- Cardano’s Project Catalyst embarks on a new phase with the opening of Fund 11 voting, offering 50 million ADA for community-selected projects.
- This initiative focuses on three key use cases in the Cardano ecosystem: concept, solution, and product development, along with enhancements in the Catalyst system itself.
Project Catalyst: Steering Cardano’s Growth
Input Output Global (IOG), the builder behind Cardano, has heralded a significant stage for its decentralized grant fund, Project Catalyst. With the official opening of Fund 11 voting, Cardano embarks on a new chapter of community-driven growth and innovation.
🗳️Project Catalyst Fund11 voting is officially OPEN!
Participate in shaping the future of decentralized innovation on #Cardano.🌐
Cast your votes until February 8, 11:00 UTC.
— Input Output (@InputOutputHK) January 25, 2024
Empowering Community Decision-Making
Project Catalyst, a cornerstone of the Cardano ecosystem, operates as a dual growth engine and grant program. It features funding rounds every few months, where a predetermined amount of ADA, Cardano‘s native cryptocurrency, is allocated to community-approved projects. This approach not only fosters innovation but also ensures that the community’s voice plays a central role in determining the ecosystem’s direction.
Diverse Categories for Diverse Innovations
The Fund 11 encompasses six categories, broadly grouped into three primary use cases for Cardano: concept creation, solution development, and product realization. This categorization reflects the diverse range of applications and innovations within the Cardano ecosystem. Additionally, Cardano Open covers two segments: technical developments for developers and nontechnical aspects for ecosystem growth. The third category, catalyst system improvement, focuses on discovery and development, underscoring the ongoing evolution of the Catalyst program itself.
Voting Process and Timeline
The voting period for Fund 11 extends until February 8, 2024, at 11:00 a.m. UTC. During this phase, registered Cardano wallet holders can cast their votes on over 920 proposals across the specified categories. The total funding pool for this round is a substantial 50 million ADA, highlighting the scale of investment in community-led projects.
Anticipation is building for the announcement of selected proposals around February 15, 2024, with the onboarding of Fund 11-funded projects expected in March 2024.
Catalyst Working Groups: Shaping Future Funding
Kriss Baird, Head of Product at Project Catalyst, recently discussed the Catalyst Working Groups in a blog post. These groups represent a community-led, data-driven approach to analyzing and potentially refining the scope of future Catalyst funding rounds. This initiative symbolizes the Catalyst Network’s commitment to continuous improvement and adaptability.
As Project Catalyst forges ahead with Fund 11, it stands as a beacon of decentralized innovation and community engagement in the blockchain arena. Cardano holders now have the opportunity to shape the future of the ecosystem, highlighting the power of collaborative development in the world of blockchain and cryptocurrency.
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