According to Wu, Cardano's Chang hard fork will take place this month. Cardano co-founder Hoskinson said that once the Chang hard fork occurs, the governance of the Cardano blockchain will be driven by the community rather than a centralized entity running Cardano. After the Chang hard fork is completed, ADA token holders will have governance rights and be able to vote on changes to Cardano. The upgrade will also introduce other DAO-like elements to Cardano, such as voting rights delegation, a budget for the project team, and a treasury managed by the community. ADA, which was once the third largest cryptocurrency by market value during the 2021 bull run, has now fallen to 11th place.