- Project Catalyst community voting has come to an end.
- The Cardano innovating engine drew over 1400 unique projects.
- Fund Data revealed interesting trends about Cardano builders and what they were interested in building.
Project Catalyst drives innovation and growth within the Cardano ecosystem, consistently garnering proposals from some of the most exciting development projects over its nine successful funding rounds.
After two months of submissions, community voting for Project Catalyst’s latest and largest funding round, Fund 10, has concluded, revealing interesting trends as members and projects eagerly await results.
Project Catalyst Fund 10 Nears a Successful End
Project Catalyst’s Fund 10 has marked itself as one of the most successful and largest funding rounds in the Cardano ecosystem, boasting over $50 million in ADA or approximately $16.5 million up for grabs. The grant has attracted submissions from top-tier projects and startups within the industry, all working to solve the network’s challenges.
Highlighting the success of the funding round, Project Catalyst revealed that over 1,467 projects submitted proposals, a 22% jump from the previous round. Adding to its milestone achievements, it also amassed over 400,000 votes, the most since the program started. Among the 13 challenges set by the fund operators, the Products and Integration category emerged as the clear favorite, amassing over 450 unique submissions and a 9 million ADA budget.
The surging interest in the category indicates that developers are focused on providing solutions surpassing centralized providers. Some of the most interesting proposals in this category included Real Estate Oracles, Blockchain-based Social Media and content-sharing platforms, Web3 Games, and more.
The Development and Infrastructure category trailed closely behind, featuring over 188 proposals and an 8 million ADA budget. With over 400,000 votes cast between these projects, the fate of the grant recipients now lies in the hands of the community and project managers, who will decide the winners in the upcoming weeks.
To put things into perspective, out of 1,200 projects, Project Catalyst approved 216 in the previous round. Considering the fund’s current scale, it could approve 300 to 400 projects this year.
On the Flipside
- IOG recently raised alarms for requesting 2.14 million ADA or $700,000 to maintain fund operations and ensure Project Catalyst runs smoothly.
- Project Catalyst has distributed over $32 million in funding so far.
- Charles Hoskinson believes that by the summer of 2023, Cardano could surpass Bitcoin, Ethereum, and every other cryptocurrency in decentralization.
- Recent Santiment data named Cardano the industry’s top dev platform at press time, eclipsing competitors Polkadot and Kusama.
Why This Matters
Project Catalyst’s fund brings exciting opportunities and solutions to the Cardano ecosystem. The success of the current round indicates that developers are committed to expanding the network and introducing interesting concepts.
Read what Lace brings to Cardano’s staking:
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Follow up on why it’s easier to enter Cardano staking pools now:
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