Cardano-Based $ADA Project Seeks Funding via Community Voting for a Cause
Hey there! Exciting news from the Cardano world – Project Catalyst, a Cardano-based decentralized autonomous organization (DAO), has hit a major milestone by completing 1,000 projects. Kriss Baird, the general manager, shared this fantastic achievement on November 22, 2024.
So, what’s the big deal? Project Catalyst provides funding for Cardano-based projects that go through a decentralized decision-making process involving $ADA stakers.
Let’s take a quick look at the Proof of Impact Platform, another Cardano project. They recently selected the Palawan NGO Network Inc. to receive $ADA donations. The Palawan NGO Network is an organization that represents non-government organizations (NGOs) and people’s organizations (POs) in Palawan.
What exactly is Project Catalyst all about? Launched back in 2020, Project Catalyst is all about experimenting with on-chain governance and community-driven innovation on the Cardano blockchain using $ADA as its native token.
The goal? According to Baird, Project Catalyst aims to achieve top-notch community collaboration and support the best ideas with development funding through a community-moderated process.
Who can get involved? Project Catalyst is calling all Cardano-based projects in need of funding and $ADA stakers to participate as DAO voters and community reviewers.
Here’s a little breakdown of how it works: Project Catalyst holds funding rounds every few months. Right now, they are in the 13th round, Fund13.
Before each funding round, $ADA stakers within the DAO can submit proposals to tackle challenges set in the previous round. Once the proposals are in, the community votes, and funding is allocated to bring the best proposals to life.
Project Catalyst is all about community, innovation, funding, value, and growth. It’s a hub of future development and sustainable innovation driven by the Cardano community, for the Cardano community.
Let’s check out some of the noteworthy projects that Project Catalyst has funded:
– Cardano Africa Smart Farming DApp by Captivating Naturals
– Open Ledger for Agricultural Land by DigiFarm CEO Nils Helset
– Cardano Tunisia by computer science student Yosr Benmahmoud
– CNFT Festival Japan Meets the West by ThHddnOrdr
– Catalyst Site: Education Resources
If you’re curious about the projects funded or in progress, head over to https://projectcatalyst.io/funds.
Looking to submit a proposal? Keep an eye out for the next funding round, which is expected to start next year. Exciting things ahead!
