We are pleased to share that EMURGO expresses support for the 39 individual withdrawal proposals as a board member. We believe this is a critical moment to demonstrate that Cardano's governance is truly functioning not only across our ecosystem but also to the broader blockchain community, and we are encouraged by the unanimous decision that was reached. In the Ekklesia vote, we supported the option of “Two support brackets with two withdrawals each.” Due to the low participation rate in the Ekklesia poll, we held the view that individual withdrawals would most likely place a heavy administrative burden on Intersect and on more than 90% of DReps who are currently inactive — even though EMURGO itself has the resources to process a large number of governance actions. Therefore, we focused on two key priorities: 🔹Swiftly approving proposals that had received more than 67% support. 🔹Minimizing the total withdrawal amount for 2025 in line with community expectations. From this perspective, we determined that the option we chose at the time represented the most reasonable and practical path forward. Ultimately, we respect the consensus reached by active DReps that the 2025 budget should be reviewed on a proposal-by-proposal basis, and we remain committed to ensuring that essential projects receive timely funding to help advance the ecosystem.