Here Are Results of Cardano Project Catalyst Fund 7

Cardano

Cardano on-chain governance initiative shows its impressive results

Project Catalyst Fund 7 has ended, so we can inspect all important data collected by Cardano enthusiasts and data analysts that will allow us to see how many projects have been funded and how many votes have been collected and cast.

According to the provided data, 269 projects received funding during the seventh round. More than 50,000 wallets were actively distributing votes on the platform, which is almost 30% growth since the last funding round.

A total of 574 projects have been funded over the past seven cycles, representing an increase of nearly 100% since the last Project Catalyst Fund.

What is Cardano Catalyst?

According to the official website, Project Catalyst is a series of “experiments” designed for generating the highest level of community innovation via on-chain governance by allowing the community to choose certain projects that will prioritize the growth of the network in the future.

The catalyst helps deploy funding for proposals aimed at solving existing problems on the blockchain and improving the quality of life in the Cardano ecosystem.

Proposers can submit their projects via the official Cardano Project Catalyst website and receive funding from the treasury. But to receive funding, they should present an existing problem and a real way of solving it with the help of the presented solution.

Anyone who owns ADA can participate in the governance of Cardano Project Catalyst and support the solutions they deem most important to the ecosystem. By supporting certain projects, users are able to shape the future of the Cardano ecosystem and make it something they want to see in the future.

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