Project Catalyst, Cardano’s decentralised innovation fund, is making waves once more as it announces the launch of Fund 10 with a stunning 50,000,000 ADA allocation, or more than $16.35 million, for Builders and Innovators. This shows a dedication to the growth of the Cardano ecosystem.
The change happened not long after the project was put on hold. Known for hatching new ideas at Project Catalyst, Daniel Ribar shared the information on Twitter and tagged the relevant Cardano community members.
Ribar mentioned the Fund 10 schedule, noting that this year’s submission period will begin on June 22 and end on July 13, while the voting period will last from August 31 to September 14. Furthermore, Ribar underlined that this funding pool is only in ADA tokens and is one of the biggest in the crypto community to date. This action demonstrates the project’s dedication to adopting the ADA economy.
Response from the Cardano Community
The happy news attracted interest from the larger Cardano community, with one supporter wondering why the ADA community would distribute such an unusual number of ADA tokens given its price of less than $0.5.
He stated, “Curious why it would be in the community’s best interest to spend 50M ADA at price points between $0.20 and $0.45.”
In answer, Ribar gave insightful explanations of how the treasury helps to promote ecosystem development and long-term sustainability. He pointed out that it would take at least 10 epochs to recover the funds of this size at the current rate of replenishment, which is around 5.5 million ADA per epoch. Ribar underlined that the Cardano Treasury now contains approximately 1.28 billion ADA, each epoch lasting five days.
However, the 50 million ADA fund was only the beginning, according to ADABreathes, a Cardano stake pool operator (SPO), indicating a promising future for the community’s creators, dreamers, and inventors.
Project Catalyst has played a crucial role in enabling people and teams to put forth, consider, and fund projects that promote innovation and expansion within the ecosystem. In a related development, the Cardano Catalyst program recently began three crucial initiatives that, as revealed in April, are advancing the Cardano ecosystem by providing outstanding investment returns.