IOHK launches $250K fund to foster new Cardano applications

IOHK, the blockchain research and development company, today announced the first funding round of the Cardano blockchain’s decentralized governance component, ‘Project Catalyst’. Community members can submit proposals regarding the future development of the Cardano blockchain and decide, through a novel voting process, which proposals are funded.

This first public funding round is made up of $250K worth of Cardano’s native cryptocurrency, ADA, which will be allocated to implement different proposals for the Cardano ecosystem. With this introduction of a voting and treasury system, network participants will be able to use their stake of ada to vote on proposals and have their say in the ongoing development of the platform This marks an exciting step forward in the development of Cardano, as it moves towards becoming a fully decentralized blockchain governed entirely by its community.

Timeline of Cardano