Cardano’s Fund 11 has initiated the voting process for the allocation of 50 million ADA, allowing the community to support various blockchain projects. The Cardano ecosystem continues to grow, with the addition of nine new projects and increased transaction activity, indicating the interest of developers and users.
Cardano Builder Input Output Global (IOG) has announced the official opening of the voting stage for Project Catalyst Fund 11. Project Catalyst is a grant program and growth engine for the Cardano ecosystem, with funding rounds held every few months. A specific amount of ADA is available to be allocated to innovative ideas.
The voting for Fund 11 began on January 24, 2024, and will continue until February 8, 2024, at 11:00 a.m. UTC. This voting process is crucial in empowering the Cardano community to shape the future of the blockchain ecosystem. ADA holders who have registered their wallets can actively participate in the voting process and evaluate over 920 project proposals.
The projects are categorized into six categories, including Cardano use cases, Cardano Open, and Catalyst system improvement. Cardano enthusiasts and stakeholders are actively participating in the voting process to support the most promising projects within these categories.
After the voting phase concludes on February 8, 2024, the winning proposals for Fund 11 will be announced around February 15, 2024. The implementation of these exciting initiatives within the Cardano ecosystem is expected to begin in March 2024.
To further enhance the Catalyst investment rounds, Catalyst Working Groups have been established. These groups aim to provide data-driven analysis and insights to influence the direction of future investments, showcasing the Cardano community’s commitment to continuous improvement.
The Cardano ecosystem continues to thrive, with nine new projects starting blockchain development in the past month. This growth demonstrates the ongoing interest and support from developers and enthusiasts.
Transaction activity on the Cardano network has also increased significantly, with three million transactions recorded from mid-December to the present. This is a notable increase compared to the two million transactions recorded between November and December 2023.
While the Cardano ecosystem flourishes, the ADA cryptocurrency has experienced price fluctuations. ADA’s price rose from $0.24 on October 19, 2023, to nearly $0.70 on December 14, 2023, representing a 185% increase. However, ADA is currently trading at $0.49, reflecting a 7% decline in the past week.
In conclusion, Cardano’s Fund 11 voting process empowers the community to support blockchain projects, while the ecosystem continues to grow with new projects and increased transaction activity. The future looks promising for Cardano as it strives to enhance its ecosystem and engage its dedicated community.