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Cardano: These are the 11 projects that will receive $250,000 from Fund2

  • 11 projects were selected by the Cardano community as part of Project Catalyst’s Fund2.
  • The development of the Daedalus wallet voting center will be completed in the second or third quarter.

The Cardano community is celebrating the closing of Fund2. As part of Project Catalyst, the first phase of the Voltaire-era roadmap, the 11 proposals that will divide $250,000 in ADA among themselves to further the development of the Cardano ecosystem were announced yesterday.

After Shelley launches in 2020, Cardano has two near-term goals: more decentralization and the deployment of smart contracts. The project Catalyst is an “early experiment in deployment” of the governance model that Voltaire will have. Through Catalyst, the community has a central role in which direction the platform’s development should go.

Accordingly, ADA holders were able to vote and select the 11 winning Fund2 projects. The “Create message signing standard” proposal received the most votes with 359 million ADA, followed by “Liquid: Cardano DeFi Lending Markets” with 357 million ADA and “Cardano for Mobile dApp Developers” with 248 million.

IOHK also published a detailed list of all the projects, as well as the number of votes, the full proposal and the number of funds they will receive. The project that will receive the most money from Fund2 is “Liquid: Cardano DeFi Lending Markets” with $41,195. In addition, the list of rejected projects was also published, many of which reached the minimum number of votes to be approved. However, the proposals were not submitted in the required time.

Projects that won the community vote will receive their funding by the end of January this year. IOHK Product Manager Dor Garbash was enthusiastic about each of the projects and stated:

On behalf of the Project Catalyst team, we want to congratulate all of these exciting projects (…). Project Catalyst is all about putting the community in command of Cardano and you have demonstrated that the future of our ecosystem is in very good hands.

A voting system will be added to Cardano’s Daedalus wallet

IIOHK CEO and inventor of Cardano, Charles Hoskinson, also released a video celebrating the Fund2 allocation and congratulating the community and the selected projects. Hoskinson acknowledged that the voting process was “a bit rocky,” but hopes it will be made “easier” for future funds.

Soon, next quarter or the next, all of these things will be added to Daedalus. Including the voting results and the voting table. All the voting tools and the voting center. Of course, all the historical things will also be there.

At the same time, Hoskinson revealed that IOHK is discussing the possibility of launching an “acceleration” program. Through such an initiative, “some projects” would receive support to “reach the next level” and prepare to be elected in Project Catalyst. In addition, there is talk of installing a dedicated team to provide support and assistance to improve the decision-making and voting process.

As reported by CNF, Project Catalyst Fund3 has already been launched with a total of $500,000 to be allocated to new participants. The inventor of Cardano hopes that the launch of other similar Funds will be done more frequently in the coming months to “increase their impact” on the ecosystem.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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