Mithril Protocol
Teragone Factory
ID: 69f3529e1e63d3708e0dadb6
Mithril solves one of Cardano's most pressing infrastructure challenges: the cost and complexity of securely accessing and verifying blockchain state. As today full node synchronisation is slow and light clients rely on centralized trust. Mithril addresses this by using stake-based threshold multi-signatures to certify Cardano state in a trustless way, enabling nodes and applications to verify state rapidly without relying on the entire chain.
Scorecard
How this score works
Each criterion is worth between 1 and 4 points. The score is the points earned out of the points on criteria that have been answered — shown as a percentage. Green is 75% or higher, Amber is 50–74%, and Red is below 50%.
Some criteria are checked automatically against the proposal data (open source, doxxed team, treasury return clauses, etc.). Others are human-judgment calls — value for money, public good, whether the deliverables are realistic. Those stay blank until a DRep ticks them.
Criteria can also be marked Not applicablewhen they don't fit the proposal — for example, "open source" doesn't apply to a DAO governance proposal with no software output. Those are excluded from the score entirely, neither helping nor hurting.
Green requires 80% coverage. If less than 80% of the applicable criteria (by points) have been answered, the verdict stays at Amber — "pending review" — even when every answered criterion passes. This proposal's coverage is currently 68% (13 of 19 applicable criteria answered). The auto-calculated band would have been Green, but coverage is below the threshold so the verdict is shown as Amber to flag that judgment criteria are still pending.
Vote intent
Export & audit
↓ Download scorecard.mdRaw payload · Treasury (true) / Admin (intersect)
{
"_meta": {
"schema_version": "1.2.0",
"proposal_id": "69f3529e1e63d3708e0dadb6",
"proposal_title": "Mithril Protocol",
"proposer": "Teragone Factory",
"filename": "hydra-mithril-protocol-teragone.json",
"processed_date": "2026-05-11",
"title": "Mithril Protocol"
},
"ask": {
"ada_amount": 3739559,
"usd_amount": 934890,
"ada_usd_rate_assumed": 0.25,
"usd_peg_vs_market": "neutral",
"duration_months": 6,
"milestone_payments_disclosed": true,
"milestone_schedule_disclosed": "amounts_and_dates",
"milestone_notes": "12 milestones broken out by ADA amount, weeks (4-12 each), and acceptance criteria. Note: one milestone ('Infrastructure for production and testing of Mithril') has 'N/A' as acceptance criteria."
},
"identity": {
"doxxed": true,
"doxxed_notes": "Teragone Factory is a registered company with public LinkedIn presence; 3+ years collaborating with IOG on Mithril."
},
"metadata": {
"open_source": "yes",
"has_prior_delivery": true,
"prior_delivery_notes": "Teragone has been developing Mithril for ~3 years through IOG funding; Mithril is a live protocol with active aggregator/signer infrastructure. No prior Catalyst/Treasury funding directly.",
"admin_model": "intersect",
"admin_notes": "Intersect administers with 3% fee; Dquadrant (Ronald Span) provides independent audit/assurance with established Mithril audit history.",
"duplicate_of_existing_solution": {
"value": "no",
"confidence": "high",
"set_by": "ai"
}
},
"treasury_return": {
"has_return_clause": true,
"treasury_favourability": "moderate",
"return_notes": "Unused budget returned; fair portion of surplus from favorable ADA price variation returned. Adverse ADA movement may reduce milestone scope rather than trigger repayment."
},
"relationships": {
"competes_with": []
},
"ecosystem_demand": {
"evidence_level": "moderate",
"evidence_level_confidence": "medium",
"evidence_level_set_by": "ai",
"active_users_known": true,
"active_users_examples": [
{
"name": "Cardano SPOs running Mithril signers",
"kind": "operator"
},
{
"name": "Cardano node bootstrap users (Mithril fast-sync)",
"kind": "user"
}
],
"developer_demand_signals": [
"Mithril is a live protocol with operational aggregators and signer network",
"Faster node sync is a known ecosystem pain point",
"Alternative full node clients KPI (target: 2+) in 2030 strategy depends on accessible sync infrastructure",
"Cross-chain interoperability use cases for state proofs"
],
"adoption_risk_notes": "Mithril has existing user base through SPO signer network and fast-sync users. Demand for continued protocol improvements (IPFS storage, SNARK proofs, SPO onboarding UX) is structural rather than driven by named external integrators. Transition from IOG funding to community funding is genuine continuation of established work."
},
"incumbents": {
"has_existing_solution": "no",
"has_existing_solution_confidence": "high",
"has_existing_solution_set_by": "ai",
"existing_solutions": [],
"differentiation_claim": "Teragone is the existing development team for Mithril with 3+ years of work; transition from IOG-funded development to community-governed funding model.",
"differentiation_credibility": "high"
},
"risk_flags": {
"aggressive_peg": false,
"self_administered_no_oversight": false,
"incumbent_already_delivering": false,
"no_evidence_of_demand": false,
"competes_with_in_batch": false,
"concentration_risk": true
},
"id": "hydra-mithril-protocol-teragone",
"source": {
"hydra_id": "69f3529e1e63d3708e0dadb6",
"channels": [
"hydra"
]
}
}