Cardano Community to Control $680 Million ADA Treasury: Power to the People

IconCryptoNewsTerminal Staff14 Jun, 2024

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Cardano Community to Control $680 Million ADA Treasury: Power to the People

Cardano, the proof-of-stake blockchain, is set to empower its community by handing over control of its $680 million ADA treasury. This significant move will be implemented through the upcoming Chang hard fork. The ADA treasury, currently valued at $6.819 billion, will be transferred to the community, giving them the authority to manage and allocate funds for the development and growth of the Cardano ecosystem. This transition to community control aligns with Cardano's commitment to decentralization and community governance. By empowering the community, Cardano aims to foster a sense of ownership, encourage participation, and drive innovation within the ecosystem. The community will have the opportunity to guide the future direction of Cardano and ensure that the treasury is utilized in a way that benefits the entire network. This momentous step by Cardano showcases the growing trend towards community governance in the blockchain industry. As the crypto space evolves, projects are recognizing the importance of involving their communities in decision-making processes. The transfer of treasury control to the community empowers them to shape the future of Cardano and drive its continued success.

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