td><a href="/files/MxlCw63Oo1IpYMAVc9GY">/files/MxlCw63Oo1IpYMAVc9GY</a></td></tr><tr><td><h4><strong>Policies</strong></h4></td><td>Current policies, standards, and requirements</td><td><a href="/pages/IIFT6LGxYfvfgss0XlEE">/pages/IIFT6LGxYfvfgss0XlEE</a></td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr><tr><td><h4><strong>Glossary</strong></h4></td><td>Definitions of key terms and acronym</td><td><a href="/pages/2g1QrshriRbIs5qf4rHY">/pages/2g1QrshriRbIs5qf4rHY</a></td><td><a href="/files/WIMUqiIpi7xlh1CHmynE">/files/WIMUqiIpi7xlh1CHmynE</a></td></tr><tr><td><h4><strong>Contact</strong></h4></td><td>How to reach the right support team</td><td><a href="/pages/pWxXXIGZ3OjxD9cAzCDX">/pages/pWxXXIGZ3OjxD9cAzCDX</a></td><td><a href="/files/dbwefaPAN3XWQeerAN08">/files/dbwefaPAN3XWQeerAN08</a></td></tr></tbody></table>


# Templates

## Vendor Templates

Download ready‑to‑use Milestone Acceptance Form templates designed to help you document your milestone evidence clearly and consistently. These templates ensure you meet all acceptance criteria and follow the required submission process.

### Download Invoice Template

{% file src="/files/i5k73BqiKQINYqSJqNve" %}

### Download Contract Change Request Form

{% file src="/files/W3Qh2YMFuQDUYtVfk4Yl" %}

### Download Milestone Acceptance Form

{% file src="/files/CccXWhmXSNBXylgIPaT2" %}

***

{% columns %}
{% column width="33.33333333333333%" valign="middle" %}

<figure><img src="/files/WIMUqiIpi7xlh1CHmynE" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

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### Need More Help With Documents

Need more guidance on how to fill vendor documents? We have compiled some examples and templates for you.

<a href="/pages/dYlfXHDgYP8nR4yO9sJg" class="button primary">View Examples</a> <a href="/pages/PMcuXcLAzAjOWmILZlgm" class="button secondary">Go Back to Hubs</a> <a href="/pages/gbHjH2qE8u6BjXTsQvZw" class="button primary">View Templates</a>
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# Examples

## Example Documents for Vendors

On this page you can view good examples of documents such as MAF's and SoW's.

<table data-view="cards"><thead><tr><th></th><th></th><th data-type="files"></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h4>How to write milestones within your SoW</h4></td><td>You can also take a look at what a good milestone looks like to help you with writing your milestones in your contract.</td><td><a href="/files/oyrBi3RtRoQmn5MpCMqi">/files/oyrBi3RtRoQmn5MpCMqi</a></td><td><a href="/files/x8ZdziHMAiAUJPmCgxPK">/files/x8ZdziHMAiAUJPmCgxPK</a></td><td><a href="/pages/596MYY4VpjzGiw3Kljb6">/pages/596MYY4VpjzGiw3Kljb6</a></td></tr><tr><td><h4>Download MAF Examples</h4></td><td>View this completed MAF example that demonstrate what high‑quality milestone evidence looks like. These examples help you understand the level of detail, clarity, and verification expected for successful milestone acceptance.</td><td><a href="/files/vXDEbBKjMBnt75SijHd9">/files/vXDEbBKjMBnt75SijHd9</a></td><td><a href="/files/sIGNm5UOJg9dxnlQ28Xf">/files/sIGNm5UOJg9dxnlQ28Xf</a></td><td><a href="https://drive.google.com/file/d/1GVCg_v3mSO1H7DZ-CTl1dobyhnyDWIhc/view?usp=drive_link">https://drive.google.com/file/d/1GVCg_v3mSO1H7DZ-CTl1dobyhnyDWIhc/view?usp=drive_link</a></td></tr><tr><td><h3>View Downloadable Templates</h3></td><td>Download ready‑to‑use Milestone Acceptance Form templates designed to help you document your milestone evidence clearly and consistently.</td><td></td><td><a href="/files/aVddcIPJZSe40CY3y4Ix">/files/aVddcIPJZSe40CY3y4Ix</a></td><td><a href="/pages/gbHjH2qE8u6BjXTsQvZw">/pages/gbHjH2qE8u6BjXTsQvZw</a></td></tr></tbody></table>


# Links

Access key resources, including the smart contract dashboard, Delivery Assurance policies, invoicing guidelines, and additional documentation to support your project delivery and milestone submissions.

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### ![](/files/jKysEK9ezwp66tOy9OKq)

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### Link to Smart Contract Treasury Dashboard

Access the live dashboard used to view, manage, and interact with Treasury Contracts and Vendor Contracts. This tool allows vendors to submit evidence, track milestone status, and withdraw payments directly from their smart contract.

<a href="https://treasury.sundae.fi/instances/9e65e4ed7d6fd86fc4827d2b45da6d2c601fb920e8bfd794b8ecc619?projectState=Active" class="button primary">Go to Treasury Dashboard</a>
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***

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![](/files/rENfdDemiImAB60CnRoz)
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### Link to Smart Contract Blog

A high‑level overview of how smart contracts are used to manage Cardano treasury budgets. This blog explains why funds are held on‑chain, how transparency is maintained, and how Intersect’s administrative processes support secure, accountable treasury management.

<a href="https://www.intersectmbo.org/news/%EF%B8%8F-smart-contracts-and-cardano-budgets" class="button primary">Go to the Smart Contract Blog</a>
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***

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<figure><img src="/files/WIMUqiIpi7xlh1CHmynE" alt=""><figcaption></figcaption></figure>
{% endcolumn %}

{% column width="66.66666666666667%" valign="middle" %}

### Need More Help With Documents

Need more guidance on how to fill vendor documents? We have compiled some examples and templates for you.

<a href="/pages/dYlfXHDgYP8nR4yO9sJg" class="button primary">View Examples</a> <a href="/pages/PMcuXcLAzAjOWmILZlgm" class="button secondary">Go Back to Hubs</a> <a href="/pages/gbHjH2qE8u6BjXTsQvZw" class="button primary">View Templates</a>
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***

## Key Areas in this space

Find information quickly across the Knowledge Base.

<button type="button" class="button primary" data-action="ask" data-icon="gitbook-assistant">Ask a question…</button>

<table data-view="cards" data-full-width="false"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th></tr></thead><tbody><tr><td><h4><strong>Administrative Services</strong></h4></td><td>Connecting projects with the Cardano community</td><td><a href="/pages/J2SvYMW1PLRgpmh2XQum">/pages/J2SvYMW1PLRgpmh2XQum</a></td><td><a href="/files/xOXLmQqhGFPmjTkM4KBp">/files/xOXLmQqhGFPmjTkM4KBp</a></td></tr><tr><td><h4>FAQs</h4></td><td>Quick answers to common user questions</td><td><a href="/pages/ftYELGrx6ViPvAEuMQ76">/pages/ftYELGrx6ViPvAEuMQ76</a></td><td><a href="/files/CfPZGpSRizNB0X5OlMMq">/files/CfPZGpSRizNB0X5OlMMq</a></td></tr><tr><td><h4>How-to Guides</h4></td><td>Step‑by‑step instructions for key tasks</td><td><a href="/pages/O8XEszSm66a6zYOKmcMd">/pages/O8XEszSm66a6zYOKmcMd</a></td><td><a href="/files/J0nkDYRTQHfljFdsnTcG">/files/J0nkDYRTQHfljFdsnTcG</a></td></tr><tr><td><h4>Reports</h4></td><td>Monthly and mid‑year project updates</td><td><a href="/pages/FXRQwwXIO7kyeYhCrlXF">/pages/FXRQwwXIO7kyeYhCrlXF</a></td><td><a href="/files/C9RiiKwESrFuLdgys4M5">/files/C9RiiKwESrFuLdgys4M5</a></td></tr><tr><td><h4>News &#x26; Updates</h4></td><td>News, Project and company updates.</td><td><a href="/pages/6NdHoI4zmQBQgijJsm8c">/pages/6NdHoI4zmQBQgijJsm8c</a></td><td><a href="/files/IpGK5Z5ARME8yXpEAVXA">/files/IpGK5Z5ARME8yXpEAVXA</a></td></tr><tr><td><h4><strong>Resources</strong></h4></td><td>Templates, tools, and supporting documents</td><td><a href="/pages/CvfnEUjQR4xKXogPgv67">/pages/CvfnEUjQR4xKXogPgv67</a></td><td><a href="/files/MxlCw63Oo1IpYMAVc9GY">/files/MxlCw63Oo1IpYMAVc9GY</a></td></tr><tr><td><h4><strong>Policies</strong></h4></td><td>Current policies, standards, and requirements</td><td><a href="/pages/IIFT6LGxYfvfgss0XlEE">/pages/IIFT6LGxYfvfgss0XlEE</a></td><td><a href="/files/hdiOEQspX3FNBTsf2Huc">/files/hdiOEQspX3FNBTsf2Huc</a></td></tr><tr><td><h4><strong>Glossary</strong></h4></td><td>Definitions of key terms and acronym</td><td><a href="/pages/2g1QrshriRbIs5qf4rHY">/pages/2g1QrshriRbIs5qf4rHY</a></td><td><a href="/files/WIMUqiIpi7xlh1CHmynE">/files/WIMUqiIpi7xlh1CHmynE</a></td></tr><tr><td><h4><strong>Contact</strong></h4></td><td>How to reach the right support team</td><td><a href="/pages/pWxXXIGZ3OjxD9cAzCDX">/pages/pWxXXIGZ3OjxD9cAzCDX</a></td><td><a href="/files/dbwefaPAN3XWQeerAN08">/files/dbwefaPAN3XWQeerAN08</a></td></tr></tbody></table>


# Glossary

<table><thead><tr><th width="162.83502197265625" align="center" valign="bottom">Term</th><th>Explanation</th></tr></thead><tbody><tr><td align="center" valign="bottom"><strong>Beneficiary</strong></td><td>Individual and/or Company who will be receiving funds and/or entering into contractual relationships with Intersect or with CDH where Intersect is acting as its Administrator.</td></tr><tr><td align="center" valign="bottom"><strong>Cardano Development Holdings (CDH)</strong></td><td>CDH is a legal entity created to support the Cardano ecosystem by acting as the contracting counterparty for approved proposals by DReps.</td></tr><tr><td align="center" valign="bottom"><strong>Milestone(s)</strong></td><td>means the dates by which a part or all of the Services is to be completed, as set out in <strong>a Statement of Work document.</strong></td></tr><tr><td align="center" valign="bottom">M<strong>ilestone Acceptance Form (MAF)</strong></td><td>This is a written attestation in the form of a standard template, submitted by a vendor, for each milestone</td></tr><tr><td align="center" valign="bottom"><strong>Intersect</strong></td><td>Intersect serves as an Administrator within Cardano’s funding ecosystem, helping to operationalize community-approved proposals by coordinating due diligence, contracting, and on-chain disbursements. This role is grounded in the principles of transparency, decentralization, and adherence to the Cardano Constitution.</td></tr><tr><td align="center" valign="bottom"><strong>Oversight Committee (OC)</strong></td><td>The oversight committee are a group of organisations who have agreed to be a part of Intersect's Smart Contract Governance, actively reviewing and approving any funding actions of PSSCs from Treasury Reserve Smart Contracts (TRSC)s.</td></tr><tr><td align="center" valign="bottom"><strong>Statement of Work</strong></td><td>The document describing the Services and Deliverables to be provided by the Vendor, the Milestones, date of completion, expected quality standards, and associated fees.</td></tr></tbody></table>


# Share your Feedback

## **Vendor Feedback Link**

This link will be shared with you during your off-boarding process. If you have any questions before then, please contact your dedicated Delivery Assurance team member.

***

## Continuous Improvement Feedback Form

We welcome your feedback at any stage.

<a href="https://docs.google.com/forms/d/1Yz5sjxEh8jZAAJoqe_LQz088xxiDctFe59kBEpolGvM/viewform?edit_requested=true" class="button primary">Send us your Feedback</a>


# Delegation of Authority Form

{% hint style="info" %}
Please download the file below and send to the relevant Intersect representative.
{% endhint %}

{% file src="/files/27yVj66Vf47QB1KniGKY" %}

{% embed url="<https://docs.google.com/document/d/1hrUdrAB3yVJ7RBQwWLLCmOOlgvAewAk4bGWKlPcwD1c/edit?usp=sharing>" %}


# Smart Contracts

This page outlines how Smart Contracts will be utilized from the perspectives of the ecosystem and vendors, as part of Intersect’s administration.

## How Do Smart Contracts Work?

Ultimately, treasury funds withdrawn as part of an Intersect treasury withdrawal governance action will, wherever possible and applicable, use multi-signature controlled smart contracts to safeguard treasury funds and make the use of treasury funds transparent on-chain.

Smart contracts will hold treasury funds and vendor payments transparently on-chain, effectively in escrow. These smart contracts can be partitioned into themes and specific project contracts, enhancing community visibility and transparency.

These smart contracts have been built with a specific, limited set of permissions, each of which is authorized through keys and, should they be executed, would be transparent and auditable on-chain. Each partitioned theme or grouping of treasury funds can have its own unique set of permissions. We refer to this group of permissions as an oversight committee.

The following sections of the knowledge base outline the composite parts of the smart contract framework and how they may initially be used:

<details>

<summary><strong>1. Types of Smart Contracts</strong></summary>

#### **Types of Smart Contracts**

There are two types of smart contracts initially designed for managing treasury funds: a Treasury Reserve Contract (formally referred to in specifications as a Treasury Reserve Smart Contract (TRSC)), and a Vendor Contract (officially referred to in specifications as a Project-Specific Smart Contract (PSSC)). For clarity and ease, we will refer to these as Treasury Contracts and Vendor Contracts from here on.

* **Treasury Contract**

One or more smart contract instances on-chain will hold funds from the Cardano Treasury in a reserve account. These funds will be allocated to projects that have been approved and budgeted by the community. Funds will be held in ADA. Funds can only be transferred to another Treasury Contract instance, a Vendor Contract instance, swept back to the Cardano Treasury, or moved temporarily to an exchange for conversion purposes.&#x20;

Each Treasury Contract will be permissioned as to who can undertake the defined actions within the smart contract. The following permissions are available within a Treasury Contract:

<figure><img src="/files/F0jPcuuS6Pjusrn1FB8j" alt="" width="563"><figcaption></figcaption></figure>

**Actions defined:**

* Fund - Treasury Reserve contract can be used to fund a new Vendor Contract
* Disburse - Funds can be disbursed to arbitrary destinations (should require a high many-of-a-number (MofN) signatory, metadata rationale should be provided if used)
* Reorganize - UTXOs at the treasury address can be reorganized, such as splitting or merging them
* SweepTreasury - Funds can be swept back to the treasury before a mandatory expiration.

**Prohibited actions:**

* Participation in staking
* Participation in governance

**Vendor Contract**

A Vendor Contract is one or more smart contract instances on-chain with a descriptive project name, a project code, a specified vendor, a payment schedule, and a budget. A transfer from a Treasury Contract funds the budget for a Vendor Contract. The Vendor Contract is intrinsically linked to a Treasury Contract. The permissions of a Vendor Contract are inherited from the Treasury Contract to which it is associated. The following permissions are available within a Vendor Contract.

<figure><img src="/files/HYLtRNR8RtfQEDkGKE2P" alt="" width="344"><figcaption></figcaption></figure>

**Actions defined:**

* **Pause -**  Intersect’s Administration team can pause a payment milestone (milestones can be paused independently of each other).
* **Resume -** Intersect’s Administration team can un-pause a specific milestone.
* **Modify -** The vendor and the oversight committee can agree to modify or cancel a project, such as extending the deadline for a milestone.

Two additional actions can be either inherited from the Treasury Contract or configured during the creation of the Vendor Contract.

* **SweepVendor -** After an expiration, all paused, unmatured funds can be swept back to the Treasury Contract (and thus back to the Cardano treasury).
* **Malformed -** If a UTXO is malformed, such as when someone sends funds to the vendor contract directly without a Plutus datum, we don't want those to be locked. Therefore, we allow them to be swept back to the treasury contract.

</details>

<details>

<summary><strong>2. Treasury contract partitions</strong></summary>

#### **Treasury contract partitions**

Funds can be partitioned into Treasury Contracts at any time; they can be specified in the treasury withdrawal governance action, or funds can be moved into smart contracts at a later date. This latter option may be used to smooth the adoption and risk of a big-bang approach. It is expected that several partitions or slices of funds will ultimately be used.

These can be themed arbitrarily but are expected to follow some logic, either thematically, by use, or most likely phases of deployment, such as ‘2025 Budget Proposals’. However, there are multiple possibilities for now and in the future. An illustration is provided below.

<figure><img src="/files/kfcenVt5BMxMhkUt8l0A" alt=""><figcaption></figcaption></figure>

</details>

<details>

<summary><strong>3. Want to Explore the Smart Contract Framework?</strong></summary>

#### **Want to Explore the Smart Contract Framework?**

The smart contract system is evolving, and vendors are welcome to contribute ideas or improvements.

**Feature backlog:**\
<https://github.com/IntersectMBO/budget-management>

**Smart contract code and audits:**

* [Smart Contract ConfigurationxPipe and MLabs (audits)](https://github.com/SundaeSwap-finance/treasury-contracts/tree/main/audits)
* <https://github.com/SundaeSwap-finance/treasury-contracts>

</details>

***

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## Learn More About The Oversight Committee

Understand the role of the Oversight Committee as part of Intersect's Administration.

<a href="/pages/gx462K6GM3bLWKZQ6EeS" class="button secondary">About The Oversight Committee</a>&#x20;

<a href="/pages/08cBfhuc4f8zSm2tUNPa" class="button primary">Role Of The Oversight Committee</a> <a href="/pages/PMcuXcLAzAjOWmILZlgm" class="button primary">Back To Hubs</a>
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# The Oversight Committee

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### Guide Overview

The Oversight Committee plays a crucial role in ensuring that treasury funds are managed responsibly, transparently, and in line with community‑approved governance actions. This guide explains how the Oversight Committee operates, what permissions they hold, and how they work alongside Intersect’s administration to safeguard the ecosystem.
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<p align="center"></p>

{% file src="/files/8KB3QoLw3mPIl9oowSBG" %}

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FIRp51uGU1I74w1Nk9JvV%2Fuploads%2FO7zpl1zhQ6vyoEpRJoZi%2FCardano_s_Check_%26_Balance.mp4?alt=media&token=c4ba49cf-939d-4215-bb31-6ca8f203962b>" %}

***

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### How the Oversight Committee Protects Vendors & Treasury Funds

<a href="/pages/08cBfhuc4f8zSm2tUNPa" class="button primary">Read More</a>
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***

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### How the Oversight Committee Works

<a href="/pages/gx462K6GM3bLWKZQ6EeS" class="button primary">Read More</a>
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***

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### About Smart Contracts

<a href="/pages/gx462K6GM3bLWKZQ6EeS" class="button primary">Read More</a>
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# How the Oversight Committee Protects Vendors and Treasury Funds

## **1.** Oversight Committee&#x20;

Each Treasury Reserve Contract can, as needed, be permissioned independently. Each action outlined above is subject to a required multi-signature to enact. These actions can also be permissioned individually or in groupings. As stated, the Vendor Contracts associated with a Treasury Contract inherit these permissions. Permissions can only be set when creating the Treasury Contract.

<figure><img src="/files/lodRhkqs2gqmceIK2w0q" alt=""><figcaption></figcaption></figure>

As the administrator, Intersect may legally require sole accountability for specific actions, such as Pause and Resume; however, Intersect, as practically possible and feasible, will continue to investigate the decentralization of additional controls for future implementations. Additional keys may be added for redundancy.

As mentioned previously, the oversight is a check and balance on Intersect's administrative duties rather than a hands-on vendor of proposal management. All of the smart contract permissions require Intersect to initiate the action through its various key configurations, and then the oversight provides a check and balance. Actions initiated by oversight members do not meet the required permissions, meaning they cannot unilaterally make changes to Intersect-administered contracts. Ultimately, when designing oversight committee permissions, a balance must be struck between legal requirements, functionality, simplicity, and scalability.

## 2. Smart Contract Permission Rationale

Initially, the smart contract permissions – Fund, Modify, Disperse, and Reorganize – will require additional signatures from the oversight committees before being used by Intersect. Effective oversight ensures that Intersect acts appropriately as an administrator, with checks and balances, rather than direct oversight of individual proposals.

This ensures that Intersect only creates smart contracts for vendors and proposals that DReps have approved in the corresponding info and governance actions. Multi-signatories will be required to initially fund these smart contracts. Oversight also protects proposal benefits or outcomes from diminishing over time due to poor change control or modifications to vendor contracts. Modify controls also requires oversight.

Secondly, should Intersect be required to use the Disperse or Reorganise action, multiple signatories will be needed to approve such an action. The process will ensure that appropriate reason and rationale are provided and that Intersect is not acting unilaterally.

The remaining smart contract permissions currently need to reside with Intersect as the administrator to ensure that the liability of Intersect and the Oversight Committee is managed appropriately. Additional rationale and explanation are provided below.

* **Fund -** This permission allows the creation of a Vendor Contract. Oversight ensures that this Vendor Contract aligns with the original scope and value of the DRep-approved governance action. Intersect initiates the action as the administrator, which is then cross-checked and approved by oversight.
* **Modify -** This permits a change to a Vendor Contract. Oversight ensures that any modified data is correct, consistent and that explanations have been attached as metadata . Intersect initiates a change request as the administrator, and then it is approved by oversight. The vendor must also sign a consent form to proceed with this action.
* **Disburse -** This action allows funds to be removed from a smart contract. If required, this action is initiated by Intersect as the administrator but requires approval from oversight before it is enacted.
* **Pause and Resume -** Following off-chain processes to verify the completeness of milestones and delivery, Intersect, at its discretion, may pause and resume vendor payments as necessary. Where applicable, rationale can be provided as metadata.
* **SweepTreasury -** This action is also enacted via a configurable timeout at an agreed-upon period after the treasury reserve contract has been completed. However, as the administrator, Intersect can undertake this action sooner should the need arise. It is permissioned at a higher level due to the potential effect it may have, effectively ensuring it is operated by two-person control to prevent erroneous actions.
* **Reorganize -** This administrative action is undertaken by Intersect and requires oversight to checks before enactment, administering back-end management of the UTXOs which underpin the smart contracts. This permission does not affect funds.

## 3. Role and responsibilities of the Oversight Committee

The role of the Oversight Committee (OC) is to provide a check and balance on Intersect as an Administrator. The Oversight Committee is narrowly responsible for specific data assurance tasks as described below. All other permissions regarding any smart contracts and their functions are and will continue to be held by Intersect at all times. The OC should consist of at least 5 and at most 7 members, balancing the potential for conflicts of interest versus operational cost. Any OC member may withdraw from the role at any time. Intersect, acting reasonably and in the best interest of the Cardano Community may also remove a member of the OC. In the instance a member of the OC is removed or leaves, Intersect will work expeditiously to replace the removed member.

Intersect retains all liability for the vendor proposals contracts, including the responsibility of pausing and resuming all milestone payments. Nothing in this framework or the actions it envisages will transfer any of Intersect’s responsibility or liability to the OC.

Intersect and the members of the OC acknowledge that the OC is still a fairly new role  within Intersects’ treasury withdrawal administration processes. As a result, it is to be expected that changes will be required moving forward. Intersect and the OC members will act in utmost good faith to work together to ensure solutions to any change requests. The OC will be notified of any changes to this framework via email; and where necessary meetings shall be held to discuss the changes. Oversight Committee members term is that of the Expiry of the Treasury Reserve Contract associated.

## 4. Oversight Committee Members’ Conflict of Interest

OC members should avoid any situations that could reasonably be seen as a conflict of interest with their Assurance Task — for example, also acting as a vendor in a PSSC — by disclosing and stepping back from decisions when possible and being open about any such situations.

| Action        | Initiated By | Requires Oversight | Requires SLT | Requires Vendor |
| ------------- | ------------ | ------------------ | ------------ | --------------- |
| Fund          | Intersect    | Yes                | Yes          | No              |
| Modify        | Intersect    | Yes                | Yes          | Yes             |
| Disburse      | Intersect    | Yes                | Yes          | Sometimes       |
| Pause         | Intersect    | No                 | Yes          | No              |
| Resume        | Intersect    | No                 | Yes          | No              |
| SweepTreasury | Intersect    | No                 | Yes          | No              |
| Reorganize    | Intersect    | Yes                | No           | No              |

5\. Smart Contract Configuration

There are two types of smart contracts initially designed for managing treasury funds: a Treasury Reserve Contract (TRSC) and a Vendor Contract (PSSC), which are associated to a TRSC.

* TRSCs hold funds withdrawn from the Cardano treasury
* PSSCs hold funds intended for a specific vendor, for a specific project

Where practically possible Intersect will configure only one TRSC for its Administration role, and all PSSCs associated with that TRSC inherit the respective TRSC’s permissions, as described below.

Should additional TRSCs be required, the identical OC configuration will be configured for such TRSCs. The OC will be consulted on the creation of any additional TRSCs.

#### Smart Contract Actions and Permissions

In total, the two contracts allow for 13 separate actions, of which 7 are permissioned in the context of the Oversight Committee framework:

**TRSC Fund -** Vendor payment - Funding a project for a vendor with a set of delivery milestones

**TRSC Disperse -** Disbursing funds to an arbitrary address and datum

**TRSC Sweep -** Returns funds held at the treasury contract back to the cardano treasury (before contract expiry)

**TRSC Reorganize -** Send from and to treasury contract - for actions such as splitting and merging UTxOs

**PSSC Pause -** Pauses a specific milestone for a vendor, preventing it from being claimed in case of a dispute of delivered work

**PSSC Resume -** Resuming a paused milestone, after the dispute has been resolved

**PSSC Modify -** Modifying a project, with a vendors permission, to restructure the milestones or pay funds back to the treasury script

In all cases, actions must be initiated by Intersect. In the cases of Fund, Modify, Disburse, Pause, Resume and Sweep, Intersect has implemented a two step process where administration key(s) are used to initiate or create actions, but they will also require Senior Leadership Team (SLT) Key(s) as part of the permission set. This effectively adds two person control within the administrator as additional checks and balances on internal processes.

Overview of possible Actions and required thresholds per entity:

| Operation           | Intersect Admin | Intersect Leadership | Oversight Committee |
| ------------------- | --------------- | -------------------- | ------------------- |
| **TRSC Fund**       | 2 of 3          | 1 of 2               | 2 of 5              |
| **TRSC Disperse**   | 2 of 3          | ALL (2 of 2)         | 3 of 5              |
| **TRSC Sweep**      | 1 of 3          | 1 of 2               | Not required        |
| **TRSC Reorganize** | 2 of 3          | Not required         | 3 of 5              |
| **PSSC Pause**      | 2 of 3          | 1 of 2               | Not required        |
| **PSSC Resume**     | 2 of 3          | 1 of 2               | Not required        |
| **PSSC Modify**     | 2 of 3          | 1 of 2               | 2 of 5              |

A full description of the smart contracts can be found[ here](https://github.com/SundaeSwap-finance/treasury-contracts), and a full description of the permission configurations can be found[ here](https://github.com/IntersectMBO/budget-management/blob/main/treasury-contracts-config-readable.md).


# How the Oversight Committee Works

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### Guide Overview

The Oversight Committee plays a critical role in ensuring transparency, accountability, and constitutional compliance across all smart‑contracted funding flows.&#x20;

This page walks you through the key assurance tasks the Oversight Committee performs, the end‑to‑end process for smart‑contracted projects, and the considerations that shape how oversight works.
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## Oversight Committee Assurance Tasks

The following page outlines how the assurance tasks will be undertaken by the OC.

<details>

<summary>1. Review and Approve Project Specific Smart Contract (PSSC) Funding:</summary>

The OC shall review and approve any funding actions of PSSCs from Treasury Reserve Smart Contracts (TRSC)s, as requested by Intersect from time to time.

For funding actions, the OC shall specifically check the consistency of the following data points:

* The vendor name or organization in the funding action matches a previously approved on-chain governance action.
* In exceptional cases, if there has been a change (e.g., a corporate name change), the OC may determine that the team behind the previous action and the current vendor are the same, and consider it a valid match.

The Quorum required is 2 out of 5 OC members.

During the early phases of the budget cycle, the expected occurrence is most common, when funds are approved through on-chain governance and processed by Intersect’s Administration. After that, it may occur occasionally based on disbursements or proposals not covered by the current Intersect budget.

</details>

<details>

<summary>2. Review and Approve TRSC Disbursements:</summary>

The OC shall review and approve any disbursements from the TRSC to a destination outside of the smart contract framework, as requested by Intersect from time to time. For disbursement actions, the OC shall specifically check the consistency of the following data points:

* The wallet/destination address matches the provided hashed rationale.
* The hashed rationale is signed by the Executive Director at Intersect and the vendor where relevant (example: Vendor A requesting stablecoins).

The Quorum required is 3 out of 5 OC members.

The expected occurrence is infrequent and on a case-by-case basis. Example use cases are to leverage stablecoins and/or upgrading the smart contract framework if a fix or feature is needed.

</details>

<details>

<summary>3. Review and Approve PSSC Modifications:</summary>

The OC shall review and approve any PSSC modifications (e.g. change in milestone, delivery date, payment schedule), as requested by Intersect from time to time. For modification actions, the OC shall specifically check the consistency of the following data points:

* Confirm the vendor’s receiving address is valid and controlled by the vendor or contracting party (with supporting explanation).

Note:

i) The value of a vendor smart contract cannot be increased after creation

ii) Any changes must also be approved on-chain by the vendor

The Quorum required is 2 out of 5 members are required to sign.

The expected occurrence is infrequent and on a case-by-case basis.

</details>

<details>

<summary>4. Review and Approve Unspent Transaction Output (UTXO) Reorganization:</summary>

The OC shall review and approve any reorganize UTXO actions for TRSCs or PSSCs, as requested by Intersect from time to time. For reorganize UTXO actions, the OC shall specifically check the consistency of the following data points:

* Check that the UTXO details are correct and properly formatted
* Confirm that metadata is included

The Quorum required is 3 out of 5 OC members.

The expected occurrence is infrequent and on a case by case basis.

</details>

<details>

<summary>5. End-to-end process</summary>

Within the context of the budget process to date, the following flowchart illustrates an indicative, high-level end-to-end process for smart contracting, administration, and the oversight committee.

<figure><img src="/files/ZuoSZoKT110aUFSkD6IZ" alt=""><figcaption></figcaption></figure>

</details>

#### Bulleted explanation

* Treasury Withdrawal governance action outlines several proposals to receive funding. Treasury Contracts and oversight committee(s) are created with permissions to control them.
* Funds are distributed into these holding Treasury Contracts based on the success of the Treasury Withdrawal governance action.
* Written legal contracts are pursued and agreed upon with prospective vendors off-chain (constitutionally, these are required)
* On-chain Vendor Contracts are created once the governance action passes, and a written legal contract is signed.
* Vendor commences delivery as per the schedule in the contract
* As per the schedule, the vendor provides attestation of milestone completion to Intersect and on-chain.
* Intersect undertakes its role as the administrator of the oversight committee, and as permissioned, provides necessary checks and balances on the administrator.
* Once a milestone matures and reaches its due date, the vendor can withdraw the funds associated with that milestone. They may specify where the funds go using their credential provided within the legal contract.

### Narrative explanation

Following or during the on-chain Treasury Withdrawal governance action (1), a number of Treasury Contracts will be defined (2). These will outline the budgets or funding themes requested within the original on-chain action. This allows the partitioning of smart contract funds, assisting transparency on-chain.

Partitioning the Treasury Withdrawal has several benefits; it enhances community observability by breaking funds down into more manageable and meaningful groupings, allowing for different sets or granularities of oversight committee permissions between partitions, and improving security by not having all of the total budget in one transaction or account.

The treasury funds stay here until Vendor Contracts are agreed upon. At this point, the funds are held in the smart contract and cannot be delegated or staked, which satisfies provisions within the constitution.

Required by many vendors and to satisfy constitutional requirements, legal contracts (3) will be created between the CDH and the vendors whose proposals have been approved by DReps in the treasury withdrawal governance action.

Following the signing of the written legal contracts, Intersect, as the administrator, will create a back-to-back smart Vendor Contract for individual projects (4).

At this stage, the vendor has a legally written contract that contains constitutional requirements, such as dispute resolution, and a tailored Vendor Contract for the specific project. The vendor now delivers according to the agreed-upon project schedule (5).

Defined by the milestones within a Vendor Contract, the vendor submits and attests milestone acceptance to the community and Intersect (6). Tooling will be configured to link these attestations to the on-chain milestone.

As per the permissions outlined in the Treasury Contract, which is associated with the Vendor Contract, the oversight committee will undertake oversight capabilities for Intersect, the previously described Fund, Modify, and Disperse (7). This assures that in these circumstances, Intersect cannot act unilaterally. As needed, once the ‘M-of-N’ permissions associated with these actions are met, they are enacted and recorded transparently on-chain.

Once a milestone date has matured or reached its due date, the vendor can withdraw the specified milestone amount (8). The process ‘fails open’ to protect vendors should the oversight committee fail in any way. The vendor withdrawal is captured on-chain, so it becomes auditable.

Timeouts are configured so that, at the end of a contract, any unclaimed or locked funds ultimately return to the Cardano Treasury, allowing on-chain governance to decide their use again.

The Treasury Contract and permissions, the Vendor Contracts and permissions, milestones, and vendor payment withdrawals are all captured, transparent, visible, and auditable on the chain.

### Considerations

Given the novel decentralized approach to oversight and the constitutional requirement for traditional written contracts, several considerations must be understood.

* Most importantly, it should be understood that these smart contracts effectively hold money in a transparent on-chain ‘escrow.’ When held in these smart contracts, the treasury funds are never initially in an Intersect account or wallet. These smart contracts lock the ability to stake and delegate.
* Vendors must be aware of how oversight works before signing any contract and how it may affect disbursement or modification. They are consulted before the oversight committee agrees on their particular partition/treasury contract and/or vendor contract.
* Vendors have representation in smart contracts. Not all smart contract actions can be unilaterally undertaken against a vendor. There needs to be a mutual agreement with vendors before smart contracts can be agreed upon, funded, and modified. Some specific actions require a vendor signature via a key before they can be enacted.
* Each escrow environment or treasury contract may have a unique oversight committee makeup and unique permissions. This allows for a level of future-proofing. These smart contracts enable more unique use cases as needed, which can be legally permitted over time.

## Further Information

<table data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h4><strong>Feature Backlog and Credits</strong></h4></td><td>The smart contract framework is evolving. Vendors can contribute ideas or feature requests here.</td><td><a href="/files/i8kOWWQvJRlC4obAFnzP">/files/i8kOWWQvJRlC4obAFnzP</a></td><td><a href="https://github.com/IntersectMBO/budget-management/issues">https://github.com/IntersectMBO/budget-management/issues</a></td></tr><tr><td><h4>Smart Contracts</h4></td><td>Smart contracts were developed by Sundae Labs with support from Input Output Engineering and Intersect.</td><td><a href="/files/rXHQa5pIkCkzJ6Iz4s7X">/files/rXHQa5pIkCkzJ6Iz4s7X</a></td><td><a href="https://github.com/SundaeSwap-finance/treasury-contracts">https://github.com/SundaeSwap-finance/treasury-contracts</a></td></tr></tbody></table>


# Policies & Guidance

In this section you can find everything you need to understand how we work. Administrative policies, procedures, and guidance to support compliant, transparent, and efficient contract management.

<table data-view="cards"><thead><tr><th></th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h4>Administrator Conflict of Interest &#x26; Ethics Policy</h4></td><td></td></tr><tr><td><h4>Administration Financial Audit Policy</h4></td><td><a href="/pages/1fHTDgEmhjcE4F71LEZv">/pages/1fHTDgEmhjcE4F71LEZv</a></td></tr><tr><td><h4>Due Diligence Policy</h4></td><td><a href="/pages/N05Mcyit9YQbNSFvxpAN">/pages/N05Mcyit9YQbNSFvxpAN</a></td></tr><tr><td><h4>Committee Member Travel &#x26; Expense Policy</h4></td><td><a href="/pages/itbe6YHyTEQZ9S9r9GuD">/pages/itbe6YHyTEQZ9S9r9GuD</a></td></tr><tr><td><h4>Delivery Assurance Process &#x26; Best Practice Policy</h4></td><td><a href="/pages/drlMmSXF6gNTPNchkSnx">/pages/drlMmSXF6gNTPNchkSnx</a></td></tr><tr><td><h4>Minimum Contract Requirements</h4></td><td><a href="/pages/R0nTQ52fSZknlevrO9J7">/pages/R0nTQ52fSZknlevrO9J7</a></td></tr><tr><td><h4>Supplier Code of Conduct</h4></td><td><a href="/pages/mf7p12FnDTGcludXgvP2">/pages/mf7p12FnDTGcludXgvP2</a></td></tr><tr><td><h4>Technical Review Policy</h4></td><td><a href="/pages/j6YbsA8UrQsufsZ5XzPV">/pages/j6YbsA8UrQsufsZ5XzPV</a></td></tr><tr><td><h4><strong>Third Party Assurer Policy</strong></h4></td><td><a href="/pages/L4ueUBXMDAqtujwlU6zY">/pages/L4ueUBXMDAqtujwlU6zY</a></td></tr><tr><td><h4>Vendor Delegation of Authority Policy</h4></td><td><a href="/pages/1bUaLkP65GIAef65MLAk">/pages/1bUaLkP65GIAef65MLAk</a></td></tr><tr><td><h4>Vendor Change Request Policy</h4></td><td><a href="/pages/f7DiGMRAQxlKTeKxF6tg">/pages/f7DiGMRAQxlKTeKxF6tg</a></td></tr></tbody></table>


# Administrator Conflict of Interest & Ethics Policy

**1. Policy** **Title:** Intersect Administrator Conflict of Interest and Ethics Policy

**2. Version:** 1.0

**3. Effective Date:** 08/05/2026

**4. Review Date:** 08/05/2027

**5. Policy Owner:** Operations Director

**6. Policy Sponsor:** Intersect Executive Director

***

**7. Purpose:**\
The objectives of this policy are to define ethical benchmarks for Intersect staff in their management of operations, vendor partnerships, and the governance of digital assets. By upholding high standards of transparency and integrity in contract and project management, Intersect ensures that all administrative actions serve the organization’s primary interests rather than individual gain. Ensuring compliance with US federal laws ([BSA](https://www.fincen.gov/resources/statutes-regulations/bank-secrecy-act), [SEC Acts](https://www.sec.gov/about/laws/securities-act-1933), [Financial Innovation and Technology for the 21st Century Act](https://www.govinfo.gov/app/details/BILLS-118hr4763eh) (FIT21 Act)) and international standards ([IOSCO](https://www.bis.org/fsi/fsisummaries/ioscoprinciples.htm), [MiCA](https://finance.ec.europa.eu/regulation-and-supervision/financial-services-legislation/markets-crypto-assets-mica_en),[ ELI](https://www.europeanlawinstitute.eu/projects-publications/projects/eli-principles-on-blockchain-technology-smart-contracts)).&#x20;

We believe that ethical governance is not simply a compliance requirement; it is a cornerstone of Intersect's integrity and a reflection of the trust placed in us by the Cardano community and the wider ecosystem we serve.

**8. Scope:**

This policy mandates disclosure of personal, financial, or other such relationships that could impair Intersect’s objective judgement, with the aim of preventing corruption, favoritism and reputation damage. This applies to all Intersect’s Administrators, Advisors, Committee members and anyone with delegated authority.&#x20;

This covers actual, potential, or perceived conflicts, including financial interests, secondary employment, and personal relationships to support Intersect’s governance integrity and protect Intersect and the wider Cardano ecosystem.\
\
This Policy applies across all administrative activities, including:

* Vendor Onboarding;
* Smart Contract Deployment and Refinements;
* Digital Asset Issuance;
* Milestone Acceptance;
* Third Party Assurer (TPA) nomination and review;
* Oversight Committee member activities;
* AML/KYC/KYB Oversight;
* Reporting and Transparency obligations; and
* Governance decisions affecting global stakeholders.

This Policy acts as the definitive guideline on when and how Intersect Administrators must identify, disclose, and escalate any actual, potential, or perceived conflict of interest to the relevant authorised personnel.

**9. Principles:**

The following principles underpin this Policy and must guide all administrative decision-making at Intersect:

Independence: Intersect shall maintain its independence and take all reasonable steps to avoid undue influence from vendors, suppliers, validators, committee members, or ecosystem partners;

Administrative Integrity: Intersect shall uphold administrative integrity consistent with the IOSCO Principles;

Transparency: Intersect shall ensure transparency in all decisions affecting digital asset issuance or governance; and

Regulatory Compliance: Intersect shall avoid any actions that could trigger disclosure obligations or give rise to liability under applicable US or international regulatory frameworks, including the Securities Act of 1933 and the Securities Exchange Act of 1934.

**10. Definitions:**

* Conflict of Interest - Any situation where actual, potential, or perceived interests may compromise the ability to perform a service independently.
* Intersect - any individual performing administrative functions on behalf of Intersect, including those with delegated authority.
* Personal Interest - Financial, relational or reputational benefit to Intersect or Associated party.
* Material Benefit - Financial gain, preferential treatment or influence that could be beneficial to an associated party
* Related Party - Any Affiliated entities, Individuals and overseers.
* Ethical Conduct - Integrity, fairness and transparency within Intersects’ Administrative Business dealings.
* Legal Contract - The legal contract, being a contract entered into by Intersect in its capacity as Administrator on behalf of the Cardano ecosystem.
* Smart Contract - The on-chain contract that holds and controls funds transparently with limited, permissioned actions.&#x20;
* Third Party Assurer (TPA) - An independent entity nominated to verify that vendor project deliverables meet the technical requirements and standards agreed under the relevant PSSC.
* Oversight Committee (OC) -  The body responsible for overseeing Intersect's performance as an Administrator and for ensuring compliance with applicable standards.

**11. Policy Statements:**

**11.1 Integrity, Impartiality, and Transparency**

Interesect strives to uphold the integrity of the Cardano ecosystem through impartiality and transparency in Administrative relationships and governance activities.

**11.2 Ethical Conduct and Governance Standards**

Intersect is committed to maintaining the highest standards of ethical conduct in Administrative and governance activities in business relationships to business partnerships, suppliers, vendors and any such relationships with other third parties.

Intersect shall conduct its activities in accordance with applicable legal, regulatory, and industry standards, including obligations arising under:

* Bank Secrecy Act (BSA)
* Financial Innovation and Technology for the 21st Century Act (FIT21)
* International Organization of Securities Commissions (IOSCO) Principles
* Securities Act of 1933 (SEC)
* European Law Institute (ELI) Principles
* Markets in Crypto-Assets Regulation (MiCA)

**11.3 Conflicts of Interest**

Intersect must disclose, avoid and appropriately manage any actual, potential or perceived conflicts of interests, and must ensure that vendors adhere to Intersect’s ethical standards throughout the duration of the process, particularly when dealing with third parties and verification overseers.

Intersect’s Administrators must act in the best interests of Cardano ecosystem and its community, prioritising fairness, administrative integrity and responsible governance.

Intersect must not use their position, access to information, or any authority entrusted to them for personal gain or to confer a Material Benefit on any Related Party.

**11.4 Third-Party Assurer Independence and Integrity Requirements**

Third-Party Assurers (TPAs) are critical in ensuring that vendor deliverables meet the agreed technical, legal, and smart contract defined for each project. To maintain the integrity and impartiality of the assessment process, TPAs must adhere to the following ethical standards:

* Third-Party Assurers (TPAs) must be genuinely independent of the delivery team and must not be part of the same organisation, subsidiary, or contractor group.
* TPA’s must not hold any interests; direct or indirect, that could influence or appear to influence their judgement.
* TPAs must maintain complete separation from any group responsible for approving, funding or directing the work they are assessing.
* TPAs must not report to, be influenced by or be a member of any committees that may have direct influence over the project being assessed.
* TPAs must also be independent of any Intersect Committees.

**11.5 Responsible Conduct and Due Diligence in External Relationships**

Intersect must ensure that vendors, suppliers, contractors, verification overseers, and other third parties adhere to Intersect’s ethical standards throughout the duration of any engagement or contractual process.

Intersect shall not act as Administrator for any entity or individual that:

* Is subject to sanctions; or
* Is associated with adverse AML, KYB, KYC or related compliance concerns,

as further described in Intersect’s Due Diligence Policy.

**11.6 Ethical Operational and Smart Contract Governance**

Ethical governance practices must be embedded into all operational, financial, and smart‑contract‑related decisions made by Intersect and its staff.\
\
Intersect must ensure that appropriate safeguards are established and maintained to support proper oversight and verification of the progress and completion of milestones under all applicable legal and Smart Contracts .

**11.7 Oversight Committee and Restrictions**

Oversight Committee members must avoid any situation that could reasonably be perceived as a Conflict of Interest with their assigned Assurance Task. Where such a situation arises, the relevant OC member must promptly disclose it and recuse themselves from the relevant decision-making process.\
\
Members of the Oversight Committee are prohibited from acting as a vendor under any PSSC. Where such a situation cannot be avoided, the OC member must make a full disclosure, step back from all related decisions, and remain transparent about the nature of the situation throughout.

**12. Roles and Responsibilities:**\
This section clarifies the roles and responsibilities of all parties involved in the administrative process.&#x20;

* Intersect- Responsible for providing oversight, maintaining adherence to compliance standards, and upholding accountability across all administrative activities. Intersect are the primary point of responsibility for identifying, disclosing, and managing Conflicts of Interest as they arise.
* Third- Party Assurers - TPAs are responsible for ensuring that vendor project deliverables meet the technical requirements and agreed standards set out under the relevant legal and Smart Contracts. TPAs must operate with full independence of direct or indirect influence as outlined above.
* Oversight Committee (OC) - The OC is responsible for overseeing Intersect's performance as an Administrator and for ensuring that Intersect adheres to applicable compliance standards. The OC acts as a critical check on administrative processes and must operate with independence and integrity.
* Executive Leadership/Board - Executive Leadership and the Board are responsible for approving policy updates, ensuring that adequate resources are allocated to compliance and monitoring activities, and providing strategic direction on ethical governance matters.

**13. Procedures**

**13.1 Conflict Disclosure Procedure:**\
Intersect and Oversight Committee members must promptly disclose any relationship, association, or personal interest that may give rise to, or be perceived as giving rise to, a Conflict of Interest. Such disclosures must be made as soon as the potential conflict is identified and must include, as a minimum:

* Any financial interests in vendors, suppliers, or other counterparties;
* Any relationships relevant to AML/KYC/KYB oversight activities; and
* Any relationships with validators connected to a relevant legal or Smart Contract.

Disclosures must be made in writing, or by email to <procurement@intersectmbo.org>.

**13.2 Third-Party Assurer Nomination**\
Intersect must ensure that vendors nominate a TPA that has no prior affiliation with, or personal responsibility to, the nominating vendor.

* Intersect are responsible for requesting all relevant information about the nominated TPA and for confirming that the TPA maintains ethical independence and transparency in accordance with Intersect's compliance guidelines.
* Where a Conflict of Interest risk is identified in respect of a nominated TPA, Intersect must require the vendor to nominate a replacement TPA before any assessment work commences.

**13.3 Escalation procedures**\
Intersect retains full liability for all vendor proposal contracts, including sole responsibility for pausing and resuming milestone payments as appropriate.

* Nothing in this Policy, or in the processes it envisages, shall operate to transfer any of Intersect's responsibilities or liabilities to the Oversight Committee (OC).
* When Intersect becomes aware of a serious or unresolved Conflict of Interest, it must be reported immediately to Executive Leadership.

**13.4 Conflict Review Procedure**

* The Executive Leadership must review all submitted conflict disclosures within ten (10) working days of receipt.
* Mitigation actions identified during the review must be documented clearly, along with any steps required to manage or resolve the conflict.
* A record of all disclosures, reviews, and mitigation actions must be retained in accordance with Intersect's documentation standards.

**14. Monitoring and Compliance:**

**14.1 Oversight Committee Composition**

* The Oversight Committee (OC) shall consist of no fewer than five (5) and no more than seven (7) members at any given time. This range is intentionally designed to balance the risk of conflicts of interest against operational efficiency and cost.
* Intersect must ensure that the Oversight Committee is maintained and operated in the best interests of the Cardano community at all times.
* It is Intersect's responsibility to identify and appoint a suitable replacement where any Oversight Committee member voluntarily leaves or is formally removed from their role.

**14.2 Documentation and Record-Keeping**

* All conflict disclosures, compliance reviews, TPA nomination records, and escalation outcomes must be documented and retained in a manner consistent with Intersect's internal documentation standards and applicable regulatory requirements.

**15. Review and Amendment:**\
This Policy must be reviewed at least annually. Reviews must take into account any updates to relevant compliance guidelines, applicable law, and regulatory frameworks.

Amendments to this Policy must be approved by Executive Leadership before taking effect. All Intersect staff  must be notified of any updates in a timely manner, and any associated training requirements must be communicated clearly.

Significant regulatory changes; such as material updates to the FIT21 Act, MiCA, or IOSCO Principles; may trigger an out-of-cycle review at any time, at the discretion of Executive Leadership or the Compliance Officer.

**16. Related Documents/References:**\
[Intersect Due Diligence Policy<br>](https://admin-services.docs.intersectmbo.org/governance/policies-and-guidance/due-diligence-policy)[Technical Review Policy<br>](https://admin-services.docs.intersectmbo.org/governance/policies-and-guidance/technical-review-policy)[Transparent Dealings Policy](https://docs.intersectmbo.org/intersect-knowledge-base/legal/policies-and-conditions/intersect-members-policies/transparent-dealings-policy)\
[Delivery Assurance Process and Best Practice Policy](https://admin-services.docs.intersectmbo.org/governance/policies-and-guidance/delivery-assurance-process-and-best-practice-policy)

[Financial Innovation and Technology for the 21st Century Act](https://www.govinfo.gov/app/details/BILLS-118hr4763eh)&#x20;


# Administration Financial Audit Policy

**1. Policy Title:** Administration Financial Audit Policy

**2. Version:** 1.1

**3. Effective Date:** 15 June 2025

**4. Review Date:** Annually, next applicable 15 June 2027

**5. Policy Owner:** Head of Operations

**6. Policy Sponsor:** Intersect Executive Director

*Updated on 11 March 2026*

***

**7. Purpose:**

To ensure a consistent understanding of Intersect’s policy regarding financial auditing, where Intersect is acting as an administrator for public proposals in accordance with the Cardano Constitution.

**8. Scope:**

This policy applies to the beneficiary, as defined below, who enters into contractual relationships, transactions, or projects with Intersect or with Cardano Development Holdings (CDH) where Intersect is acting as its Administrator.

**9. Principles:**

This policy is founded on principles of openness, accountability, and the right to information, fostering trust among stakeholders/the community. It ensures a common understanding and example(s) of financial auditing requirements for proposals as expected by Intersect.

**10. Definitions:**

* **Beneficiary:** Individual and/or Company who will be receiving funds and/or entering into contractual relationships with Intersect or with CDH where Intersect is acting as its Administrator.
* **Cardano Budget Proposal:** A request for funding from the Cardano Treasury that will be measured by milestone deliverables.
* **Cardano Development Holdings (CDH):** CDH is a legal entity created to support the Cardano ecosystem by acting as the contracting counterparty for approved proposals by DReps.
* **Cardano Treasury:** A treasury system is a community-controlled, decentralized collaborative decision-making mechanism for sustainable funding of the underlying blockchain development and maintenance.
* **Delegated Representatives (DReps):** A role introduced in the Age of Voltaire as part of the governance model proposed under CIP-1694. DReps, stake pool operators, and the Constitutional Committee are responsible for voting on governance actions. Any ada holder can register as a DRep.
* **Ecosystem Risk:** Where the security, functionality, performance or long-term sustainability of the Cardano Blockchain may be affected.
* **Financial Audit:** Review of effective fund disbursement and utilization, taking the format of basic, intermediate or full assurance depending on the tier of audit required, ensuring full alignment with contract milestones approved by DReps.
* **Intersect:** Intersect serves as an Administrator within Cardano’s funding ecosystem, helping to operationalize community-approved proposals by coordinating due diligence, contracting, and on-chain disbursements. This role is grounded in the principles of transparency, decentralization, and adherence to the Cardano Constitution.
* **Oversight Committee:** Group of individuals who hold permissioned set of keys that provide checks and balances against Intersect’s administration.
* **Periodic/Periodically:** For each Statement of Work (SoW) term, a financial audit is required. Should an SoW extend beyond 12 months, a financial audit will be conducted annually.
* **Tier Criteria:** The level of audit requirement expected in relation to the size of funding received.

**11. Policy statements:**

* Constitutionally, all proposals are required to adhere to the following: Any governance action requesting ada from the Cardano Blockchain treasury shall require an allocation of ada as a part of such funding request to cover the cost of periodic independent audits and the implementation of oversight metrics as to the use of such ada. (Section 4, ARTICLE IV. THE CARDANO BLOCKCHAIN ECOSYSTEM BUDGET)
  * After the point of distribution by an administrator, should it be required, beneficiaries are required to Periodically provide an assessment of the use of any such ada received from this point onward.
* Constitutionally, all administrators of treasury funds are required to adhere to the following; any ada received from a Cardano Blockchain treasury withdrawal, so long as such ada is being held directly or indirectly by an administrator prior to further disbursement, must be kept in one or more separate accounts that can be audited by the Cardano Community, and such accounts shall not be delegated to an SPO but must be delegated to the predefined auto-abstain voting option (Section 5, ARTICLE IV. THE CARDANO BLOCKCHAIN ECOSYSTEM BUDGET)
  * As an administrator, Intersect will provide periodic reporting which demonstrates any ada received as part of a Cardano Blockchain treasury withdrawal is;
    * Kept in one or more separate accounts
    * Which can, as practically possible, be audited by the community or part thereof
    * Not used for any delegation to an SPO, but delegated to the predefined auto-abstain, where practically possible.
    * This does not replace Intersect's legal requirements for any business compliance, auditing or reporting needed as a registered entity.
* As outlined in the Constitution, Financial Auditing is not intended to assess value, profit, or margin. Its sole purpose is to verify that treasury funds were used as approved, specifically for the intended proposal and its stated benefits.
* This does not replace Intersect's legal requirements for any business compliance, auditing or reporting needed as a registered entity.

**12. Roles and responsibilities:**

**Intersect (administrator)**

Intersect serves as an administrator, offering guidance. Intersect can advise but not enforce constitutional requirements. In relation to Section IV of Cardano’s Constitution, Intersect will:

* Provide expert advice on financial best practices.
* Offer recommendations to enhance audit processes and financial oversight.
* Offer audit coordination services, ensuring the initiation of necessary audits for each contract associated with the Cardano Treasury and providing support and guidance.
* Ensure that all financial activities align with contractual agreements originally approved by the DReps.
* Put in place reporting mechanisms to ensure clear and timely communication, including conducting Delivery Assurance checks and promptly escalating any identified issues, discrepancies, or risks.
* Provide Periodic reporting which demonstrates the use of any ada as far as distribution to beneficiaries. This requirement and the level of assessment are based on the beneficiaries’ tier.

**Beneficiary**

The Beneficiary holds a critical role in maintaining financial integrity and transparency:

* Taking full accountability for the responsible use of received funds, ensuring alignment with approved proposals.
* Upholding transparency in all financial dealings related to the funds.
* Audit Cooperation: Collaborating completely with independent reviewers where applicable, providing all requested documentation in a timely manner.
* Responding promptly and thoroughly to all audit questions and inquiries.

**13. Procedures:**

This section outlines the step-by-step processes for planning, conducting, and finalizing financial audits of beneficiaries. These procedures ensure that all beneficiaries are held to appropriate standards of financial transparency. There are tiered audit expectations scaled by funding level and/or economic risk.

**Audit tier**

**Tier criteria**

**Audit requirement level**

**Examples**

**Tier 1 - Basic Assurance**

* Treasury Exposure: Low Proportion of Cardano Treasury Funding.
* Economic Risk: Minimal or low-risk profile.

**Basic Assurance**

* Provide basic, independently verifiable documentation or on-chain evidence showing that funds reached the intended recipients.
* Self-attestation permitted (eg showing total funds received per individual via on-chain transactions).
* Low Ecosystem Risk: non-core functionality with minimal sustainability or market impact.
* Treasury funds are small, easily refundable or recoverable.

**Tier 2 - Intermediate Assurance**

* Treasury Exposure: Moderate Proportion of Cardano Treasury Funding.
* Economic Risk: Acceptable or moderate risk profile.

**Intermediate Assurance**

* Supply clear, independently verifiable evidence that funds were used in line with the approved proposal.
* Verification by a capable third-party auditor or detailed on-chain records that enable community-led audit (eg milestone-based transactions).
* Maintain complete financial records and participate in milestone reviews.
* Implement corrective action plans for any audit findings.
* Moderate Ecosystem Risk: projects delivering broadly useful functionality or serving specific user groups, with some potential market impact.
* Treasury funds are moderate and may be harder to recover.

**Tier 3 - Full Assurance**

* Treasury Exposure: High or significant proportion of Cardano Treasury Funding.
* Economic Risk: Elevated or significant risk profile.

**Full Assurance**

* Formal third-party audit engagement is mandatory.
* An independent audit conducted by a qualified external auditor to verify proper use of treasury funds.
* Auditors must provide formal assurance that funds were used strictly as approved in the proposal.
* High Ecosystem Risk: single points of failure or unique solutions, with significant potential market impact.
* Treasury funds are large and difficult to recover or reimburse.

**14. Monitoring and compliance:**

* **Monitoring:** Intersect, as the administrator will monitor the completion of milestones, documentation and payment throughout the contract lifecycle, overseeing that the appropriate financial audit is undertaken.
* **Compliance:** Financial records should be kept for a minimum of 7 years for IRS compliance. Significant audit findings and compliance breaches may be disclosed to the community through public reports and escalated to DReps as appropriate, in alignment with transparency commitments.

**15. Review and amendment:**

To ensure the policy remains current and effective, it will be reviewed at least annually. In response to significant organizational changes or regulatory updates, the policy will be updated as required by the Intersect Operational Services team and approved via the Intersect Executive team.

**16. Related documents/references:**

This policy should be read in conjunction with the following documents, guidelines and regulatory frameworks:

* Cardano governance and policy documents
  * [Intersect as an Administrator](https://docs.intersectmbo.org/cardano/cardano-budget-submission/intersect-as-an-administrator)
  * [Cardano Treasury](https://docs.intersectmbo.org/cardano/cardano-economy/cardano-treasury)
  * [Cardano Constitution](https://constitution.gov.tools/en/constitution)
  * [Technical Review Policy](https://docs.intersectmbo.org/intersect-knowledge-base/legal/policies-and-conditions/intersect-administration-policies/technical-review-policy)
  * [Delivery Assurance and Best Practice Policy](https://docs.intersectmbo.org/intersect-knowledge-base/legal/policies-and-conditions/intersect-administration-policies/delivery-assurance-process-and-best-practice-policy)
  * [Transparency Policy](https://docs.intersectmbo.org/intersect-knowledge-base/legal/policies-and-conditions/intersect-members-policies/transparent-dealings-policy)
* External regulation and best practices
  * [International Financial Reporting Standards (IFRS)](https://www.ifrs.org/)


# Committee Member Travel & Expense Policy

**1. Policy Title:** Intersect Committee Member Travel & Expense Policy

**2. Version:** 1.1

**3. Effective date:** 09/03/2026

**4. Review Date:** 09/03/2027

**5. Policy Owner:** Intersect Finance Team

**6. Policy Sponsor:** Director of Operations

***Updated On: 18/03/2026***

***

**7. Purpose:**

This policy provides clear guidance for Intersect Committee members and other approved external participants on travel and related expenses incurred on behalf of Intersect under contracts relating to Intersect Committees. It sets out rules for planning, booking, approvals, reimbursements, and per diem cap to ensure fair, transparent, and cost-effective financial practices.

As these expenses are Treasury-funded public funds, this policy ensures that all spending decisions reflect the responsible use of public money and maintain public confidence in how funds are used.

**8. Scope**

This policy applies to external participants invited by Intersect to attend business-related travel or events, including conferences, workshops, and community activities. It does not apply to personal travel or unapproved events.

**9. Principles**

* **Reasonableness:** Expenses must be directly related to Committee-approved travel or events.
* **Fairness:** Eligibility and reimbursements are applied consistently.
* **Accountability:** Clear documentation and receipts are required for all claims.
* **Cost-effectiveness:** Travel and accommodation must balance comfort and financial prudence.
* **Compliance:** Travel must adhere to relevant legal, tax, and immigration requirements.
* **Safety & Wellbeing:** Committee member’s health and safety should be considered and take priority in all travel decisions; however, travel is undertaken at the Committee member’s own risk.
* **Responsible Use of Public Funds:** All spending must be appropriate and transparent, recognising that costs are funded by public money.

**10. Definitions**

* **Reimbursable Expense:** A cost incurred while participating in approved Intersect activities.
* **Non-Reimbursable Expense:** Personal costs that are not supported by Intersect (e.g. leisure, upgrades, fines).
* **Per Diem:** A country-specific cap reimbursable amount to cover daily incidental expenses (e.g. meals, small transport costs) during approved business travel. Reimbursement is limited to actual expenses incurred and must be supported by itemized receipts.

**11. Policy Statements**

**11.1 General Requirements**

* All travel must be pre-approved by the Committee Chair and Intersect’s designated contact (Committee Secretary).
* Expense claims must be submitted within 30 days post travel.
* All expenses must be supported by valid itemized receipts.

**11.2 Reimbursable Expenses**

**Eligible costs include:**

* **Travel:** Public transport, economy flights, trains, taxis (where necessary and justified), mileage (at IRS standard rate).
* **Accommodation:** Reasonably priced hotel stays, pre-approved by the Committee Chair and aligns with the Committee Budget.
* **Meals:** Covered via country-specific per diem cap.
* **Event-related costs:** Registration fees, visas, and travel insurance.

**11.3 Non-Reimbursable Expenses**

**Intersect will not reimburse:**

* Personal holidays, leisure activities, or unapproved travel.
* Fines, penalties, parking tickets.
* Unauthorized upgrades (first-class flights, luxury hotels).
* Costs without valid receipts/documentation.
* Personal services (pet care, clothing, subscriptions).
* Per diem claims without supporting receipts or exceeding the country-specific cap.

**12. Procedures/Claim**

All events and travel must be pre-approved by the Committee.

**12.1 Travel and Event Booking**

**12.1.1 Travel-related costs:**

* Travel should be booked by the individual and then reimbursed post travel. This is unless otherwise directed. If you wish to expense anything that exceeds these limits, this will need to be discussed and approved by Committee and Intersect Executive.
* **Flights:**
  * We advise that all flights must be Economy class unless flying over 6 hours, the class of this flight is to be agreed by the Committee. Flights should have layovers ≥ 1.5 hrs to avoid missed connections. This is to ensure that it falls within the budget constraints of:
  * Flights up to 4 hours max $500 (inclusive of luggage allowance)
  * Flights from 4 hours up to 6 hours max $1000 (inclusive of luggage allowance)
  * Flights over 6 hours max $2000 (inclusive of luggage allowance)
* **Accommodation:** ≤ $300/night unless pre-approved.
* **Train:** ≤ $250 round trip.
* **Car Rental:** ≤ $100/day.
* **Taxis:** Permitted where practical; receipts required.
* **Visas & Passports:**
  * Committee members are responsible for ensuring passports and visas are valid for travel.
  * If you require a visa for travel please make this known to the committee before travel is agreed.
  * No travel or event bookings are to be made without valid passports and/or visas.
* **Travel Health, Insurance & Entry Requirements:**
  * Committee members are solely responsible for ensuring compliance with all passport, visa, work authorization, vaccination, immunization, health testing, and other governmental or carrier entry requirements applicable to their destination(s). No travel or event bookings may be made without valid required documentation.
  * Committee members are responsible for obtaining any required or recommended vaccinations, medical precautions, and health documentation. All associated costs are the Committee member’s responsibility unless expressly agreed in writing in advance.
  * Committee members must maintain adequate personal health and travel insurance coverage, including coverage for international medical care and emergency evacuation where applicable. Intersect does not provide insurance coverage for Committee members unless explicitly stated in a written agreement.
  * Intersect shall not be liable for denied entry, quarantine, medical expenses, evacuation costs, travel interruptions, or any illness, injury, loss, damage, delay, or expense arising from business travel.
* **Accessibility and Special Requirements:** In recognition of individual accessibility or health needs, exceptions to the standard travel and accommodation limits may be approved on a discretionary, case-by-case basis by Intersect. Supporting documentation may be requested to ensure transparency.

**12.1.2 Event-related costs:**

* Any event-related costs must be approved by the Committee and Intersect prior to booking.
* These include but are not limited to registration fees, visas, and travel insurance.

**12.2 Per Diem Cap**

* Committee members are eligible for reimbursement up to the country-specific per diem cap in line with [Intersect’s Per Diem Guidance](https://docs.google.com/spreadsheets/d/1NSG6wi2FKAaocwon8pdc4dFvqDQrT_orlEMskFOP7Lg/edit?gid=0#gid=0).
* Per diem covers meals and incidental expenses.
* Where meals are provided at an event, the per diem will be reduced accordingly.
* Reimbursement is strictly limited to actual expenses incurred and supported by itemized receipts.

**12.3 Approval & Claim Process**

* **Pre-Approval:** Required for all travel, accommodation, and significant expenses. This approval should be from the Committee Chair.
* **Submission:** Claims must be submitted by the Committee Secretary, via the Clickup Committee Procurement Request Form, to ensure tracking of all incoming pre-approved requests. All claims, including per diem, must have itemized receipts along with proof of approval.
* **Review & Approval:** Claims are reviewed by the Intersect contact and processed by Finance.
* **Reimbursement Timeline:** Approved claims reimbursed within the next payment cycle.

**13. Roles & Responsibilities**

* **Committee Members:** Submit valid expense report claims with receipts, seek pre-approval, and comply with policy. Compliance with passport, visa, health, vaccination, insurance and other travel requirements remains solely the Committee member’s responsibility.
* **Committee Chair:** Pre approve expense and travel requests
* **Committee Secretary:** Submit all pre-approved expense and travel requests via the Clickup Procurement Request Form.
* **Procurement Team:** Review and process requests, ensure compliance.
* **Finance Team:** Process reimbursements, reject non-compliant claims, audit submissions.

**14. Monitoring & Compliance**

* The Finance Team will audit claims regularly.
* Non-compliance (e.g. late submissions, unapproved costs) may result in reimbursement rejection.
* Fraudulent or repeated non-compliance may affect future eligibility for sponsorship.

**15. Related documents**

* [Intersect’s Per Diem Guidance](https://docs.google.com/spreadsheets/d/1NSG6wi2FKAaocwon8pdc4dFvqDQrT_orlEMskFOP7Lg/edit?gid=0#gid=0)

**16. Review & Amendment**

This policy will be reviewed annually or earlier if required by operational, financial, or legal changes.


# Delivery Assurance Process and Best Practice Policy

**1. Policy title:** Delivery Assurance Process and Best Practice Policy

**2. Version:** 1.3

**3. Effective date:** 1st April 2026

**4. Review date:** Annually, next applicable June 2027

**5. Policy owner:** Operations Director

**6. Policy sponsor:** Intersect Executive Director

***

**7. Purpose:**

This document is intended to provide guidance to all beneficiaries (as defined below) working under contracts administered by Intersect, including smart contracts and legal contracts. This guidance aims to clarify how beneficiaries can align with Intersect’s Delivery Assurance (DA) process to ensure contracts are executed transparently, with accountability, and in line with community expectations.

**8. Scope:**

This policy applies to the beneficiary, as defined below, who enters into contractual relationships, transactions, or projects with Intersect or with Cardano Development Holdings (CDH) where Intersect is acting as its Administrator.

**9. Principles:**

This policy is founded on principles of openness, accountability, and the right to information, fostering trust among stakeholders/the community. It ensures a common understanding of Delivery Assurance requirements across all proposals.&#x20;

**10. Definitions:**

* Beneficiary: Individual and/or Company who will be receiving funds and/or entering into contractual relationships with Intersect or with CDH where Intersect is acting as its Administrator.
* Cardano Development Holdings (CDH): CDH is a legal entity created to support the Cardano ecosystem by acting as the contracting counterparty for approved proposals by DReps.
* Milestone(s) means the dates by which a part or all of the Services is to be completed, as set out in a Statement of Work.
* Milestone Acceptance Form (MAF): This is a written attestation in the form of a standard template, submitted by a vendor, for each milestone.
* Intersect: Intersect serves as an Administrator within Cardano’s funding ecosystem, helping to operationalize community-approved proposals by coordinating due diligence, contracting, and on-chain disbursements. This role is grounded in the principles of transparency, decentralization, and adherence to the Cardano Constitution.
* Statement of Work means the document describing the Services and Deliverables to be provided by the Vendor, the Milestones, date of completion, expected quality standards, and associated fees.&#x20;

**11. Policy statements:**

* Beneficiaries remain fully responsible for delivering quality and value. Through transparency and sharing of milestone progress, reputation and open accountability keep the Cardano community is informed of development and treasury spend.
* The MAF and invoice must be submitted within 5 business days of milestone completion.&#x20;
* If, in the opinion of Intersect (acting as the Administrator), the Milestone is incomplete or insufficiently completed, it is understood that payment may be delayed until the Milestone is complete. A consecutive failure to successfully complete a Milestone on two or more occasions may result in the termination of the Agreement or the corresponding Statement of Work.

**12. Roles and responsibilities:**

* The person responsible for producing the work, e.g. Project Lead / Technical Owner - Responsible for executing the work. They confirm via the MAF that the completed milestone accurately reflects the milestone description and meets all defined acceptance criteria.
* Third-party Assurance signature - Responsible for the secondary verification, ensuring the milestone has been reviewed and that its delivery meets the acceptance criteria defined in the contract (examples of this are below).
* Intersect Delivery Assurance - Responsible for overseeing the administrative process, ensuring adherence by both the vendor and the second attestor.

**13. Procedures:**

* **Contract initiation:** When writing a SoW, consider how to clearly break up the work into tangible milestones. This will be checked and formally agreed with the Intersect Procurement team prior to contract signature.

* **Milestone description:** When naming and describing a milestone, consider the following principles:
  * **Be concise and specific -**  Avoid vague language or technical jargon. Aim for language that even a non-SME community member could understand.
  * **Be outcome-based -** Focus on what will be delivered, not what will be done. Think about what the end-user or Cardano community will receive as a result.
  * **Use consistent naming and numbering -**  Number and name milestones clearly so they can be tracked and referenced easily throughout the project lifecycle.
  * **Set realistic, achievable milestones -** over-ambitious milestones can demotivate and cause delays.&#x20;
  * **Timeline -** provide a realistic timeline that when the milestone will be completed by. Build in contingency to these dates where appropriate.

* **Acceptance criteria:** Each milestone should have clear and testable acceptance criteria. These serve as the basis for milestone review and approval. Good acceptance criteria should be:

  * **Measurable and objective –** They can be independently verified by reviewers.
  * **Output-driven –** Evidence of delivery should be visible and public where appropriate (eg GitHub commits, documentation, videos, working demos).
  * **Binary –** Criteria should define whether the milestone is complete or not, leaving no room for interpretation.

* **Third-party assurance:** To ensure adequate delivery assurance and oversight, each milestone is required to have a second capable vendor/person/organization who can help attest to the quality delivered and the milestone being complete. From the beneficiary’s perspective, this approach provides increased transparency to the Community and objective verification strengthening the quality of the milestone being delivered. This assurer does not need to be the same person throughout the contract if the beneficiary believes that a better person is suited to a particular milestone.&#x20;

\
When selecting the third-party assurer, please ensure:

* The assurance provider is genuinely independent of the delivery team, from a different company, and independent of any key stakeholders with vested interests.
* They have the necessary expertise relevant to the deliverable being assessed.
* They are independent of an Intersect Committee.

Intersect Delivery Assurance team will verify with the vendor that the third party assurer is acceptable and falls within these conditions.

* **Contract management:** Once the milestone is complete, a completed [Milestone Acceptance Form (MAF)](https://docs.google.com/document/d/1c1kC5q7LwHpQNGHdq9uXv5o5LNHXlDbxCJXtvMeenkA/edit?tab=t.0) must be submitted to Delivery Assurance. Below is some guidance on what to include.
* **Milestone Name(s) & Number(s):** To enable identification of the milestone, this should be written as per the contract.
* **Milestone Description:** Include the milestone description as per the contract to help reviewers and the community to understand the milestone context.&#x20;
* **Acceptance Criteria Met:** Explain how the work meets the contract’s acceptance criteria and describe what was delivered. To facilitate approval by the Delivery Assurance team, please include supporting links where possible. Ensure they are visible to stakeholders to support progress tracking and communication and also to support the Delivery Assurance process in verifying your work. These may include:
  * GitHub repositories or pull requests
  * Testnet/mainnet deployment addresses
  * Public documentation
  * Demo videos
  * Reports or audits
  * Open community AMAs and demonstrations
* **Quality and Testing:** Demonstrate how the milestone meets quality expectations (eg, responsive design, production deployment). Describe how the quality of this milestone was assessed; see below for some guidance:
  * Automated Testing
  * Manual Testing
  * Code Review / Peer Review
  * User Acceptance Testing (UAT)
  * Issue Tracking & Bug Fixes
  * CI/CD Validation
  * Security Testing
  * Stakeholder Feedback Collection
  * Community Review / Public Sharing
  * Expert or Committee Review
* **Public Communication Summary:** This section can be useful for the community to follow the progress of the project. Write a summary that can be shared publicly. Use the following pointers as guidance: ***Project Purpose, Context,  Milestone Achievement, Benefits to the Community.*** Include a link to where the community can find project or progress updates. Below is some guidance on how to do this:
  * Explain what the project is about
  * What was achieved in the milestone
  * Why it matters
  * How does it benefit the network or community
  * Transparent Project Planning and progress updates.
  * Public project board.
  * Maintain a public GitLab repo or equivalent.
  * Include a milestone roadmap / timeline and anticipated delivery dates.
  * Document progress, changes and blockers in GitLab or other publicly accessible platforms (eg a blog).
  * Community-friendly, plain English language.
  * Beneficiaries are also encouraged to host regular  Ask Me Anything (AMA) sessions.
* **Signature Authorization:** The final section of the form requires signature from three parties: The person responsible for producing the work, Third-party Assurance and Intersect Delivery Assurance. Where applicable, make sure any other policy or constitutional requirement deemed necessary by the administrator has been fulfilled.
* **Incomplete MAF:** If a MAF is deemed to be incomplete by the DA team, including missing the third-party assurance without any clear justification, the beneficiary will be informed and requested to provide supplementary information. If this causes substantial delays, then the payment for the milestone in question may be deferred to the next payment cycle. As per the policy statement (section 11), if there is a consecutive failure to successfully complete a Milestone on two or more occasions, this may result in the termination of the Agreement or corresponding Statement of Work.
* **Town Hall or Public project Review:** The Vendor may be required to present at
  \
  Intersect’s Town Hall to share the updates on their project. This will be stipulated as a
  \
  milestone in the Vendor’s SoW with a nil value. If a Vendor fails to participate, their
  \
  proceeding milestone’s may be paused.

**14. Monitoring and compliance:**

* **Monitoring:** Intersect, as the administrator, will monitor the completion of milestones, documentation, and payment throughout the contract lifecycle, overseeing that the appropriate delivery assurance is undertaken.&#x20;
* **Compliance:** Significant compliance breaches may be disclosed to the community through public reports and escalated to DReps as appropriate, in alignment with transparency commitments.&#x20;

**15. Review and amendment:**

To ensure the policy remains current and effective, it will be reviewed at least annually. In response to significant organizational changes or regulatory updates, the policy will be updated as required by the Intersect Operational Services team and approved via the Intersect Executive team.

**16. Related documents/references:**

This policy should be read in conjunction with the following documents, guidelines and regulatory frameworks:

* Cardano governance and policy documents
* Intersect as an Administrator
* Cardano Treasury
* Cardano Constitution
* Technical Review Policy
* Administration Financial Audit Policy


# Dispute & Escalation Policy

1. **Policy Title:** Dispute and Escalation Policy<br>
2. **Version:** 1.0<br>
3. **Effective Date:** 1st June 2026<br>
4. **Review Date**: Annually, next applicable 1st June 2027<br>
5. **Policy Owner:** Delivery Assurance Lead<br>
6. **Policy Sponsor:** Head of Operations

*Updated on 26th May 2026*<br>

7. **Purpose:**&#x20;

To establish a formal framework for addressing persistent vendor underperformance, non-responsiveness, or failure to meet contractual standards. This policy ensures that the Intersect Executive Team has oversight of high-risk projects and provides clear pathways, such as Milestone Spot-checks, to protect project integrity and treasury funds.

8. **Scope:**&#x20;

This policy applies to all vendors currently under contract with Intersect. It is triggered when standard administrative remediation (e.g., warnings from the Delivery Assurance team) fails to resolve milestone delivery or quality issues.

9. **Principles:**&#x20;

* Accountability: Vendors are held strictly to their contract including the acceptance criteria and milestone deliverables.
* Integrity: Treasury funds are only disbursed for work that meets high-quality standards.
* Objectivity: Decisions to pause or escalate are backed by evidence, i.e. independent third-party reviews.<br>

10. **Definitions:**&#x20;

* DA Team: Delivery Assurance Team.&#x20;
* MAF: Milestone Acceptance Form.&#x20;
* Milestone Spot-check Review: A review conducted by an external third-party company to verify work quality.
* Pause: A technical pause of payment via the smart contract dashboard.<br>

11. **Policy Statements:**&#x20;

* Quality Standard: All submissions must meet the Milestone Review Checklist and contractual acceptance criteria.
* Mandatory Documentation: Any decision to pause or reject a milestone must be recorded as metadata on the Smart Contract Dashboard.&#x20;
* Financial Safeguard: The decision to pause a payment must be made in the two weeks before the payment is due to prevent accidental automated disbursement.&#x20;
* Escalation Threshold: Formal escalation via the Vendor Escalation Form is required if a vendor fails to remediate issues within agreed timelines or if the DA team recommends contract termination.<br>

12\. **Roles and Responsibilities:**&#x20;

* DA Team: Responsible for monitoring MAF submissions, collating evidence of delays, notifying vendors of review findings, and initiating the "Pause" or "Escalation" process.
* Intersect Admin (2 of 3): Required for actioning a Pause on-chain.&#x20;
* Intersect SLT (1 of 2): Required for final signature/authorization to Pause a Milestone or approve an Escalation recommendation.&#x20;
* External Reviewer: Responsible for conducting Milestone Spot-checks and providing assurance levels (Reasonable, Moderate, or Limited).<br>

13. **Procedures (or Referenced Procedures):**

* Notification: The DA team identifies a delivery issue and notifies the vendor via Slack or email, requesting supporting evidence, clarification, or required amendments.
* Pause Action: If the milestone remains below the required standard beyond the 5-day remediation window, the DA team may initiate a “Pause” action on the dashboard, with support from the Executive Team.
* Repeated Delivery Issues: The DA team identifies a pattern of repeated delivery concerns, including but not limited to: a. Three or more Pause actions b. Vendor unresponsiveness across two or more milestones c. Repeated failure (two or more instances) to meet Milestone Acceptance Form standards.
* Formal Escalation: The DA team completes a Vendor Escalation Form outlining the chronology of events, supporting evidence, and a recommended course of action for Executive Team review (e.g. warning, termination, or spot-check review).
* Executive Decision: The Executive Team reviews the escalation and records its decision, rationale, and any associated commentary.
* Review Trigger (if applicable): Where a spot-check review is deemed necessary, a Spot-check Review Request Form is issued to an independent external reviewer.
* Resolution: Based on the Executive Team’s decision or the reviewer’s findings, the milestone may be Paused, Resumed, Modified, or the contract may be further escalated to the board.
* Termination: The Board has final decision-making authority on any contract Termination actions, including any required disbursal of remaining funds back to the Treasury.<br>

14. **Monitoring and Compliance:**&#x20;

* Adherence to this policy is monitored through the Smart Contract Dashboard metadata logs. Failure by the DA team to document rationale for pauses or by vendors to respond to escalations will be flagged in reviews.<br>

15. **Review and Amendment:**

* This policy will be reviewed annually by the Policy Owner. Amendments require approval from the Policy Sponsor to ensure alignment with smart contract governance.


# Due Diligence Policy

## Due Diligence Policy

**1. Policy Title:** Due Diligence Policy

**2. Version:** 1.2

**3. Effective Date:** 29/04/2026

**4. Review Date:**  April 2027

**5. Policy Owner:** Head of Operations

**6. Policy Sponsor:** Intersect Executive Director

*Updated on 8th May 2026*

***

#### **7. Purpose:**

The purpose of this Due Diligence Policy is to establish a structured, comprehensive, and iterative framework for thoroughly investigating and verifying information before Intersect commits to new contractual relationships, transactions, or projects with new individuals or businesses. This policy aims to identify, assess, and mitigate potential risks, ensuring that all critical aspects are understood. It provides a structured framework to ensure informed decision-making and uphold ethical and legal standards.

#### **8. Scope:**

This policy applies to the beneficiary, as defined below, who enters into contractual relationships, transactions, or projects with Intersect or with Cardano Development Holdings (CDH) where Intersect acts as Administrator.

#### **9. Principles:**

Intersect’s due diligence framework is guided by the following core principles:

**Risk‑Based Assessment**

Intersect applies a proportional, risk‑based approach to all beneficiaries. The depth of checks increases where higher risks are identified, ensuring resources are focused where they matter most.

**Legal and Regulatory Compliance**

All due diligence activities are designed to meet applicable AML, sanctions, fraud‑prevention, and data‑protection requirements (including, where applicable, the UK

Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)

Regulations 2017 (as amended), the Proceeds of Crime Act 2002, the Terrorism Act

2000, applicable data protection legislation, and relevant FATF Recommendations).. Intersect makes all reasonable efforts to ensure beneficiaries meet these thresholds before engagement.

**Independent Verification via Sumsub**

Intersect conducts KYC and KYB checks through Sumsub, an independent third‑party provider offering identity verification, corporate registry checks, AML screening, and manual review for complex cases.

**Transparency and Full Disclosure**

Beneficiaries must provide complete, accurate, and timely information. Any omissions, inconsistencies, or refusal to cooperate may delay or prevent engagement.

**Prevention of Financial Crime**

Due diligence aims to identify and mitigate risks related to money laundering, terrorist financing, fraud, sanctions exposure, and misuse of funds, including crypto‑specific risks such as suspicious wallet activity.

**Ongoing Monitoring**

Due diligence continues throughout the relationship. Intersect performs periodic re‑screening and may request updated information if new risks emerge.

#### 10. Definitions:

* **Beneficiary:** An individual or company receiving funds or entering into a contractual relationship with Intersect or Cardano Development Holdings (CDH), where Intersect acts as Administrator.
* **Cardano Development Holdings (CDH):** A legal entity supporting the Cardano ecosystem by serving as the contracting counter party for approved proposals.
* **Intersect:** An Administrator within Cardano’s funding ecosystem responsible for due diligence, contracting, and on‑chain disbursements, operating under principles of transparency, decentralization, and adherence to the Cardano Constitution.&#x20;
* **Anti-Money Laundering (AML):** The body of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
* **Politically Exposed Person (PEP):** An individual who holds or has held a prominent public function (such as a head of state, senior politician, judicial or military official, or senior executive of a state-owned enterprise), and who may present elevated corruption or money laundering risk, together with their immediate family members and close associates.
* **Ultimate Beneficial Owner (UBO):** Any natural person who ultimately owns or controls more than 25% of the shares or voting rights of a legal entity, or who otherwise exercises effective control over the management of that entity.

#### 10.1 Know Your Customer (KYC)&#x20;

A full identity verification process designed to confirm an individual’s identity and assess financial crime risk. KYC includes:

* **Identity Verification:** Verification of personal information (name, date of birth, address) using government‑issued documents or approved non‑document methods.
* **Liveness & Deepfake Detection:** Facial biometrics and liveness checks to ensure the applicant is real and present.
* **Proof of Address Verification:** Review of documents such as utility bills or bank statements (typically <3 months old).
* **AML Screening:** Screening against sanctions lists, watchlists (including PEPs), and adverse media to identify financial crime risks.

Sumsub supports over 14,000 ID types from 220+ countries and performs these checks on Intersect’s behalf.

#### 10.2 Know Your Business (KYB)&#x20;

A verification process to confirm the legitimacy, structure, and risk profile of a company. KYB includes:

* **Corporate Registry Checks:** Automated retrieval and verification of legal existence, registration details, and management structure.
* **Corporate AML Screening:** Screening the company and its senior individuals against sanctions, watchlists, PEP databases, and adverse media.
* **Document Verification:** Authentication of uploaded documents such as incorporation certificates, articles of association, shareholder registers, and financial statements.
* **Ownership & UBO Review:** Mapping and validating shareholders, directors, and ultimate beneficial owners to ensure transparency.
* **Associated Individual Checks:** KYC verification of directors, UBOs, and other key persons.

#### **11. Additional Due Diligence Measures**&#x20;

In addition to standard KYC and KYB verification, Intersect applies the following comprehensive due diligence measures to ensure a comprehensive assessment of all individuals and entities entering into a business relationship with Intersect or CDH. These measures may be applied at any stage of the due diligence process where risk indicators, inconsistencies, or information gaps are identified.&#x20;

#### **11.1 Manual review by legal team**

Some cases require deeper scrutiny than automated verification can provide. When this occurs, Intersect may request Sumsub to conduct a manual legal review. This involves a detailed, human‑led assessment of complex or high‑risk cases, including the examination of unusual ownership structures, conflicting information, incomplete registry data, or legal documents that require expert interpretation. Manual reviewers may request additional documents to clarify business information, business purpose, or structural details to ensure risks are fully understood and mitigated. These reviews typically conclude within twenty‑four hours and provide an additional layer of assurance where automated checks alone are insufficient.&#x20;

#### **11.2 Ongoing Due Diligence (ODD)**

Due diligence continues throughout the duration of the relationship. Intersect reserves the right to perform periodic checks on any individual or entity entering into, or already engaged in, a business relationship with Intersect. These checks ensure that any changes in business activity, ownership, documentation, or risk profile are identified promptly. If new risks emerge, such as expired documents, adverse media, or changes in corporate structure, Intersect may request updated information or documentation to maintain compliance with regulatory requirements. Ongoing due diligence ensures that Intersect remains aware of evolving risks and can take appropriate action when necessary.&#x20;

In addition to risk-based triggers, Intersect reserves the right to rerun KYB verification on existing partners where Intersect materially updates its KYB process, standards, or screening criteria. In such cases, Intersect will notify affected partners and request any additional documentation required to complete re-verification under the updated process. Failure to cooperate with re-verification will be treated as a risk indicator and may result in suspension or termination of the relationship.&#x20;

#### **11.3 Enhanced Due Diligence (EDD)**

Enhanced Due Diligence is applied when elevated risks are identified during KYC or KYB checks.Specific triggers for EDD include:&#x20;

* The beneficiary or any associated individual is identified as a Politically Exposed Person (PEP).
* Adverse media screening returns material derogatory findings relating to financial crime, fraud, or corruption.
* The beneficiary is incorporated or resident in a jurisdiction designated as high-risk or subject to a call for action by the Financial Action Task Force (FATF).&#x20;
* Inconsistencies or gaps are identified in submitted documentation that cannot be resolved through standard automated verification.&#x20;
* The automated risk score returned by Sumsub exceeds the threshold designated as high-risk in Sumsub's internal scoring methodology.&#x20;
* Any other circumstance where the Operational Services Team or legal team determines that the standard KYC or KYB process is insufficient to adequately assess the risk profile of the beneficiary.&#x20;

This may occur when ownership structures are unclear, when adverse media or PEP exposure is detected, when inconsistencies appear in submitted documents, or when other concerns arise that require deeper investigation. EDD may involve requesting additional or alternative documents, conducting a Due Diligence Interview with the individual or business, or obtaining more detailed information about business activities and financial legitimacy. These cases are escalated internally for review by additional compliance officers to ensure that all regulatory obligations are met and that Intersect fully understands the risks before proceeding.&#x20;

#### **11.4 Wallet Checks**

For beneficiaries receiving funds from Cardano Development Holdings (CDH), Intersect performs wallet checks to verify wallet ownership, access, and legitimacy in line with crypto‑specific industry standards. This includes assessing the wallet’s age, transaction history, and any exposure to sanctioned, high‑risk, or illicit addresses. If wallet analysis reveals unusual patterns or additional risks, Intersect may escalate the case for further review, request additional information, or apply Enhanced Due Diligence before continuing the relationship.&#x20;

#### **12. System Capabilities and Data Sources**

* Editable and transparent company structure: Intersect’s due diligence processes are supported by verification tools that provide clear, accurate, and up‑to‑date information about individuals and businesses. These tools include features that allow for an editable and transparent representation of a company’s ownership and management structure. This ensures that changes in shareholders, directors, or beneficial owners can be easily updated, clearly displayed, and continuously monitored, supporting ongoing compliance and risk assessment.&#x20;
* Support for complex compliance needs: SumSub also supports complex compliance needs by accommodating multi‑layered ownership structures, international regulatory variations, and non‑standard business arrangements. This capability enables Intersect to assess entities operating across different jurisdictions, industries, and regulatory environments, including those with intricate or high‑risk profiles that require deeper analysis beyond standard automated checks.&#x20;

Sumsub performs AML screening using data provided by ComplyAdvantage. ComplyAdvantage returns matches based on sanctions lists, watchlists, PEP databases, and adverse media sources. Sumsub’s internal tools then assess the accuracy, relevance, and severity of each match to ensure that Intersect receives a reliable and proportionate risk evaluation for every beneficiary.&#x20;

#### **13. Policy statements:**

* Any individual or entity entering into a business relationship with Intersect or Cardano Development Holdings (CDH), including vendors, suppliers, employees, and contractors, must complete either a KYC or KYB verification, depending on the nature of the engagement. Completion of these checks is a mandatory requirement and forms the basis of Intersect’s risk assessment process.
* Intersect will not engage with any beneficiary who appears on a sanctions list. Sanctions screening is a non‑negotiable component of the due diligence process, and any confirmed sanctions match results in an automatic rejection of the proposed relationship. Similarly, Intersect will not proceed with any individual or entity that refuses to provide the information or documentation required to complete a full KYC or KYB assessment. Failure to cooperate, incomplete submissions, or attempts to withhold relevant information are treated as risk indicators and may result in termination of the onboarding process.
* Where a beneficiary who is already engaged in an active business relationship with Intersect or CDH is subsequently identified as matching a confirmed sanctions entry, Intersect will immediately suspend all disbursements and contractual activity with that beneficiary pending a formal review. The relationship will be terminated in accordance with applicable legal obligations and internal escalation procedures. Where required by law, Intersect will report the matter to the relevant competent authority without delay and without notifying the beneficiary if doing so would constitute a tipping-off offence under applicable legislation.
* Where watchlist entries, adverse media, PEP exposure, or other negative information is identified, Intersect retains full discretion to determine whether the level of risk is acceptable. These cases are assessed individually, taking into account the severity, relevance, and context of the findings, as well as any mitigating information provided by the beneficiary.
* In addition to identity and AML checks, Intersect assesses the jurisdictional risk associated with each beneficiary. Intersect will verify that the country of incorporation or residence is not located in a jurisdiction where cryptocurrency is illegal. Intersect uses multiple reputable sources, including industry‑recognised publications such as CCN, to maintain an up‑to‑date understanding of global crypto regulations. Intersect will not engage with any beneficiary based in a country where cryptocurrency is prohibited.
* Intersect will confirm that the beneficiary is not incorporated or resident in any jurisdiction listed as grey‑listed or blacklisted by the Financial Action Task Force (FATF). Engagement with entities in these jurisdictions presents elevated financial crime risks and is therefore not permitted under this policy.

#### **14. Roles and responsibilities:**

* **Intersect Operational Services Team:** The Intersect Operational Services Team is responsible for ensuring that any individual or entity seeking to enter into a business relationship with Intersect or CDH has undergone the appropriate due diligence checks. The team is accountable for reviewing verification outcomes, identifying potential risks, and ensuring that all necessary checks are completed before any contractual relationship, transaction, or project is established. Their role includes coordinating with third‑party providers, assessing the completeness and accuracy of submitted information, and escalating cases where additional scrutiny is required.
* **Beneficiary:** Beneficiaries are responsible for complying with Intersect’s due diligence policy and must act with transparency throughout the verification process. They are expected to provide full disclosure by proactively sharing all relevant information, including details that may be perceived as unfavourable. All information submitted must be truthful, accurate, and verifiable. Beneficiaries must also ensure completeness by providing all requested documents and data without omission, delay, or misrepresentation. Failure to meet these responsibilities may result in delays, escalation to enhanced due diligence, or termination of the onboarding process.
* **Ownership of the Verification Process:** Intersect holds full ownership of the due diligence process and is responsible for ensuring that all verification activities are carried out to a consistently high standard. Although Intersect engages trusted third‑party providers, including Sumsub, to perform identity, business, and AML checks, this delegation does not diminish Intersect’s overall accountability. Intersect remains responsible for the integrity, accuracy, and completeness of the due diligence process from start to finish. Where a third‑party provider’s output is incomplete, unclear, or does not meet the standard required under this policy, Intersect will intervene to provide the additional assurance necessary. This may include conducting further internal review, requesting additional documentation, or escalating the case for enhanced assessment. Intersect acts as the primary point of accountability for all due diligence outcomes and is committed to ensuring that every verification is conducted thoroughly, fairly, and in alignment with regulatory and organisational expectations.

#### **15. Procedures:**

* The Operational Services Team issues the appropriate Sumsub verification link:
* KYC/AML for individuals
* KYB for companies
* The beneficiary completes the verification process and uploads all required documents through Sumsub.
* Sumsub conducts the checks described in Section 10.
* Verification may be instant or take up to 72 hours, depending on case complexity.
* If documentation is incomplete or unclear, Sumsub may request resubmission or additional information.
* Intersect may conduct its own manual verification if the automated outcome is insufficient or if further assurance is required.
* Once checks are completed, the Operational Services Team informs the beneficiary of the outcome.
* If the beneficiary fails KYC or KYB, they may review the Sumsub report and challenge any inaccuracies. This does not create any obligation on Intersect to proceed with the relationship following the review.
* If Intersect identifies legitimate concerns; such as sanctions matches or other significant risk factors, the beneficiary will be deemed too high‑risk and the relationship will not proceed.

#### **16. Monitoring and Compliance:**

**Monitoring:** Intersect conducts ongoing monitoring of all beneficiaries who remain in an active business relationship. Repeat screening is carried out on a quarterly, bi‑annual, or annual basis, depending on the assessed level of business risk. The following criteria determine the applicable monitoring frequency:&#x20;

* Annual screening applies to low-risk beneficiaries with no adverse findings, stable corporate structures, and no material changes in circumstances since the last review.
* Bi-annual screening applies to medium-risk beneficiaries, including those with historic PEP exposure that has been mitigated, those operating in jurisdictions subject to enhanced scrutiny, or those with prior adverse media findings that were satisfactorily resolved.&#x20;
* Quarterly screening applies to high-risk beneficiaries, including those currently subject to Enhanced Due Diligence, those receiving high-value or recurring disbursements above agreed thresholds, or those with previously identified adverse findings that remain under active monitoring. These periodic checks ensure that any changes in circumstances; such as new adverse media, sanctions updates, expired documents, or changes in business activity are identified promptly and addressed in line with Intersect’s risk management framework.&#x20;

**Compliance:** Intersect maintains compliance by utilizing Sumsub, a reputable third‑party due diligence provider whose verification processes align with recognized ISO standards for security, risk management, and quality assurance. This ensures that Intersect’s due diligence activities remain robust, consistent, and aligned with industry best practices. [ISO standards for Security, Risk and Quality Management.](https://sumsub.com/sumsub-trust-center/)

#### **17. Review and Amendment:**

To ensure this policy remains current, effective, and aligned with regulatory expectations, it will be reviewed at least annually. Intersect’s Operational Services Team is responsible for initiating updates in response to significant organisational changes, regulatory developments, or enhancements to internal processes. Any amendments to the policy must be approved by the Intersect Executive Team before publication and implementation.&#x20;

#### **18.  Records Retention:**

Intersect retains all due diligence records, including KYC and KYB documentation, screening results, risk assessments, correspondence with beneficiaries, and records of decisions taken, for a minimum period of five 5 years from the date of the last transaction or the termination of the business relationship, whichever is the later. This retention period is consistent with applicable AML regulatory requirements. Where a specific regulatory obligation requires a longer retention period, that longer period shall apply. All records are stored securely with access restricted to authorized personnel only. Upon expiry of the applicable retention period, records shall be disposed of securely and in accordance with Intersect's Data Protection and Records Retention Policy.&#x20;

#### **19. Related documents and References:**

This policy should be read in conjunction with the following documents, guidelines and regulatory frameworks:

* Governance and policy documents
* [Intersect as an Administrator](https://docs.intersectmbo.org/cardano/cardano-budget-submission/intersect-as-an-administrator)
* Transparency Policy
* External regulation and best practices
* [SumSub](https://sumsub.com/)
* [Sumsub Trust Centre ](https://sumsub.com/sumsub-trust-center/)
* [CCN.com](https://www.ccn.com/education/crypto/10-countries-where-crypto-remains-banned/) - Owned and operated by Find.co, is a media outlet dedicated to cryptocurrencies, business, finance and technology.&#x20;


# Minimum Contract Requirements

**Version:** 1.0

***Updated On: 27/02/2026***

***

Intersect continues to act as an administrator, overseeing the delivery of projects which have successfully received treasury funding via community-ratified on-chain governance actions.

This blog clarifies what information is required for Intersect to be able to act as your Administrator, why this information is important, and Intersect’s position should it not be provided.&#x20;

#### Proposal Submission Route

While the annual Budget Cycle represents a key pathway through which proposals are typically submitted for treasury consideration, proposals may be presented and approved through governance processes at any time. Regardless of when a proposal is submitted or approved, the same administrative requirements apply for Intersect to act as Administrator.

During the voting process, the DReps will ultimately sign off the proposals as they are presented on-chain. This may not include all the pertinent information required to form a legal contract, but the DReps are providing their approval on the proposal as an idea or project. In some instances, specific details may not be required to obtain sufficient approval from DReps, but will be required to form part of the legal contract. This supplementary information will not change the outcome or output of the proposal but will clarify in greater detail how the proposal will be delivered and when.

#### Administration Minimum Requirements

As an administrator we have a minimum set of information required to oversee the delivery of a proposal and to sign written legal contracts which contain the needed constitutional dispute resolution clauses and other safeguards.

The following information will be requested and collected as a minimum.

**Legal Entity and Contracting Details**

* Contracting Party Details
* Legal Entity Name (Company / Individual details if sole trader)
* Registration Number (Company)
* Country of Incorporation (Company)
* Registered Address (Company)
* Country of Residence (Individual)
* Government Issued ID Number (Individual)
* Full Residential Address (Individual)
* Primary Contact Full Name
* Primary Contact Email
* Signatory Name
* Signatory Title
* Signatory Email
* Signatory Authorization
* KYC/KYB Submitted
* KYC Contact Email (if required)

**Proposal and Project Information**

* Proposal Title / Project Name
* Executive Summary / Project Description
* Timeline (Project Start & End Date)
* Scope of Work
* Estimated Effort / Duration
* Intersect Administrator
* Other Administrators
* Third Party Assurers

**Milestones and Delivery Information**

Milestones should include:

* Number
* Name
* Description
* Acceptance Criteria / Definition of Done
* Date / Duration
* Value (proportion of the total proposal)
* Deliverables

Milestones are important so that treasury funds can be protected and released only when tangible progress has been achieved. Without milestones, as an administrator, the only option would be to release all funds at the beginning or the end of a project, which lacks transparency to the community on the progress of the project Acceptance Criteria or Definition of Done is key, as this manages both the vendor’s and the ecosystem’s expectation of what they will receive for the value attributed to the milestone.

#### Why This Information Is Important

In order to sign legal contracts with vendors, Intersect must obtain information on who the legal entity is that will receive treasury funds. Without knowing this information up front, DReps may not ultimately know who the beneficiary of treasury funds is until after the fact.

Vendors should provide easily identifiable project names so that they can be easily followed and identified by the community. Simple descriptions (written in English) should also be provided so DReps understand what the project intends to do. Projects should provide an overarching tangible, where practical and possible, deterministic outcome so that DReps understand what will be provided upon completion of the project.

It is the Vendor’s responsibility to provide information on their contracts clearly, so that the community is able to understand what the Vendor is planning to deliver and can verify this. This is also required for Intersect to draft a high-quality legal contract.

#### What Happens if Information Is Not Provided

Should any of the information above not be provided during on-chain governance, Intersect will take this as a signal from DReps that the proposal has been approved, even if the information is omitted.

Intersect will request missing information during contract creation after on-chain governance actions have taken place. However, without the required minimum information, Intersect may not be able to draft or administer the contract. Should Intersect determine that it cannot administer a proposal due to insufficient information, this position will be made clear prior to final on-chain voting.

#### Intersect’s Rights as an Administrator&#x20;

Intersect’s role as an administrator includes overseeing delivery and ensuring treasury-funded projects are executed in line with agreed contractual obligations. If you are planning to submit a proposal, please be aware that Intersect reserves the right to decline acting as the administrator for any new proposal submitted.

For example, where there is a demonstrable history of non-delivery or contractual non-performance, Intersect may determine, at its reasonable discretion, that it is unable to provide administration services for subsequent proposals.

Where such conditions exist, Intersect may, in its reasonable discretion, determine that it cannot responsibly administer future proposals submitted by the same vendor. This position is intended to ensure responsible stewardship of treasury funds and maintain delivery confidence across the ecosystem.

<br>


# Supplier Code of Conduct

## Supplier Code of Conduct

**1. Policy Title**: Supplier Code of Conduct Policy

**2. Version**: 1

**3. Effective Date:** 31/10/25

**4. Review Date:** 31/10/26

**5. Policy Owner:** Head of Procurement

**6. Policy Sponsor:** Operations Director

***

**7. Purpose:**

* This policy sets forth the minimum standards and expectations for all suppliers, vendors, contractors, consultants and business partners (“Suppliers”) who provide goods or services to Intersect and/or to the Cardano Development Holdings (CDH), for which Intersect acts as the sole Administrator. Intersect depends on its supply chain to deliver value, quality and trust. We believe that ethical, responsible and transparent behaviour is essential for long-term relationships and for protecting the reputation of all parties.

**8. Scope:**

* This policy applies to the Supplier, its employees, agents, subcontractors and any tier of the supply chain engaged in delivering goods or services to Intersect. Suppliers are expected to:
* Comply with this policy;
* Communicate this policy to their own upstream suppliers;
* Promptly notify Intersect if they become aware of circumstances which might lead to non-compliance.

**9. Principles:**

This policy is founded on the following principles:

* Integrity and Ethical Conduct: Acting honestly, fairly, and transparently in all business dealings.
* Respect for Human Rights: Upholding labor rights, prohibiting child and forced labor, ensuring fair wages, safe working conditions, and non-discrimination.
* Sustainability and Environmental Responsibility: Minimizing environmental impact, conserving resources, and promoting responsible sourcing.
* Transparency and Accountability: Clear communication, accurate reporting, and cooperation in audits or investigations.
* Collaboration and Value: Encouraging innovation, efficiency, and inclusive practices across the supply chain.

**10. Definitions:**

* Supplier: Any individual or organization providing goods or services to Intersect.
* Subcontractor: A party engaged by a Supplier to perform part of its contractual obligations.
* Conflict Minerals: Minerals sourced in a manner that finances armed conflict or violates human rights.
* Confidential Information: Any non-public information shared in the course of business with Intersect.
* Code Compliance: Adherence to the standards outlined in this Supplier Code of Conduct.

**11. Policy Statements:**

Suppliers are expected to:

* <sup>**Legal and Regulatory Compliance**</sup>
  * Comply with all applicable laws, regulations, and contractual obligations, including anti-bribery, anti-corruption, trade, competition, and data privacy laws.&#x20;
* <sup>**Labor and Human Rights**</sup>
  * Prohibit child labor, forced labor, and human trafficking.
  * Provide fair wages and legally mandated benefits.
  * Ensure safe and healthy working conditions.
  * Respect freedom of association and collective bargaining.
  * Promote equality and prevent harassment, discrimination, or abuse.
* <sup>**Health, Safety, and Environment**</sup>
  * Maintain a safe and healthy work environment, including training and protective equipment.
  * Minimize environmental impact, waste, and emissions.
  * Comply with all environmental laws and maintain necessary permits.
* **Business Ethics**
  * Conduct business with honesty, integrity, and fairness.
  * Avoid conflicts of interest and disclose any potential conflicts.
  * Protect confidential and personal information.
  * Maintain accurate business records.
* <sup>**Supply Chain Responsibility**</sup>
  * Ensure subcontractors comply with similar ethical, labor, and environmental standards.
  * Promote responsible sourcing, avoiding conflict minerals or other unethical supply practices.
* <sup>**Reporting and Cooperation**</sup>
  * Promptly report breaches or potential breaches of this policy.
  * Cooperate with audits, inspections, or investigations as required by the Intersect.

**12. Roles and Responsibilities:**

* Procurement Team: Ensures Suppliers are informed of this policy, evaluates compliance during onboarding, and monitors ongoing adherence.
* Suppliers: Adhere to this policy, cascade standards to subcontractors, and report breaches.
* Compliance or Legal Team: Investigates reported violations, provides guidance on corrective actions, and ensures appropriate enforcement.

**13. Procedures (or Referenced Procedures):**

* Procedures for implementation of this policy include:
* Supplier onboarding and communication of the policy.
* Reporting of concerns via email to *<legal@intersectmbo.org>*

**14. Monitoring and Compliance:**

* Compliance will be monitored through supplier self-assessments, audits, and performance reviews.
* Non-compliance may result in corrective actions, contract renegotiation, suspension, or termination of the supplier relationship.
* Suppliers are expected to cooperate fully with any compliance investigations or requests for documentation.

**15. Review and Amendment:**

* This policy will be reviewed annually by the Policy Owner or as needed in response to significant organizational changes or regulatory updates. Amendments require approval from the Policy Sponsor.


# Technical Review Policy

### Technical Review Policy

**1. Policy Title:** Technical Review Policy

**2. Version:** 1.1

**3. Effective Date:** 1st April 2026

**4. Review Date:** Annually, next applicable April 2027

**5. Policy Owner:** (Interim) Operations Director

**6. Policy Sponsor:** Intersect Executive Director&#x20;

***

**7. Purpose:**

* This Technical Review Policy outlines requirements, guidance where necessary, for review and Technical Audit of milestones (documents, designs, code, or other technical project artefacts) to ensure that the deliverables do not endanger the security, functionality, performance or long-term sustainability of the Cardano Blockchain.

**8. Scope:**

* This policy applies to any deliverable or change which has the potential ability to alter code which could potentially be deployed on mainnet, under Intersects stewardship.
* Specifically, any deliverable which affects crypto primitives, ledger, or consensus rules must abide by this policy and any artefacts referenced.&#x20;
* This policy does not replace any requirements set out by the Cardano Constitution. Where applicable, this must be completed in addition to anything set out in this policy
* Where a deliverable does not affect any core code, this policy should be undertaken as best practice, where practically possible and could be discretionally requested at any time.

**9. Principles:**

* To provide support to any constitutional requirements regarding Technical Audit, and, where necessary, further definition.
* To ensure that deliverables do not endanger the security, functionality, performance, or long-term sustainability of the Cardano Blockchain.&#x20;
* Where deliverables do not potentially affect the security, functionality, performance, or long-term sustainability of the Cardano Blockchain; vendors should consider undertaking the practices defined to demonstrate trust and promote adoption of deliverables within the ecosystem.&#x20;

**10. Definitions:**

* **Beneficiary:** Individual and/or Company who will be receiving funds and/or entering into contractual relationships with Intersect or with CDH where Intersect is acting as its Administrator
* **Compliance:** Adhering to the terms and conditions in the DRep approved funding allocated contract.
* **Ecosystem Risk:** Where the security, functionality, performance, or long-term sustainability of the Cardano Blockchain may be affected.
* **Intersect:** Intersect serves as an Administrator within Cardano’s funding ecosystem, helping to operationalize community-approved proposals by coordinating due diligence, contracting, and on-chain disbursements. This role is grounded in the principles of transparency, decentralization, and adherence to the Cardano Constitution.
* **Technical Audit:** A Technical Audit is an independent verifiable examination of technical information undertaken by a designated capable third party, separate to the Beneficiary, ensuring full alignment with contract milestones approved by DReps..
* **Technical Review:** A Technical Review is a systematic check of technical work undertaken as part of consistent delivery assurance, ensuring full alignment with contract milestones approved by DReps.

**11. Policy statements:**

* Where applicable, all deliverables must adhere to the rules within the Cardano Engineering Handbook, including any testing or reasonable disclosure requirements.
* Where applicable, all deliverables must adhere to any policy contained within the code repositories under Intersect’s administration.&#x20;
* Prior to any mainnet integration, the following artefacts, or others reasonably requested, are expected to have been agreed in advance with Intersect or a chosen third party of Intersect, produced where practically possible and reviewed by Intersect as the administrator.
* Functionality Tests&#x20;
* Security Reviews
* Code Audits
* Performance Tests
* Integration Functionality Tests
* Performance Tests&#x20;
* Any deliverable which affects crypto primitives, ledger, or consensus rules must seek prior agreement on Technical Audit and testing prior to commencement of any deliverable.&#x20;
* Because requirements for new features may not be able to be defined in this policy in advance, any other reasonable requirement for technical testing, auditing, or security review must be met.&#x20;

**Examples:**

| **Acceptable**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | **Unacceptable**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| <p><strong>Minor Update/Merge to Core Code Repository:</strong></p><p><br></p><p>Full adherence to any repository specific documentation (example here: <a href="https://github.com/IntersectMBO/cardano-node"><https://github.com/IntersectMBO/cardano-node></a>) </p><p><br></p><p>Full adherence to repository review and merge process</p><p><br></p><p>Sign off from Repository Maintainers/Owners</p><p><br><br></p>                                                                                                                                                                                      | <p>Minor Update/Merge to Core Code Repository:</p><p><br></p><p>Uncommented code, or code which does not adhere to the policies or practices defined within the repository in question</p><p><br></p><p>Non-adherence or violation of any release or releasing markdown(md) requirements or similar. </p><p><br></p><p>Vague or ambiguous statements or testing which cannot be understood, verified or easily replicated.</p><p><br><br></p>                                                                                                                                                                                                                           |
| <p><strong>Ledger Feature Release:</strong></p><p><br></p><p>Full Node Release Testing (here: <a href="https://tests.cardano.intersectmbo.org/readme.html"><https://tests.cardano.intersectmbo.org/readme.html></a>) </p><p><br></p><p>Full adherence to any repository specific documentation (example here: <a href="https://github.com/IntersectMBO/cardano-node"><https://github.com/IntersectMBO/cardano-node></a>)<br><br></p><p><strong>CICD Sign off from:</strong></p><ul><li>Test Engineer</li><li>Performance Engineer<br>Site Reliability Engineer</li><li>Release Engineer</li></ul><p><br></p>    | <p><strong>Ledger Feature Release:</strong></p><p><br></p><p>Uncommented code, or code which does not adhere to the policies or practices defined within the repository in question</p><p><br></p><p>Non-adherence or violation of any release or releasing markdown(md) requirements or similar. </p><p><br></p><p>Vague or ambiguous statements or testing which cannot be understood, verified or easily replicated.</p>                                                                                                                                                                                                                                             |
| <p>Full Node Version Release:</p><p><br></p><p><strong>Full Node Release Testing (here:</strong> <a href="https://tests.cardano.intersectmbo.org/readme.html"><https://tests.cardano.intersectmbo.org/readme.html></a>) </p><p><br></p><p>Full adherence to any repository specific documentation (example here: <a href="https://github.com/IntersectMBO/cardano-node"><https://github.com/IntersectMBO/cardano-node></a>)<br><br></p><p><strong>CICD Sign off from:</strong></p><ul><li>Test Engineer</li><li>Performance Engineer<br>Site Reliability Engineer</li><li>Release Engineer</li></ul><p><br></p> | <p><strong>Full Node Version Release:</strong></p><p><br></p><p>Uncommented code, or code which does not adhere to the policies or practices defined within the repository in question</p><p><br></p><p>Non-adherence or violation of any release or releasing markdown(md) requirements or similar. </p><p><br></p><p>Non-adherence, or evidence of completion, of cardano-node-test. Or public release of results. </p>                                                                                                                                                                                                                                               |
| <p><strong>DApp Feature or Release:</strong></p><p><br></p><p>Advised to follow provided delivery assurance best practice for required technical review and or audits where required. </p><p><br></p><p>Ultimately the vendor should want to demonstrate safe, secure applications and code as this is likely to increase utilization and ultimately delivery better benefit to the community. </p><p><br></p><p>Vendors are encouraged to demonstrate progress and incorporate community throughout development lifecycles, through prototyping, AMAs/Q\&A as well as other live sessions. </p><p><br><br></p> | <p><strong>DApp Feature or Release:</strong></p><p><br></p><p>Features or applications released with no prior community engagement. </p><p><br></p><p>Features or applications where no feedback loops are present or available for the community. </p><p><br></p><p>Features or applications where no testing or development can be seen on testnets or through prototyping. </p><p><br></p><p>Ultimately Intersect cannot force a vendor to undertake certain actions, but as an Administrator we can make it clear where developers and vendors have taken all due diligence and care to develop safe, secure applications for the betterment of the ecosystem. </p> |

<br>

**12. Roles and responsibilities:**

**Intersect (administrator)**&#x20;

* Intersect serves as an administrator, offering guidance. Intersect can advise but not enforce or amend constitutional requirements.&#x20;
* Where possible, offer audit coordination services and guidance, ensuring the initiation of necessary Technical Audits and reviews for each proposal under its administration.&#x20;
* Put in place reporting mechanisms to ensure clear and timely communication, including conducting Delivery Assurance checks and promptly escalating any identified issues, discrepancies, or risks.

**Vendor**

* Responsibility for conducting any Technical reviews or Audits prior to commencement of deliverables, as deemed reasonable by the administrator.
* Responsible for any remediation or retesting required, as reasonably requested by Intersect, until such time as the deliverable does not endanger the security, functionality, performance, or long-term sustainability of the Cardano Blockchain.
* Responsible for publication and or reasonable disclosure to Intersect or the Security Council or community as appropriate; where practically possible, reducing the likelihood of duplicating effort, and reducing the likelihood of the risk to other deliverables. &#x20;

**13. Procedures (or referenced procedures):**

* Vendors should seek clarity and requirements prior to any proposal submissions (at the earliest opportunity).
* Proposal vendors must agree to required Technical Audits and reviews in advance, ahead of any contractual agreements.
* Any cost associated with a proposal’s Technical Audit is the responsibility of the vendor.
* Where practically possible, all test results should be shared with the administrator and, as appropriate, logged by the Security Council.&#x20;
* Where practically possible, the outcomes of testing, reviews and audits shall be shared with the community to build evidence of quality and encourage adoption.&#x20;

**14. Monitoring and compliance:**

* Monitoring: Intersect, as the administrator, will monitor the completion of milestones and documentation throughout the contract life-cycle, ensuring that the appropriate Technical Audits and reviews are undertaken.
* Compliance: Compliance will be monitored by delivery assurance on a per-milestone basis. Non-compliance to a required Technical Audit or review risks a delay in the approval of milestones.

**15. Review and amendment:**

* To ensure the policy remains current and effective, it will be reviewed at least annually. In response to significant organizational changes or regulatory updates, the policy will be updated by the Intersect Operational Services team and approved via the Intersect Executive team as required.&#x20;

**16. Related documents/references:**

This policy should be read in conjunction with the following documents, guidelines and regulatory frameworks:

* Cardano governance and policy documents
* [Intersect Constitution - Hard Fork & Parameters](https://docs.intersectmbo.org/cardano/cardano-governance/cardano-constitution/read-the-cardano-constitution#article-viii.-amendment-process)
* [Security Policy](https://docs.google.com/document/d/1lQPhyTOW2yV-DM22pXXQtwXM8UXW7fLSRRWjfECUpAw/edit?tab=t.0)
* [Intersect as an Administrator](https://docs.intersectmbo.org/cardano/cardano-budget-submission/intersect-as-an-administrator)
* [Cardano Engineering Handbook](https://input-output-hk.github.io/cardano-engineering-handbook/)
* [Intersect: Project Deliverable Quality Assurance](https://docs.google.com/document/u/0/d/1t9n5VtipFB0OW7E9Imze1F_H8wy8Q7661qiooyZjkjA/edit)
* Delivery Assurance Policy and Best Practice
* Administration Financial Audit Policy
* Transparency Policy


# Third-Party Assurance (TPA) Policy

### **Third-Party Assurance (TPA) Policy**

**1. Policy Title:** Third-Party Assurance (TPA) Policy

**2. Version:** 1.2

**3. Effective Date:** 01/05/2026

**4. Review Date:** 01/05/2027 (Annual Review)

**5. Policy Owner:** Operations Director

**6. Policy sponsor:** Intersect Executive Director

***

**7. Purpose:**

The purpose of this policy is to establish a framework for independent verification of Treasury-funded project milestones. It aims to protect Cardano Treasury funds, increase community transparency, and ensure that all funded deliverables meet the high-quality and technical standards agreed upon in contractual agreements.

**8. Scope:**

This policy applies to:

* All vendors and delivery teams receiving funding via the Treasury, where Intersect is their named Administrator.
* Individuals or entities acting as Third-Party Assurers (TPAs).
* The Intersect Delivery Assurance team.
* All project milestones (excluding kick-off milestones)

**9. Principles:**

* Independence: Third-party assurers must remain impartial and free from conflict of interest.
* Evidence-Based: Approvals must be rooted in tangible proof, not assumptions.
* Transparency: All assessments must be clear, unbiased, and accessible to the community.
* Accountability: Ensuring Treasury funds are released only upon validated professional standards.<br>

**10. Definitions:**

* Third-Party Assurer (TPA): An independent subject matter expert responsible for verifying milestone completion and quality.
* Vendor: The entity responsible for delivering the project and managing the relationship with the TPA.
* Attestation: The formal submission of an assessment and supporting comments via the Milestone Acceptance Form (MAF).
* Independence: The absence of financial, personal, or professional ties to the vendor or project outcome.
* Milestone Acceptance Form: The form that vendors complete for each individual milestone.

**11. Policy Statements:**

* Mandatory Independence: TPAs must be from a different company than the delivery team and have no vested interest in the project or Intersect Committee seats.
* Expertise Alignment: TPAs must possess relevant expertise specific to the milestone they are assessing.
* Verification Requirement: No milestone funds shall be released without a completed TPA final attestation that confirms both milestone completion and quality.
* Right of Veto: Intersect reserves the right to reject a proposed TPA, at any point during delivery, if they do not meet suitability or independence criteria.
* Conflict of Interest: The vendor must disclose any potential conflict of interest immediately to the Intersect Delivery Assurance team.
* Objective Reporting: Assessments must be factual and unbiased.&#x20;

**12. Roles and Responsibilities:**

* Vendor: Responsible for selecting the TPA and budgeting for TPA costs. Also responsible for providing all necessary evidence to show milestone completion via the MAF.  The Vendor might also be requested to make any TPA review of the milestones public, e.g. an audit report completed by the Vendor.
* Third-Party Assurer (TPA): Responsible for delivering assessments of milestone quality and completion, providing evidence of how they have completed the assessment.
* &#x20;Intersect Delivery Assurance Team: Responsible for verifying TPA suitability, reviewing MAFs, and ensuring compliance to the assurance process.

**13. Procedures (or Referenced Procedures):**

The following workflow must be adhered to for all TPA engagements:

1. Selection: Vendor identifies a TPA with relevant subject-matter expertise.
2. Suitability Check: Intersect reviews the TPA for technical expertise and independence.
3. Onboarding: Optional session between Vendor, TPA, and Intersect to clarify responsibilities.
4. Assessment: TPA reviews milestone evidence against the contractual milestone acceptance criteria and deliverables.
5. Feedback Loop: If the quality for any milestone is not met, the TPA provides feedback to the vendor for remediation prior to formal submission.
6. Final Submission: Vendor submits the MAF to the Delivery Assurance Team, including the attestation from the TPA.
7. Final Sign-off: The Delivery Assurance Team is responsible for final sign-off of the MAF.&#x20;
8. TPA Milestone: There may be an additional milestone requirement to make any assessment documentation public, for e.g. a code audit report.
9. Report Review: Intersect’s DA team will review the report to ensure the quality of delivery by the Vendor is sufficient.

**14. Monitoring and Compliance:**

Compliance is monitored by the Intersect Delivery Assurance team through the review of every Milestone Acceptance Form.

* Non-Compliance: If a TPA is found to no longer meet the TPA requirements or has provided a substandard review, the attestation may be voided.
* Consequences: Failure by a vendor to engage a suitable TPA, at any point during delivery may result in the withholding of milestone payments.&#x20;

**15. Review and Amendment:**

This policy will be reviewed annually by the Policy Owner to ensure it remains aligned with community standards and organizational changes. Amendments require the formal approval of the Policy Sponsor.

<br>


# Vendor Change Request Policy

**1. Policy Title:** Vendor Change Request Policy

**2. Version:** 1.0

**3. Effective Date:** 21.01.26

**4. Review Date:** 21.01.27

**5. Policy Owner**: Head of Procurement

**6. Policy Sponsor:** Director of Operations

***

Note: Following receipt of a change request, all subsequent transactions and smart contract payments may be temporarily paused until verification is complete and the request is processed.

**7. Purpose:**

* This policy defines the procedures for requesting, verifying and processing changes to vendor contract details and operational arrangements after contract execution. It applies to change requests submitted by a vendor’s Authorized Signatory or Designated Representative in accordance with the Vendor Delegation of Authority Policy. The policy ensures all changes are securely verified, properly authorized, auditable, and processed in a risk-based manner.

**8. Scope:**

This policy applies to all vendors with active contracts and encompasses the following types of changes:

* Wallet address or bank account detail changes
* Whitelist or approved account/address/system updates
* Vendor entity or company detail changes (company name, registration, address, tax information)
* Signatory or authorized representative changes
* Commercial and operational contract changes, including:
  * Milestone adjustments
  * Milestone delivery date changes
  * Pricing or cost changes
  * Payment terms or payment triggers
  * Other agreed operational updates

**Excluded or at Intersects discretion:**

* Amendments to legal clauses
* Liability or indemnity provisions
* Contract term or termination rights

**9. Principles:**

This policy is grounded in the principles of:

* **Authorization**: Only an Authorized Signatory or formally recognized Designated Representative may submit change requests.
* **Verification**: All change requests must be verified before implementation.
* **Security**: Additional safeguards apply to higher-risk financial changes.
* **Auditability**: All change requests, approvals, and actions are logged with method, date/time and verifier retained for internal audits.
* **Risk**-**Based Controls**: Verification steps are proportionate to the risk level of the requested change.

**10. Definitions:**

* **Authorized Signatory:** The individual who executed the vendor contract and has authority to bind the vendor.
* **Authorized Representative:** An individual formally delegated authority by the Authorized Signatory under the Vendor Delegation of Authority Policy.
* **Change Request:** Any formal request submitted by a vendor to update contractual, operational or payment-related details.
* **Change Request Form (CRF):** Form outlining the Vendor Change Request, signed off by the Authorized Signatory or Authorized Representative.
* **High-Risk Change**: Changes that affect financial instructions or payment destinations.
* **KYC/KYB:** Know Your Customer / Know Your Business identity verification process. For more information, read the [Intersect Due Diligence Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/due-diligence-policy).
* **Enhanced Verification**: Additional checks which may include phone or video confirmation or further documentation review.
* **Wallet Address:** Blockchain wallet used for receiving payments.
* **Vendor Whitelist:** List of approved addresses for vendor fund withdrawals
* **Verification Call:** A phone call conducted to confirm the identity and intent of the individual requesting the wallet address change.

**11. Policy Statements:**

* All post signed contract changes must be submitted in writing via email and fill out a Change Request Form as provided by Intersect.
* Only Authorized Signatories or recognized Designated Representatives may request changes, as per the Vendor Delegation of Authority Policy. .
* No change will be implemented until required verification is completed.
* Requests outside delegated authority or within excluded categories require formal contract amendment.
* For financial or system-related changes, Intersect may temporarily pause related payments or system actions until verification is complete.
* All approved changes will be confirmed in writing and recorded for audit purposes.

**12. Roles and Responsibilities**

**Vendor Authorized Signatory**

* Appoints and maintains Designated Representatives.
* Submits or authorizes contract change requests in writing via email.
* Completes Change Request Form as requested by Intersect.
* Provides clarification where required.

**Designated Representative**

* Acts only within their delegated scope.
* Submits or authorizes contract change requests in writing via email.
* Completes Change Request Form as requested by Intersect.
* Provides supporting documentation or verification as requested.

**Intersect Procurement and Operations Team**

* Provide Change Request Form once received initial Change Request.
* Verify requester authority and documentation.
* Apply appropriate verification measures, including conducting verification calls for high-risk change requests.
* Process approved changes.
* Maintain logs of all change requests, Change Request Form, verification steps, and approvals, including method, date/time and verifier.
* Escalate out-of-scope requests to the Authorized Signatory.

**13. Procedures**

**Submission of Change Requests**

* Change Request Forms must be submitted in writing via email to **<procurement@intersectmbo.org>** and cc in **<operational-services@intersectmbo.org>**
* Intersect will aim to respond within 10 working days. Should no response be received, the vendor is responsible for re-submission.
* Requests must clearly describe the proposed change and provide supporting documentation.

**Verification**

Intersect verifies:

* The vendor’s KYB records on file.
* The requester’s authority under the Vendor Delegation of Authority records.
* Supporting documentation for the requested change.
* For higher-risk changes, Intersect will require the requesting individual to complete KYC and may perform enhanced identity verification, including direct confirmation through a verification call or equivalent control. KYC of the requesting individual is only required for high-risk changes.

**Processing**

* Verified change requests are processed by Intersect.
* Out-of-scope or excluded changes are escalated for formal contract amendment.
* Approved changes are implemented and confirmed in writing and logged by Intersect.
* Where changes affect payments, Intersect may temporarily pause payments until verification is complete. Intersect reserves the right to pause payments for any change within the scope of this policy.

**14. Verification Guidelines\***

Guidelines are discretionary, but typical verification illustrated below.

**Change Category**

**Verification Required**

**Notes**

Wallet / Bank Account Detail Changes

KYB on file + KYC of requesting individual + enhanced verification

High-risk - financial instructions updated only after verification. The Vendor will need to submit the new wallet address into the [wallet address form](https://forms.gle/VgX7nZbcnnXL9o99A).

Whitelist / Approved Account / System Updates

KYB on file + KYC of requesting individual + enhanced verification

High-risk

Replacement of Authorized Signatory

KYB on file + KYC of requesting individual + enhanced verification

Critical - authority records updated immediately

Entity / Company Detail Changes

New KYB + documentation review

Additional verification if needed

Commercial / Operational Contract Changes

KYB on file + authority verification of requester

Must fall within delegated scope

Other Agreed Operational Updates

KYB on file + documentation review

Risk-based discretion

\*KYC is to prove legitimacy of the individual, not necessarily personal background checks.

**15. Monitoring and Compliance:**

* All change requests and approvals must be securely retained, including verification steps.
* Unauthorized or unverified requests will be rejected.
* Repeated non-compliance may result in delayed processing or contractual remedies.

**16. Review and Amendment**

This policy will be reviewed annually by the Policy Owner or earlier if required by operational, contractual, or regulatory changes. Amendments require approval from the Policy Sponsor.

**17. Related Documents / References**

* [Vendor Delegation of Authority Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/vendor-delegation-of-authority-policy)
* [Delegation of Authority Form ](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/delegation-of-authority-form)
* [Intersect Due Diligence Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/due-diligence-policy)


# Vendor Delegation of Authority Policy

**1. Policy Title:** Vendor Delegation of Authority Policy

**2. Version:** 1.0

**3. Effective Date:** 21.01.26

**4. Review Date:** 21.01.27

**5. Policy Owner:** Head of Procurement

**6. Policy Sponsor:** Director of Operations

***

**7. Purpose:**

* This policy defines how vendors appoint, update and maintain Authorized Signatories and Authorized Representatives. It ensures delegated authority is properly documented, verified and recorded so that Intersect can rely on approvals and instructions provided by authorized vendor representatives.

**8. Scope:**

* Vendor Authorized Signatory who execute contracts on behalf of the vendor; and
* Vendor Authorized Representatives authorized to act on behalf of the Authorized Signatory for defined categories of contractual or operational matters, as set out in the contract Delegation of Authority Form.

**9. Principles:**

* **Written Authorization:** Delegations must be provided by filling out the Delegation of Authority Form provided.
* **Verification:** Intersect will verify the identity and authority of Authorized Signatories and Authorized Representatives before recognizing their authority.
* **Record Keeping:** All delegations, updates and revocations are recorded by Intersect.
* **Continuity:** Previously valid delegations remain effective until Intersect receives written notice of revocation or replacement.

**10. Definitions:**

* **Authorized Signatory:** The individual who executes the vendor contract and has authority to bind the vendor.
* **Authorized Representative:** An individual formally delegated authority by the Authorized Signatory to act on defined categories of contractual or operational matters.
* **Delegation Notice:** Written notice (email) provided by the Authorized Signatory identifying Authorized Representatives and their scope of authority.
* **Revocation Notice:** Written notice removing or replacing an Authorized Signatory or Authorized Representative.
* **Delegation of Authority Form:** Form provided in the contract in contract Appendix, or provided to Vendor if requested.

**11. Policy Statements:**

* The Authorized Signatory may appoint Authorized Representatives for defined categories of contractual or operational matters.
* Delegations must be provided by filling out the Delegation of Authority Form and signed by the Authorized Signatory, and must clearly specify:
  * Name
  * Title / Role
  * Email contact
  * Category of delegated authority
* Intersect will not recognize any delegation until it has been recorded and verified.
* The Vendor can assign one or many Authorized Representatives.
* Authorized Representatives may act only within their documented scope of authority.
* Delegated authority remains valid until Intersect receives written revocation or replacement notice.
* Intersect may reject or request clarification of any delegation notice that is incomplete or ambiguous.

**12. Roles and Responsibilities:**

**Vendor Authorized Signatory**

* Executes contracts on behalf of the vendor.
* Issues written delegation notices for Authorized Representatives.
* Ensures Authorized Representatives understand their scope of authority.
* Issues written revocation or replacement notices when representatives change.

**Vendor Authorized Representative**

* Acts only within the documented scope of delegated authority.
* Submits approvals or instructions through official communication channels.
* Provides identity or authority verification if requested.

**Intersect Procurement and Operations Teams**

* Receive and review delegation notices.
* Verify the identity and authority of Authorized Signatories and Authorized Representatives as required.
* Record delegation details in internal authority registers.
* Maintain records of all delegations, updates, and revocations.
* Escalate unclear or conflicting delegations to the vendor’s Authorized Signatory.

**13. Procedures (or Referenced Procedures):**

**Appointment of Authorized Signatory**

* The vendor identifies an Authorized Signatory in the contract execution process.
* Intersect records the Authorized Signatory details in internal systems.

**Appointment of Authorized Representatives**

* The Authorized Signatory submits a written Delegation Notice (or completes the contract Delegation of Authority Form).
* The notice must specify:
  * Representative name and title
  * Contact details
  * Delegated category of authority
* Intersect reviews and records the delegation.
* Where required, Intersect verifies identity or authority before activation.

**Updating or Revoking Delegations**

* The Authorized Signatory submits written notice of:
  * New representatives
  * Replacements
  * Revocations
* Intersect updates internal records accordingly.
* Prior delegations remain valid until replacement or revocation is recorded.

**Replacement of Authorized Signatory**

* The vendor provides written notice of a new Authorized Signatory.
* Intersect verifies authority and updates internal approval records.

**14. Monitoring and Compliance:**

* All delegation records are securely retained.
* Intersect will periodically review delegation records for completeness and accuracy.
* Actions taken by individuals without recognized authority will be rejected.
* Persistent failure to maintain accurate delegation records may result in delayed processing of vendor requests.

**15. Review and Amendment:**

* This policy will be reviewed annually by the Policy Owner or earlier if required by contractual, operational, or regulatory changes. Amendments require approval from the Policy Sponsor.

**16. Related Documents/References:**

* [Delegation of Authority Form](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/delegation-of-authority-form)
* [Vendor Change Request Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/vendor-change-request-policy)