Cardano’s Community Drive: Over 900 Proposals Eye 50M ADA

Top Cardano builders submitted 920 ideas, and ADA holders will pick which project will receive a portion of the 50 million ADA community funds.

The Cardano research and development team Input Output Global (IOG) published its weekly report, as it does every other week, outlining recent advancements and significant milestones reached by the well-known blockchain.

Cardano's Community Drive: Over 900 Proposals Eye 50M ADA
Source: Forbes
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The report’s revelation of the ongoing Project Catalyst’s Fund11 voting process is its most important feature. Over 5,000 wallets have expressed interest in the Fund11 voting process since it began last month, according to the study.

All all, these wallets have voted on over 150,000 ideas totaling 50 million ADA ($26.1 million) in requests for community support.

It’s interesting to note that the project supports the goal of the Cardano community, which is to finance innovation on the top blockchain. It is noteworthy that 920 proposals offered a range of approaches to address certain problems impeding Cardano’s expansion.

The 920 proposals include a variety of concepts, fixes, and goods created for usage with Cardano. They also include methods to increase the ecosystem’s worldwide reach and enhancements to the Catalyst Voting System.

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The release states that the Fund11 vote will conclude on February 8, 2024, at 11 AM (UTC), the following week. ADA holders who took part in the exercise, however, will not be able to learn the outcome until February 15 from the IOG.

Developers Category Has the Biggest Budget for Cardano Open
With 11.5 million ADA, the Cardano Open: Developers section won the most budget of all the categories.

With the start of #Fund11 voting, #ProjectCatalyst has evolved into a celebration of the spirit of innovation in its entirety.

Voting is open until February 8 at 11 AM UTC. []

Projects that tackle a crucial question—namely, whatever open-source tools are necessary to support the sustainable growth of the Cardano ecosystem—are welcome submissions in this category.

Here, 127 proposals are competing against one another, and each must highlight its unique ideas and range of finances.

ADA is now trading at $0.522, up 0.7% from the previous day.

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