Cardano has seen significant developments in past few months
shared by daniel ribaro Cardano’s Treasury balance of IOG’s Project Catalysts community/products division has now reached the 1 billion ADA mark, worth approximately $437 million at the current exchange rate.
The Treasury’s goal is to provide funds to support Cardano’s development through a voting system. This necessitates a process whereby funds are routinely sent to the Treasury to ensure that funds are always available.
Cardano’s Voltaire Era introduced a decentralized voting and treasury system to empower the community to influence Cardano’s development and provide a funding mechanism to transform Cardano into a self-funded, self-sustaining environment.
Cardano has seen significant developments in the past few months as more projects are building on it. Currently, 1,075 projects are building on Cardano, while 93 projects have recently been launched on Cardano. Cardano native tokens stand at 5.9 million with 60,468 minting policies, while Plutus scripts are now at 3,117.
Some of these initiatives may receive funding from the Treasury. Previous Project Catalyst Fund 8 winners and other funding initiatives received over 27 million ADA tokens in June.
Vasil draws even closer
According to Tim Harrison, VP of community and ecosystem at IOG, “Cardano SPOs making good progress over the weekend with upgrades—block producing node metric at 58% for the epoch so far and the hourly on 76%. Very pleasing trajectory. Exchanges & DApp developers also working hard behind the scenes. We’re getting there.”
According to data from PoolTools, the block-producing node metric is now 77%. To trigger the upgrade, 75% of the mainnet block must be created by the last Vassil node candidate (1.35.3). In addition, IOG set a metric of about 25 exchanges being upgraded (representing 80% liquidity).
As of IOG’s recent report, Bitrue, NDAX.io and LCX indicated readiness for Vasil, while Binance and several others were upgrading their nodes. IOG stated that several exchanges will commence their integration work this week, starting Aug. 29.
Similarly, the top Cardano dApps are currently undergoing final integration testing and upgrades, with some already in the “testing” state.
