Cardano Unveils Project Catalyst: Here's What its All About

Cardano was founded in 2017 and was named after the Italian polymath Gerolamo Cardano. Cardano’s founder, Charles Hoskinson, announced the introduction of the Alonzo hard fork in August 2021, causing a jump in the price of Cardano, which climbed by 116% the next month. Now, according to the latest news that surfaced, Cardano has announced the launch of Project Catalyst, a community-focused initiative.

According to the details from a recent tweet, Project Catalyst is coming back online. Details reveal that Fun10 is going to be 50,000,000 ADA. The funding is also one of the largest in the ecosystem yet.

— Daniel Ribar 🐣 (@danny_cryptofay) June 7, 2023

Cardano’s Project Catalyst, set to occur during Fund 10’s submission window from June 22 to July 13 and voting timeline from Aug. 31 to Sept. 14, marks a notable advancement in on-chain governance.

ADA price performance

According to CoinMarketCap data, ADA is trading at $0.3276, with a 2.5% drop in value over the last 24 hours. The recent comment by the SEC on ADA being a security has also affected its price.

ADA is currently down by almost 89.45% from its all-time high on September 2, 2021. The recent scrutiny by the SEC has had repercussions on the whole cryptocurrency market.