Full Integration of CIP-113 with Clear Signing across Ledger Products

{
  "_meta": {
    "schema_version": "1.2.0",
    "filename": "hydra-ledger-cip-113-clear-signing.json",
    "ingested_at": "2026-05-11",
    "source": "Cardano Budget Process 2026 - Hydra/Ekklesia",
    "proposal_id": "69fd6b34f9ebc26d057f51d8",
    "title": "Full Integration of CIP-113 with Clear Signing across Ledger Products",
    "proposer": "Ledger Technologies SAS"
  },
  "proposal": {
    "id": "69fd6b34f9ebc26d057f51d8",
    "title": "Full Integration of CIP-113 with Clear Signing across Ledger Products",
    "proposer": "Ledger Technologies SAS",
    "submitted_at": "2026-05-08T05:22:00Z"
  },
  "ask": {
    "total_ada": 92700,
    "total_usd": 24102,
    "proposer_ada_rate_usd": 0.26,
    "duration_months": 6,
    "usd_peg_vs_market": "aggressive",
    "usd_peg_vs_market_set_by": "ai",
    "milestone_payments_disclosed": false,
    "milestone_schedule_disclosed": "none",
    "milestone_schedule_disclosed_set_by": "ai",
    "admin_fee_ada": 2700,
    "contingency_reserve_ada": 0
  },
  "identity": {
    "doxxed": true,
    "doxxed_set_by": "ai",
    "applicant_type": "company",
    "named_leads": []
  },
  "metadata": {
    "open_source": "unknown",
    "open_source_set_by": "ai",
    "open_source_notes": "Licence and IP terms not specified in proposal.",
    "has_prior_delivery": true,
    "has_prior_delivery_set_by": "ai",
    "prior_delivery_notes": "Ledger Technologies SAS has historically maintained the Cardano Ledger app. No prior Cardano Treasury / Catalyst funding (proposer states 'N/A').",
    "admin_model": "intersect",
    "admin_model_set_by": "ai",
    "duplicate_of_existing_solution": {
      "value": "no",
      "confidence": "medium",
      "set_by": "ai"
    }
  },
  "treasury_return": {
    "has_return_clause": false,
    "return_clause_set_by": "ai",
    "treasury_favourability": "weak",
    "treasury_favourability_set_by": "ai",
    "return_mechanism_notes": "Proposer answered 'No' to treasury return question. No contingency reserve. Peg set at $0.26 (above ~$0.25 market)."
  },
  "relationships": {
    "competes_with": [],
    "related_proposals": [
      "hydra-ledger-cardano-app-maintenance-2026",
      "hydra-ledger-clear-signing-top5-dapps"
    ],
    "notes": "Three concurrent Ledger Technologies SAS proposals in same batch totalling 5,613,500 ADA at the $0.26 peg."
  },
  "ecosystem_demand": {
    "evidence_level": "moderate",
    "evidence_level_confidence": "medium",
    "evidence_level_set_by": "ai",
    "active_users_known": true,
    "active_users_examples": [
      {
        "name": "Existing Ledger users holding ADA / native tokens",
        "kind": "user",
        "url": null
      }
    ],
    "developer_demand_signals": [
      "CIP-113 is a community-developed token standard that adoption by major wallets and hardware is generally desirable",
      "Clear-signing is a recognised hardware-wallet security best practice"
    ],
    "adoption_risk_notes": "CIP-113 adoption by Ledger has clear ecosystem value once token issuers and dApps use the standard. However, the proposal does not name token-issuer adopters of CIP-113 nor evidence that the demand-side (token issuers, integrators) is ready to consume Ledger-side CIP-113 support. The integration may run ahead of, or behind, ecosystem adoption — proposal does not address sequencing."
  },
  "incumbents": {
    "has_existing_solution": "no",
    "has_existing_solution_confidence": "medium",
    "has_existing_solution_set_by": "ai",
    "existing_solutions": [],
    "differentiation_claim": "Ledger argues only the manufacturer can deliver native CIP-113 integration into Ledger Signer / Live / Enterprise with hardware-level clear signing. No alternative providers exist for in-device Ledger integration.",
    "differentiation_credibility": "high"
  },
  "risk_flags": {
    "aggressive_peg": true,
    "self_administered_no_oversight": false,
    "incumbent_already_delivering": false,
    "no_evidence_of_demand": false,
    "competes_with_in_batch": false,
    "concentration_risk": true
  },
  "notes": {
    "ai_review_notes": "Smallest of the three Ledger proposals (92.7k ADA). The substance — getting clear-signing CIP-113 support into Ledger hardware — has genuine security value for the Cardano ecosystem. Same structural issues as the other Ledger proposals: (1) work package description, objectives, success metrics are placeholder text ('detailed proposal is currently being finalized'); (2) no milestone breakdown — 'integration will be done in one go ... no milestones other than upon completion'; (3) no treasury return; (4) no third-party assurance allocated; (5) above-market peg at $0.26. The relatively small size and clear scope make this the most defensible of the three Ledger proposals from a delivery-risk perspective — but DReps are still being asked to approve without a concrete spec or milestone breakdown."
  },
  "id": "hydra-ledger-cip-113-clear-signing",
  "source": {
    "hydra_id": "69fd6b34f9ebc26d057f51d8",
    "channels": [
      "hydra"
    ]
  }
}