The Cardano community has conducted a historic vote, approving a $71 million budget for the platform's development. This is the first direct budget allocation for core development supported by a significant number of votes.
Approval of the Budget Vote
Cardano received 74% approval for a $71 million budget, with 200 votes in favor. This decision marks the first direct resource contribution from the community for core platform enhancements.
Funding Strategy and Milestone Oversight
Funding will be released in stages based on achievable milestones verified by Intersect, Cardano’s governance body. Input Output Global (IOG) is required to submit monthly reports and quarterly financial data.
Community Reaction and Future of the Project
Despite alternative proposals, Intersect supported the IOG plan. Intersect board member Adam Rusch assured that the direction remains a community decision.
The budget approval is a significant step for Cardano, providing resources for development and enhancing transparency. The future of the project relies on successful milestone achievement and community feedback.
