Recently, the Cardano treasury approved the allocation of 96 million ADA to its core development team for planned network enhancements.
Key Development Areas
The main areas targeted in the 12-month development plan include scalability, developer experience, and interoperability. Concerns from the community regarding expenses and transparency were also expressed.
Funding and Oversight
The request for 71 million ADA was approved by a 74% majority, translating to 200 votes, with six against and seven abstaining. Payments will be made upon the completion of milestones, with oversight managed through a dedicated committee.
Key Projects in the Plan
Key projects in IOG's proposal include Project Acropolis, a modular re-architecture of the Cardano node for more flexibility and faster onboarding of new core developers, and Hydra, a protocol for quick, low-cost transactions.
This marks the first time that the Cardano community has directly sanctioned funding for core development, highlighting the increasing engagement and activity of its members.
