Cardano Announces Key Stage for Project Catalyst Funds: Details

Cardano Builder Input Output Global (IOG) has announced the commencement of a key stage for Project Catalyst, a decentralized grant fund.

In a new tweet, IOG declared that Project Catalyst Fund 11 voting is officially open. Project Catalyst is a growth engine and grant program for the Cardano ecosystem, with funding rounds every few months and a set amount of ADA available to allocate to ideas.

🗳️Project Catalyst Fund11 voting is officially OPEN!

Participate in shaping the future of decentralized innovation on #Cardano.🌐
Cast your votes until February 8, 11:00 UTC.

How to vote: ➡️ https://t.co/e6rCLP0QLh pic.twitter.com/5vCTnRNE17

— Input Output (@InputOutputHK) January 25, 2024

At the start of each fund, members of the community submit proposals based on categories posted on the Project Catalyst platform. The community votes, and funding is granted to the winning initiatives to bring them to fruition.

Fund 11 covers six categories for submitted proposals, grouped broadly into three Cardano use cases: concept, solution and product. The second is Cardano Open, which covers developers (technical) and ecosystems (nontechnical). The third is catalyst system improvement, which includes discovery and development.

The voting for Fund 11 will last until Feb. 8 at 11:00 a.m. UTC. During this period, Cardano holders who have registered their wallets can vote on over 920 proposals for the above-mentioned categories.

The funding available for Fund 11 (F11) is 50 million ADA, the native cryptocurrency of the Cardano network.

Looking ahead, the announcement of Fund11-selected proposals is expected around Feb. 15, 2024, while onboarding of F11-funded proposals is anticipated in March 2024.

In the past week, Kriss Baird, Head of Product at Project Catalyst, discussed in a blog post about Catalyst Working Groups, referring to the Catalyst Team’s roadmap proposal to the Cardano community. These are intended to create the first iteration of community-led, data-driven analysis that informs potentially important changes to the scope of future catalyst funding rounds.

The Catalyst Network, formerly known as the Coordinator, is a collective of projects from all rounds of funding.

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