The Plomin hard fork signifies Cardano’s move towards decentralized governance. At least 85% of stake pools have upgraded their nodes, and over 51% of operators supported the initiative.
With this upgrade, ADA holders can participate in governance actions such as treasury withdrawals and hard forks. The introduction of decentralized representatives (DRep) is a key feature of this transition.
The governance changes were confirmed constitutional and submitted on December 20. ADA currently trades at approximately 0.91 USD, experiencing a decline of over 5% within 24 hours.