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  "body": {
    "comment": "We support the objective of strengthening Cardano DeFi and believe AlphaGrowth has relevant experience to contribute.\n\nOur remaining concerns are mainly around how success and Treasury value are measured. TVL growth alone is not enough, especially when liquidity is incentive-driven. We would like stronger emphasis on durable liquidity retention, protocol fees, stablecoin depth, active users, transaction volume, and activity that continues after incentives decline.\n\nWe also remain concerned about the overall level of AlphaGrowth compensation, the relatively large and broadly defined marketing budget, the lack of stronger ADA/USD protection, and the long-term sustainability of the model if similar Treasury-funded incentive programs are needed again in the future.\n\nThe proposal addresses a real weakness in Cardano and we want to see the initiative succeed, but these points prevent us from giving an unconditional YES."
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