Cardano’s Main Grant Program, Catalyst, Temporarily Paused
- Co-founder of dcSpark Guillemot shares news of Catalyst project’s temporary pause.
- OptimismFND granted $45M to 41 projects, whereas Catalyst was granted only $39M to 1154 projects.
- Synthetix and Perpetual Protocol topped the chart with $9 million.
Sebastien Guillemot, Chief Technical Officer and Co-founder of dcSpark, a crypto ecosystem builder, stated that Cardano’s main grant program (Catalyst treasury) was put on temporary pause. As such, Guillemot stated that this was the time to see what the others in the industry were indulging in.
While ‘s main grant program (Catalyst treasury) is put on temporary pause to reflect on program effectiveness, it’s interesting to look at what others are doing@optimismFND: delegated voting for grants. $45M to 41 projectsCatalyst: $39M to 1154 projectsVery different pic.twitter.com/eV73V8ZnRq
— Sebastien Guillemot (@SebastienGllmt) November 3, 2022
Notably, Guillemot compared grants for OptimismFND against the grants for Catalyst Treasury.
OptimismFND is a non-profit organization that builds infrastructure and promotes the growth and sustainability of Ethereum. Catalyst Treasury is aimed at strengthening the Cardano ecosystem.
When the aforementioned entities were laid against each other, OptimismFND granted $45M to 41 projects, whereas Catalyst was granted only $39M to 1154 projects.
Moreover, Guillemot refers to the major margin in the apportionment of grants as “very different”. Additionally, Guillemot shared a list of projects and how much they were funded. According to the list shared, Synthetix and Perpetual Protocol topped the chart with $9 million.
Project Catalyst aims to involve community innovation. Catalyst brings on-chain governance to the Cardano blockchain by allowing the community to self-determine priorities for growth. It also enables the participants to deploy funding for proposals. These proposals tackle challenges and capitalize on opportunities that arise in the life cycle of Cardano.
Meanwhile, the price of Cardano today is $0.390532, with a 24-hour trading volume of $675,698,194. Cardano is down 0.39% in the last 24 hours.CoinMarketCap ranked Cardano #9, with a live market cap of $13,407,327,801. Moreover, it has a circulating supply of 34,330,889,470 ADA coins and a max supply of 45,000,000,000 ADA coins.
It will be interesting to see what proposals the Cardano community will bring once the Catalyst project kicks off. Much more interesting will be how as to how it’s the price of Cardano’s token ADA will react once these proposals are implemented in the chain.
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