The Cardano Foundation is taking significant steps to bolster decentralization and governance within its ecosystem by delegating a substantial amount of ADA to selected representatives. This initiative is part of a broader strategy to enhance community participation and ensure diverse perspectives in decision-making processes. The publication provides the following information:
Cardano Foundation Delegates 220 Million ADA
In a recent move, the Cardano Foundation has delegated a total of 220 million ADA to 11 Delegated Representatives (DReps), valued at approximately $77 million at current market prices. This delegation aims to empower community members and encourage resilience in governance by allowing them to participate actively in decision-making processes.
Selection of Delegated Representatives
The selected DReps were either chosen by the community or are recognized figures within the Cardano ecosystem. Their role is to vote on governance issues on behalf of the token holders who have delegated their votes. This initiative builds on a previous program from 2023, where the Foundation delegated 140 million ADA to seven DReps, bringing the total community delegations to an impressive 360 million ADA.
- 220 million ADA to 11 DReps
- 140 million ADA to seven DReps in 2023
Goals of the Cardano Foundation
The Foundation's overarching goal is to minimize its self-delegation influence, ensuring that governance decisions reflect a wide array of perspectives. By doing so, the Cardano Foundation aims to strengthen the ecosystem and promote a more inclusive governance model.
Despite the Cardano Foundation's recent efforts to enhance governance by delegating 220 million ADA, the market has reacted negatively, with ADA's price declining following critical remarks from founder Charles Hoskinson. For more details, see further information.
