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Cardano: Catalyst fund 3 launches with $500k, trumps all Ethereum DAOs combined

Fund 3 will make $500,000 available for community proposals to help drive Cardano adoption. The decentralized funding platform currently has more registered voters than all of Ethereum’s top 100 DAOs combined.

IOHK announced yesterday the launch of a $500,000 fund that represents the next stage of ‘Project Catalyst’. The fund is part of the launch of the Voltaire era as part of the Cardano roadmap. Fund 3 will allow community members to submit proposals for future Cardano development and decide which ones will be funded through Catalyst’s “on-chain” voting process.

The launch follows the conclusion of “fund 2,” which saw proposals submitted on everything from improvements to Cardano, to bringing Cardano to West Africa, to lowering the barriers to entry for developers on Cardano. Fund 2 allocated $250,000 to community-driven projects focused on improving Cardano.

Project Catalyst aims to be the world’s largest decentralized innovation fund, and with 1,752 community members registered to vote. It has already surpassed the number of unique voters in other projects like Dash, as well as all of Ethereum’s top 100 DAOs (decentralized autonomous organizations) combined.

Cardano’s path to decentralization

Catalyst is the next step in Cardano’s journey to hand over leadership of the platform to the community. It aims to inspire a wide range of technical and non-technical ideas to improve Cardano as a whole. This can include suggestions on everything from marketing initiatives and infrastructure development to content production and product improvement.

While $500,000 in funding is available in this round, subsequent rounds will offer even larger funding pots, with the goal of distributing around $100 million to Ada per year, depending on the token price.

In a press release shared with CNF, Charles Hoskinson, CEO at IOHK, said of the launch of Fund 3:

The founding principle of Cardano is decentralised control. This prin...
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