The recent completion of Fund 10 by Cardano’s Project Catalyst reaffirms its dedication to nurturing innovation and promoting community-driven development. Funded by ADA, the Cardano community actively participates in proposing, voting for, and backing projects that contribute to the ecosystem’s growth, showcasing its decentralized fundraising prowess.
Here are the main highlights and key insights from Fund 10:
Fund 10 saw an impressive influx of proposals securing funding, with 192 projects garnering support from the Cardano community. This substantial funding allocation has reinforced Cardano’s standing as a blockchain platform dedicated to actively investing in a wide spectrum of projects, underscoring its dedication to fueling innovation across multiple domains.
A substantial sum of 50 million ADA was earmarked for Fund 10, delivering vital capital to the chosen projects. This financial infusion empowers innovators and developers, enabling them to transform their ideas into reality and play a pivotal role in the expansion of the Cardano ecosystem.
A notable achievement reached during Fund 10 was the significant upswing in community involvement. Approximately 409,000 votes were cast during this funding round, representing an impressive 12.48% increase compared to Fund 9.
This surge in voting engagement stands as a testament to the burgeoning commitment of the Cardano community towards shaping the platform’s future. With Fund 10 successfully endorsing 192 proposals, Project Catalyst has now backed over 1,300 ideas in total.
This continuously expanding collection of projects underscores the diverse and flourishing landscape of innovation within the Cardano community. It exemplifies the platform’s unwavering dedication to nurturing ideas and providing the essential resources to transform them into reality.
Cardano garners endorsement from prominent industry leaders.
In a noteworthy development within the cryptocurrency market, Binance, the world’s largest crypto exchange, made a significant announcement on May 30th. They revealed their intention to introduce trading pairs for Cardano (ADA) and Litecoin (LTC). This strategic move is anticipated to create fresh opportunities for traders while enhancing liquidity on the Binance platform.
Cardano has prominently established itself as an appealing blockchain protocol, showcasing a series of upgrades and innovative features integrated into its ecosystem. From Hydra Head to Mithril, Cardano has consistently pursued excellence, a commitment that is now further complemented by the projects funded in the latest Fund 10 Campaign.