The Cardano community approved a $71 million funding proposal to support ongoing network upgrades over the next year led by Input Output Engineering.
Proposal Approval and Its Implications
According to Cardano network statistics, the proposal received 74% support, amounting to 200 votes in favor, 6 against, and 7 abstentions. The funding will be disbursed from the network's on-chain treasury on a milestone basis, overseen by the organization Intersect.
Key Goals of the 12-Month Plan
The roadmap developed by Input Output Engineering focuses on three central goals: scalability, developer experience, and interoperability. Notable upgrades include Ouroboros Leios, which aims to enhance performance of the consensus system without compromising decentralization or security.
Funding Oversight and Distribution
The approved $71 million will be distributed in milestones. Oversight will be conducted by Intersect, ensuring that payments are made only upon verifiable achievement of technical objectives. Furthermore, developers will be required to provide monthly updates and reports to ensure transparency at each step.
The approval of $71 million in funding paves the way for significant developments in Cardano, emphasizing transparency and long-term platform growth.
