HomeNewsCardano (ADA) Fund10: A Decentralized Revolution in Action

Cardano (ADA) Fund10: A Decentralized Revolution in Action

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  • Fund 10 of Project Catalyst witnesses over 400,000 votes, with 192 projects being selected from more than 1,500 ideas.
  • Input Output Global’s Project Catalyst has undergone 10 successful rounds, funding more than 1,300 dApps to date.

Referencing a recent tweet by Input Output @InputOutputHK, the overwhelming success and dynamism of Cardano’s (ADA) decentralized funding initiative is evident in its latest round: Fund10.

Record Highs in Project Catalyst’s Tenth Iteration

Cardano’s decentralized funding initiative, Project Catalyst, has continually showcased the power of community-driven project development. In its most recent iteration, Fund 10, the initiative has achieved several record-breaking highs. As highlighted by Daniel Ribar, community and product head at Project Catalyst, over 400,000 ADA enthusiasts cast their votes, choosing from over 1,500 dApp ideas submitted by Cardano developers. From these submissions, the community selected 192 projects, setting a new benchmark for decentralized project selection.

Over 1,300 dApps Funded in Ten Rounds

Tracing back to its inception in 2021-2022, the first rounds of Project Catalyst have made significant strides in the world of decentralized development. Collectively, over the ten rounds, more than 1,300 Cardano (ADA) dApps have successfully received funding. These funded dApps not only attest to the faith of the Cardano community in decentralized projects but also highlight the continuous growth of the Cardano ecosystem.

Controversies and Future Projections

Not without its challenges, Fund 10 faced some heated debates within the Cardano community. Controversies arose when a single team applied for funding 29 times, asking for a combined funding of over $11 million. Another company, previously unheard of, claimed an association with Cardano inventor Charles Hoskinson, asking for a staggering 2,456,544 ADA without providing a clear project description. Despite these challenges, the Cardano community voted in favor of expanding the Project Catalyst campaign into the next year, anticipating further innovation and growth.

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Nikita Dmitrievich
Nikita Dmitrievichhttps://www.ethnews.com/
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