💡 Amid the ongoing community discussions around lowering the NCL for Cardano Treasury spending in 2025, we’d like to share and reiterate a few points: ▫️ The current 350M ADA NCL that was approved by a majority of DReps is a ceiling, not a spending target. ▫️ With that said, current proposals and their disbursements are to cover 12 months of budget. Thus, the total projected spending should be under 275M ADA in 2025, which is much lower than expected, or could even be much lower than that. ▫️Given the timing and debate around this year’s budgeting process, the 2026 budget is unlikely to be considered on a calendar year basis. Rather, it is more realistic to treat it as a rolling 12-month budget cycle. ▫️Also worth noting is that if the proposed ADA spending were marked to current market prices, the total ask would also be lower. However, this isn’t specified yet in any governance action and is something to consider. 🚀 Let’s keep moving forward constructively to give approved projects the essential funding to build and reduce any inadvertent delays that can slow the development of our ecosystem.