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    "comment": "I am voting Abstain on the Bifrost: Unlocking Bitcoin DeFi on Cardano Road to Mainnet (Phase 1 of 2) proposal.\n\nI rate the direction and design highly. SPO threshold custody is the right approach built on Cardano's structural strengths, and with no bridge token, no founder allocation, open-source release, and fee surplus returning to the Treasury, this is close to public infrastructure worth Treasury support.\n\nStill, approval is difficult at this point.\n\nFirst, cost. Phase 1 alone is about 1.97 million dollars (12,332,031 ADA), with Phase 2 for launch and operations planned separately at about 1.3 million, putting the full commitment near 3.3 million dollars. The proposal should be judged against that total, and at the Treasury's current capacity that is not a scale to approve lightly.\n\nSecond, sequencing. Bifrost's Catalyst Fund 14 milestones are not yet complete. The verifiable order is to finish and evaluate the prior work first, then request funding for the next stage.\n\nI recognize the public-good design, but given the total cost and the incomplete prior work, I am withholding support for now. If resubmitted after Catalyst completion, I would actively reconsider."
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