IOHK launches $250k fund, enabling community to realise innovative applications of Cardano
IOHK Launches $250K Fund, Enabling Community To Realise Innovative Applications Of Cardano
September 17, 2020
IOHK launches $250k fund, enabling community to realise innovative applications of Cardano
IOHK Launches $250K Fund, Enabling Community To Realise Innovative Applications Of Cardano
September 17, 2020

Leading blockchain research and development company, IOHK today announced the first funding round of the Cardano blockchain’s decentralised governance component, ‘Project Catalyst’. A $250k funding round, Catalyst is designed to encourage developers and entrepreneurs to build on top of the Cardano blockchain.

Community members can submit proposals regarding the future development of the Cardano blockchain and decide, through a novel voting process, which proposals are funded. This is the first component of the ‘Voltaire’ phase of the Cardano roadmap to be launched, following the surprise announcement at Cardano Virtual Summit that ‘Voltaire’ would be delivered by the end of this year.

This first public funding round is made up of $250K worth of Cardano’s native cryptocurrency, ADA, which will be allocated to implement different proposals for the Cardano ecosystem. This fund will act as a pilot, eventually aiming to control around $70 Million of ADA per year. Proposals can encompass a wide range of ideas, from marketing initiatives and infrastructure development to business planning and media asset creation. With this introduction of a voting and treasury system, network participants will be able to use their stake of ADA to vote on proposals and have their say in the ongoing development of the platform This marks an exciting step forward in the development of Cardano, as it moves towards becoming a fully decentralized blockchain governed entirely by its community.

ALSO READ :  Bitfinex Borrow Adds Cardano (ADA) as Collateral

Proposals from the previous test stages which are seeking funding aren’t solely related to the future of Cardano, but aim to use the tech to tackle big picture, real-world issues.

Proposals included:

  • A tiny houses project, powered by solar energy and underpinned by the Cardano blockchain, to tackle the housing crisis, democratize land ownership and give the homeless the opportunity to to get off the streets.
  • A remittance system underpinned by Cardano to tackle the difficulties offshore workers face sending money to their native countries – unfortunately, many lose around 5-7% every time they send money home, but with a blockchain-based system these fees could be almost entirely eliminated.
  • Using Cardano to enable large-scale medical trials, harnessing existing medical data. This has the potential to provide good indicative data on the best course of action when identifying treatments in significant health emergencies, such as the current Covid-19 pandemic. Cardano would enable the provision secure and anonymous medical data, as well as allowing trial subjects to monetize their own medical data.
  • A system to cut out the middleman when distributing tamper proof tickets and verifying access to events, combating problems with outlandish fees and ticket touting.
  • Building and promoting new channels to support and encourage women in the blockchain space.
ALSO READ :  Expedia Lets Travelers Book Hotels With Cryptocurrency Through

“Following the launch of Cardano’s decentralised era, in July, the platform has continued to accelerate. One of our goals has always been to ‘reinvent’ venture capital and make it fairer, and this fund is the next piece in the puzzle to achieve this. The fund, combined with its democratic voting system, means that every ada holder can be a part of making key decisions for the future of the ecosystem.”

Charles Hoskinson, CEO of IOHK

Charles also added:

IOHK and Cardano are privileged to have a creative, committed and talented community behind us, who share our goals of democratizing finance and essential services, and this shines through in some of the brilliant proposals we have received during the test processes. Looking ahead as we hand the keys to the community, this bodes very well for the future of Cardano.”


The fund (Fund 2) is the first to be open to the public and to award real cash to projects, and follows ‘Fund 0’ and ‘Fund 1’, successful, internal, IOHK ‘test drives’ of this new, on-chain governance system, the second of which was with a pioneer group of 50 developers.

ALSO READ :  Cardano Successfully Completes Shelly Hard Fork


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

AXA To Offer Its Customers Pay With Bitcoin

AXA To Offer Its Customers Pay With Bitcoin

AXA, Europe’s second-largest insurance firm, has planned to offer its customers the option to pay their bills with Bitcoin (BTC) through a collaboration with the established cryptocurrency broker Bitcoin Suisse. It has...

Crypto News Point

Editor in Chief, Crypto News Point - A news portal covering the latest news, analysis, trends, reviews, and happenings in the blockchain and crypto sphere.