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IOHK Donates $250,000 Worth Of ADA To Cardano Development Initiative

Emily Mason

Summary: Blockchain research company IOHK is donating $250,000 worth of ADA to incentivise developers to build on Cardano, according to a recent announcement. The funds will go to Project Catalyst, an initiative geared towards supporting developing dapps on Cardano. The network allows developers to build directly on the website itself. ADA holders will be able to vote ...

Blockchain research company IOHK is donating $250,000 worth of ADA to incentivise developers to build on Cardano, according to a recent announcement.

The funds will go to Project Catalyst, an initiative geared towards supporting developing dapps on Cardano. The network allows developers to build directly on the website itself.

ADA holders will be able to vote on which development projects will receive funding, a move designed to hand more power over to the Cardano community. The first round of funding is capped at $250,000, but the plan is for the project to manage $70 million worth of funds annually, a recent tweet added.

By Emily Mason

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