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HomeNewsProject Catalyst Milestone: Cardano's Fund 11 Voting Phase Now Underway

Project Catalyst Milestone: Cardano’s Fund 11 Voting Phase Now Underway

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  • 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.

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.

Conclusion

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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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628
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