Cardano Community Approves First-Ever Core Development Funding Worth $71 Million
- Cardano ratified 96.8 million ADA treasury withdrawal to fund IOE’s 2025 development roadmap.
- Over 74% of DRep voting power supported the proposal, surpassing the 67% threshold.
- The action was also approved by five of seven constitutional committee members.
Cardano governance has approved a $71 million, equivalent to 96.8 million ADA tokens, from the treasury to fund Input Output Engineering’s (IOE) 2025 core development roadmap.
The ratified action received strong support from both Delegated Representatives (DReps) and constitutional committee members, marking a key milestone in decentralized funding.
Widespread Support for Cardano Treasury Proposal
The governance vote began on July 18 and was scheduled to conclude on August 17. However, the proposal passed well ahead of the deadline, garnering 74.01% support from DReps. A total of 3.76 billion ADA in voting power backed the measure, exceeding the required 67% approval threshold.
Related: Cardano’s EMURGO-Led Global Branding Strategy Heads to Final Treasury Vote
Only 23.86 million ADA voted against the proposal, while 7.49 billion ADA abstained. An additional 1.12 billion ADA in stake did …
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Cardano Community Approves First-Ever Core Development Funding Worth $71 Million
- Cardano ratified 96.8 million ADA treasury withdrawal to fund IOE’s 2025 development roadmap.
- Over 74% of DRep voting power supported the proposal, surpassing the 67% threshold.
- The action was also approved by five of seven constitutional committee members.
Cardano governance has approved a $71 million, equivalent to 96.8 million ADA tokens, from the treasury to fund Input Output Engineering’s (IOE) 2025 core development roadmap.
The ratified action received strong support from both Delegated Representatives (DReps) and constitutional committee members, marking a key milestone in decentralized funding.
Widespread Support for Cardano Treasury Proposal
The governance vote began on July 18 and was scheduled to conclude on August 17. However, the proposal passed well ahead of the deadline, garnering 74.01% support from DReps. A total of 3.76 billion ADA in voting power backed the measure, exceeding the required 67% approval threshold.
Related: Cardano’s EMURGO-Led Global Branding Strategy Heads to Final Treasury Vote
Only 23.86 million ADA voted against the proposal, while 7.49 billion ADA abstained. An additional 1.12 billion ADA in stake did …
The post Cardano Community Approves First-Ever Core Development Funding Worth $71 Million appeared first on Coin Edition.
Read More
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