Logo
Cardano Ecosystem

DeFi-Planet

11/13/2024

·

49 views


Cardano Foundation Reports $478M in Assets, Majority in ADA Tokens

The Cardano Foundation, a nonprofit organization focused on advancing the Cardano blockchain ecosystem, has reported assets totalling $478 million for 2023, with most of these held in Cardano’s native ADA...

Cardano Foundation Reports $478M in Assets, Majority in ADA Tokens

The Cardano Foundation, a nonprofit organization focused on advancing the Cardano blockchain ecosystem, has reported assets totalling $478 million for 2023, with most of these held in Cardano’s native ADA tokens.

According to its 2023 Financial Insights Report, released on November 13, around 82.5% of the foundation’s assets are in ADA, with 10.1% in Bitcoin and the remainder in U.S. dollars. The foundation’s funds are primarily derived from an ADA endowment and ADA voucher sales.

CEO Frederik Gregaard highlighted that the report demonstrates the foundation’s commitment to transparency and open-source values, providing stakeholders with a detailed view of its resource allocation.

The report specifies that $19.22 million was directed toward three strategic areas: adoption, education, and resilience. Additionally, $4.55 million was spent on operational costs to strengthen the foundation’s capacity. An investment of $2.12 million went toward enhancing network resilience, focusing on improving Cardano’s durability and reliability, which has enabled it to operate continuously for over 2,000 days.

In the education domain, the foundation invested $4.18 million to foster regulatory clarity, encourage blockchain research, and drive enterprise adoption. Key initiatives included the launch of the Cardano Academy, the Cardano Explorer, and the “Let’s Talk” webinar series, along with hosting the 2023 Cardano Summit in Dubai. Another $12.92 million was allocated to adoption efforts, underscoring the foundation’s commitment to expanding Cardano’s use in various sectors.

This report follows Cardano’s recent “Chang” upgrade, which ushers in a shift towards decentralized governance that allows ADA holders to participate directly in the network’s future. The upgrade introduced on-chain voting and “liquid democracy,” a system that enables ADA holders to vote on governance issues directly or delegate voting power to chosen representatives, known as Delegate Representatives.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Give it a try. You can unsubscribe at any time.

Favour Okosodo

Experienced web content writer with a strong command of SEO, specializing in creating concise, engaging content that drives traffic and enhances conversions across diverse industries.

AD

Cardano Catalyst Project - Discover and Vote for our proposals in Fund 13 by December 12, 2024 11:00 UTC

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Cast your vote today, find our proposals by searching "CardanoFeed" in the Voting App.Vote for Us


Read Original Article on DeFi-Planet

ORIGINAL SOURCE

https://defi-planet.com/2024/11/cardano-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from DeFi-Planet

See more
Best Altcoins to Invest in Today: Qubetics Prepares for Major Surge, Stacks’ Innovative Smart Contracts, and Near Protocol’s New Partnerships
DeFi-Planet
Best Altcoins to Invest in Today: Qubetics Prepares for Major Surge, Stacks’ Innovative Smart Contracts, and Near Protocol’s New Partnerships

today at 10:59 AM

·

3 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)