Cardano: These are the projects that are competing for 2 million ADA

  • The Cardano Effect has presented 3 candidates from the project Catalyst.
  • The selected projects will receive $250,000 or 2 million ADA from Cardano Fund2.

The development of Cardano Voltaire era continues to progress. Therefore, the Cardano community is working together to create governance mechanisms. One of the most important is programs the project Catalyst. In a new edition of the podcast “Cardano Effect”, 3 of the projects for the program have now been presented.

Catalyst is funded by Fund2 which will grant 2 million ADA ($250,000) to the winning project. As such, Catalyst can be defined as “the early deployment experiment” of the Voltaire era governance model. Its ultimate goal is to give control of Cardano to ADA holders. The program consists of stages that will last “several weeks” and will conclude with a community vote.

Who are the candidates for project Catalyst of Cardano?

The first project presented in the podcast was “Free Commerce”, an open-source platform that proposes to eliminate the intermediaries between providers and consumers of a product or service. Within the project, the Cardano blockchain will be the gateway to e-commerce that operates without fees. Furthermore, the project seeks to integrate ADA payments into “all e-commerce platforms”.

However, in its initial phase, the e-commerce platform would be integrated only with Shopify Store and would allow “ADA to flow from buyer to seller”. Therefore, they would launch a Shopify application that would give their users access to 500,000 online stores worldwide. Purchases in these stores are estimated to generate $800 million in sales per second.

This project seeks to receive funding of 724,437 ADA for its first year of development. The solution will not require users to open accounts, it will work on a “wallet to wallet” basis:

In short, our solution works as a mere observer of transactions made from one or more (customer) addresses to another from the store owner (associated with an online purchase). Funds go straight to the shop owner wallet.

The second project is called “Lovelace Academy Marlow Plutus” and consists of a 25-episode series to “evangelize” about Cardano and its smart contracts. The series would be divided into two parts and would be launched on YouTube with one daily episode a week over a 6-month period and a duration of 10 minutes to one hour. The project presented the following plan:

Expanding the Cardano ecosystem through education is our main goal and this constantly evolving space means our work is never done. As larger updates are rolled out (e.g. KEVM, IELE, etc.) we want our watchers be fully aware of breaking changes, newly established best-practices and killer features.

One of the risks involved in the project is the possible updating any of the components in the Cardano smart contract platform at the time of launching an episode. The team states that in this situation, they would try to keep the information updated as well. The total cost of the project is 120,740 ADA for the 6 months that the series should last.

Finally, the third project is called “Cardano Hub”, a solution to create a physical space for “ADA adoption,” community building, and “involvement of developers and entrepreneurs in the Cardano ecosystem”. The project plans to hold meetings, have bookstores and co-working spaces, as well as cafés, focused on the 3 upcoming phases of Cardano (Goguen, Basho, and Voltaire). The first proposed location for the Cardano Hub is Kyiv, Ukraine:

(The Cardano Hub) can use the CIA technique (Cooperation, Integration, Assimilation) in relation to other blockchains. I.e. with some blockchain and project we cooperate, with some we integrate (like Litecoin or BCH), and some – assimilate (many blockchain projects don’t really need own blockchain and they can exist on Cardano blockchain and issue their token.).

However, the Cardano Hub plans to be a meeting place for other crypto projects as well. The creator of the project has requested 888,888 ADA for a period of one year. This will allow the operation of the Cardano Hub facilities to be maintained.

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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