Cardano (ADA), one of the largest proof-of-stake (PoS) networks, inches closer to its next major milestone on its way to fully decentralized governance. Input Output Global (IOG), a Cardano (ADA) core tech development entity, signals its full support for the upcoming Plomin hard fork activation.
Cardano's IOG pledges support to Plomin upgrade
The Cardano (ADA) blockchain hit a massive milestone on its Plomin hard fork schedule. Today, Jan. 18, 2025, Input Output Global (IOG) green-lit the activation of Plomin on the main network. As demonstrated by IOG, this means that all conditions for the governance action stated by Interim Constitution have been met.
IOG representatives highlight, as the time arrives for Plomin upgrade activation, both internal and independent technical review and scrutiny have been conducted.
Also, at least 85% of stake pools by active stake have upgraded to a sufficient Cardano client node version (10.1.3 or 10.1.4) that is capable of processing the consensus rules associated with the more advanced protocol version, as outlined in guardrail HARDFORK-04.
Besides that, IOG added that all necessary conditions have been supported by readiness reports from Intersect's Hard Fork Working Group.
As such, Cardano's (ADA) transition toward the Plomin phase is now deemed constitutional.
Cardano (ADA) TVL up by 25% YTD, data says
In January 2025, Cardano (ADA) made a decisional step toward the full decentralization of its governance. Cardano (ADA) staker community is ready to approve Constitution, a core document for the next stage of the ecosystem evolution.
The surging interest in the Cardano (ADA) ecosystem is reflected by the growth of its total value locked (TVL) across DeFi protocols with ADA.
Cardano TVL surged from $430 million to $538 million since Jan. 1, 2025. Liqwid, MinSwap and Indigo DeFis are responsible for over 60% of this amount.
The Cardano (ADA) price is attempting to stay above the $1.07 level, being 4.8% down in the last 24 hours.
