The Cardano community approved a funding proposal, supporting key upgrades within the ecosystem. This event marked a new phase in the platform's governance.
Approval of Funding by Cardano Community
On August 3, the Cardano community voted in favor of a funding proposal developed by Input Output Engineering (IOE). More than 73% of voters supported the initiative, unlocking funds from the Cardano Treasury for core network upgrades. This decision became part of the new governance after the Chang upgrade was implemented. Following the voting results, ADA's price increased by 5%, reaching $0.7265 with a market capitalization of $25.65 billion.
Charles Hoskinson's Thoughts on the Snek Proposal
After the vote, a proposal from the Snek community, a memecoin on the Cardano platform, came to light. The Snek team requested 5 million ADA from the treasury to fund exchange listings. Charles Hoskinson, the founder of Cardano, expressed that the funding could be structured as a bond that repays the treasury with interest. He also emphasized that public funds should not cover listing fees for any projects, including Midnight.
Market Analysis and Price Prospects for Cardano
In addition to the treasury vote, other news has contributed to the growing interest in Cardano. Analysts noted ADA's high growth potential, and the Polymarket platform raised the odds of ETF approval for Cardano in 2025 to 83%. These events attracted market participants' attention to ADA, particularly in the context of upcoming proposals and investor reactions to future upgrades.
The approval of funding by the Cardano community was an important step toward more active management of the ecosystem, opening new avenues for its development.
