The Cardano Foundation published its inaugural financial report, detailing its 2023 expenditure. This effort underscores its commitment to transparency and openness.
Cardano Spent $23.77M Last Year
According to the report, the Cardano Foundation allocated $23.77 million across three core areas: $2.12 million on operational resilience, $4.18 million on education, and $12.92 million on adoption. The funds were used to enhance the network's reliability, support educational initiatives, and foster new use cases.
Scaling Diversity and Quality
The Cardano institution focused on enhancing the diversity and quality of network activities, ensuring a balanced mix of legacy and blockchain-native use cases. By end 2023, the foundation's assets were valued at $478.24 million, with 82.5% in the native token ADA, 10.1% in bitcoin, and the rest in US dollar liquidity.
Conclusion
The Cardano Foundation's financial report demonstrates substantial investment into the blockchain network's future. The information allows assessment of the organization's results and potential.
Cardano Foundation continues to focus on adoption, education, and operational resilience, demonstrating financial transparency and strategic network development.
