The Cardano community has made a significant decision to allocate a $71 million budget for key developments, receiving substantial support from voters.
Approval of the Development Budget
The vote took place on August 3, 2025, within the Blockchain. This marked the first instance of community-controlled direct budget allocation. Of the 200 votes cast, 74% participants supported the initiative. Funds will be released gradually based on milestones verified by Intersect.
Plans for Network Improvements
Input Output Global (IOG) plans to provide monthly progress reports and quarterly budget summaries. Upcoming updates include scalability improvements in Hydra and a modular node design through Project Acropolis. The proposal also includes terms for smart contract collateral and an independent oversight committee.
Market Reaction and Cardano's Future
Following the announcement, the ADA coin's price rose by 2.79%, reaching 0.7418, surpassing the 200-day moving average. Analysts note an increase in active addresses, indicating heightened interest. Cardano founder Charles Hoskinson stated that resources will be allocated towards public infrastructure rather than exchange listings.
In summary, the approval of the development budget for Cardano highlights the growing interest in the project and the community's intent to actively participate in enhancing its infrastructure and capabilities.
