$bella

[Iagon @IagonOfficial]

Development Update · 1 September 2026

We keep building. Here is the short version of what moved during the past two weeks.

Nodes
The upgrade rolled out across the network. The legacy network and tunnels are retired. Where nodes upgraded late, the network redistributed their shards automatically.

Rewards
Tiers and rewards derived. Rewards from epochs that needed re-verification after issues have been reprocessed.

Storage SDK
The first encryption proof of concept is done. That unblocks the API design work.

Insight
The auth flow is improved. We load-tested USDC subscription payments.

Dashboard
Some of you hit problems with the dashboard this epoch. We know the cause, the fix is written, and the hotfixes are ready. We will confirm here when they are live.

Thank you to the community. You move the ecosystem forward.

[Charles Hoskinson @IOHK_Charles]

:)

[Elon Musk @elonmusk]

I warned them. It will get much worse.

[$bella @builder420_]

@CoachDanGo 12-3-30 you mean?

[DeepSeek @deepseek_ai]

API pricing update 💰

With the V4 lineup release, we’re updating our API pricing and introducing peak and off-peak rates. Off-peak rates are 50% lower than peak, enabling more flexible workload scheduling. 📉

New pricing takes effect at 16:00 UTC, Aug 16, 2026 🕒

[Not a Tesla App @NotATeslaApp]

@Tesla's AI assistant (Grok) with its new vehicle commands in action.

Set the climate, your destination and vehicle settings all in one go!

[$bella @builder420_]

@OzDefi @NaVi_GaT0R Yes

[⛏️Dr. Navjit Dhaliwal @NaVi_GaT0R]

I am voting NO on Blockfrost proposal.

This is being presented as a community takeover of critical Cardano infrastructure. In reality, the community is being asked for around 10 million $ADA to fund 18 months of salaries and operations before the basic facts of the proposed acquisition have been properly disclosed.

The community does not know what it is acquiring - The proposal says that Blockfrost's source code, trademarks, domains and associated assets will eventually be transferred to a not-for-profit. It does not clearly disclose:

- the current legal owner of each asset
- the complete asset schedule
- the chain of title for the website, domains, trademarks and code
- whether any assets are owned, controlled or merely licensed
- what rights Five Binaries, IOG or other parties retain
- the value assigned to the assets or the actual acquisition price

There has already been a dispute over who owns https://t.co/QOAeJ1OibV and its IP. Blockfrost's legal terms previously described the site as Five Binaries' proprietary property. Its invoices stated "https://t.co/QOAeJ1OibV by Five Binaries OÜ" and used Five Binaries' VAT number.

When ownership representations change after scrutiny, the answer is not to wave the proposal through. The answer is to require independent legal verification of the chain of title.

What did IOG acquire in late 2024?

The proposal states that Blockfrost was founded by Five Binaries and "joined IOG" in 2024. It does not explain what that means commercially.

The community should be told:

- what IOG acquired
- whether it bought shares, IP, domains, commercial rights or some combination
- how much it paid
- who received that payment
- what valuation was used and what exactly is now being transferred using treasury funding

These are routine acquisition due diligence questions. The treasury should not fund a second transaction without disclosure of the first one.

This is mainly an operating subsidy - The proposal requests approximately 10 million $ADA, but there is no separately identified purchase price for the IP, website, trademarks or domains

Approximately 75% is allocated to staffing, approximately 25% is allocated to operations & infrastructure and a small amount is allocated to legal and accounting work.

The community is therefore not being offered a clearly priced asset acquisition. It is being asked to pay for the continued operation of Blockfrost while ownership is transferred later to an entity that has not yet been finalized. Calling this a community takeover does not change the economics. It is an operating grant tied to a future transfer promise.

The staffing budget is excessive and not fully outlined.

The staffing request is $1,478,266 for six people over 18 months - four developers, one project manager and one community manager. That equals an average loaded cost of approximately:

$82,126 per month for the team
$13,688 per person per month
more than $164,000 per person annually (Does a community manager earn 164k annually?)

Those are extremely high blended costs for a mostly European team containing both technical and non-technical positions. Yet the proposal does not disclose -cost by role, seniority, employee versus contractor status, related-party payments or the identity of the organization receiving the staffing funds.

"Privacy" is not a credible excuse for withholding role based costs. Nobody is asking for personal payslips. Public treasury funding requires transparent FTE assumptions and compensation. The proposal also places DevOps personnel inside the infrastructure allocation, creating further uncertainty over how many people are actually being funded and whether labour is being obscured inside multiple budget categories.

The expenditure will not end after 18 months The proposal annualizes to approximately $985,000 in staffing and overhead, $240,000 in infrastructure and operations, roughly $1.2 million in recurring yearly expenditure, before insurance, compliance, commercial support, sales, legal costs or expansion.

There is no demonstrated sustainability model.

Commercial tiers, vendor fees and treasury repayments are merely ideas that a future board may consider. The proposal admits that long-term sustainability will be decided after the community has already funded the transition. That means the treasury is being asked to commit first and discover the business model later.

The predictable result is another funding request when the 18 months expire.

Cardano governance cannot operate an enterprise API business

The proposal claims Blockfrost will become community owned and decentralized. But Cardano governance cannot itself
- sign an enterprise SLA
- employ staff
- invoice customers
- accept contractual liability
- provide indemnities
- hold commercial insurance
- enter data centre and hosting contracts
- manage tax and data protection obligations
- or be sued when the service fails.

A centralized legal entity will still own the assets, control the domain, employ or contract the team and sign commercial agreements. The proposal recognizes this by requiring a separate not-for-profit entity and an off-chain legal structure involving Intersect and Cardano Development Holdings.

Therefore, this is not "fully decentralized." At most, it is centralized legal and commercial control combined with community board elections. Those are not the same thing.

Enterprise customers require a legally accountable counterparty and detailed contractual protections covering uptime, response times, incident escalation, service credits, security, liability, indemnification and termination.

The public service is only promised at 99% monthly uptime, which permits more than seven hours of downtime per month. Calling that an SLA does not make it enterprise grade, particularly when no contractual remedies are specified.

The acquiring entity does not yet exist in final form

The proposal does not even determine whether the assets will move into a new entity or existing one. The final governance structure, legal jurisdiction, constitutional documents and permanent board are still to be decided.

No competent acquisition committee would approve such a transaction. This proposal is missing the most basic information required for a takeover:

Verified ownership, chain of title, prior transaction details, historical revenue, current paid customer data, an independent valuation, a stated purchase price, role based FTE costs, assignable enterprise contracts, a finalized acquiring entity, and a credible long term operating plan.

[Dan Go @CoachDanGo]

How to destroy your life

-Don't exercise
-Be a pessimist
-Spend all day indoors
-Don't get enough sleep
-Complain about everything
-Blame others for your circumstances
-Eat a diet full of hyper processed foods
-Wake up and immediately go on your phone
-Follow people who spread fear and negativity

If you want a great life the opposite of this list.

[Iagon @IagonOfficial]

@Cardano_CF We planted 10,000 trees with VeriTree in 2021. Proof on chain. Check our ADA handle $iagon.com

[$bella @builder420_]

@OzDefi @IagonOfficial Fr 😓

[Defi-the-Oz @OzDefi]

So let me get this straight.

@IagonOfficial is building the Aggregator version of APIs

while IOG is trying to sell the community Blockfrost because it is so important (yet can't seem to make any money)

In addition Blockfrost will be a constant annual drain on the Treasury year after year.

No thanks Charles. You can keep it.

[Iagon @IagonOfficial]

Iagon Insight opens to everyone on Cardano.

For now, Iagon Insight serves enterprise partners like Fireblocks. In about six weeks, we're bringing it to everyone building on Cardano — individuals, projects, and businesses.

One API, all the data. Insight covers the endpoints and datasets you'd reach through Blockfrost, Maestro, Koios, and other providers - plus features that have never before been available to the Cardano community.

We're building this for the Cardano ecosystem at no cost — so there's no need to worry about whether other initiatives get funded or not. We've got you covered.

Full details in the coming weeks. Stay tuned.
Designed for Enterprise. Built for Everyone.

[$bella @builder420_]

@IOHK_Charles yes.

[Charles Hoskinson @IOHK_Charles]

In brainstorming Quantum Hosky, I've found a way to include most major Memecoins and GameFi. Conceptually, progress is steady, and the layered metaverse concept looks like the most unique and extraordinary conceived.

Midnight will bring the blockchain world to Cardano. BOS makes Cardano Bitcoin's DeFi layer. Quantum Hosky will bring the fun elements of the cryptocurrency industry together.

[$bella @builder420_]

@IOHK_Charles What a good pig

[$handle @adahandle]

Bring new vibes to your Cardano wallet this Summer with a customized ADA Handle!💚

Background Marketplace!?😱

Easy How To 👇

1️⃣ Go to Personalization
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[$bella @builder420_]

@cardano_whale @JSimulat3 💀