05 Dec 2023
20 Million USD in grants to builders on Cardano
Project Catalyst, a cornerstone of the Cardano ecosystem, is making waves with its Fund11, boasting a substantial fund size of 50 million ADA, equivalent to about 20 millon USD with today´s price.
What is Project Catalyst?
Project Catalyst is like a public square where ideas, collaboration, and execution converge to solve real-world problems. It's an entry point for grassroots innovation on Cardano, one of the largest decentralized innovation funding portals.
This initiative is not just a funding mechanism but a dynamic community of innovators, creators, and visionaries, all collaborating to drive real-world value and growth within the Cardano blockchain.
The mission is to build systems that enable Cardano to enhance its self-sustaining capabilities by supporting an ecosystem of growth and development. Central to this is decentralized governance, where the Cardano community selects shared ideas and priorities for funding, forming a cycle of sustainable and virtuous growth.
How Project Catalyst Works
Project Catalyst operates through community-driven funding rounds. Community members submit proposals for projects that can advance the Cardano ecosystem. These proposals undergo a review and voting process by the community, ensuring a democratic and transparent selection. Winning projects receive grants in ADA, providing the necessary resources to bring their ideas to fruition.
Latest Developments in Project Catalyst for Fund 11
Announced by the IOG Catalyst team, Fund11 introduces new funding categories and a track-based approach, including 'Cardano Use Cases' divided into Concept, Solution, and Product tracks, 'Cardano Open' for technical and non-technical proposals, and 'Catalyst System Improvements', divided into Development and Discovery
You might notice that all of them don't add 50 Million ADA, that is because the rest will be distributed between Voters and reviewers.
Why Consider Building on Cardano?
Cardano's architecture offers a blend of security, scalability, and sustainability, ideal for impactful and enduring projects. Its focus on research and development provides a fertile ground for innovation. Project Catalyst, with its significant funding and community support, presents an attractive opportunity for developers to contribute to the Cardano ecosystem. Not only that, if you have experience in business development and technical knowledge in a specific area you can also participate as a community reviewer, a task which is rewarded with ADA. You can learn more about Project Catalyst here
The Roadmap Ahead
Conclusion
Project Catalyst is a testament to community-driven innovation, shaping the future of the Cardano ecosystem. It offers an unparalleled opportunity for developers, entrepreneurs, and creatives to be part of a transformative journey. The potential for growth and innovation on Cardano, fueled by Project Catalyst, is immense.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
