- Cardano’s main developer, Input Output Global (IOG), secured 96 million ADA (approx. $71M) from the community treasury to fund a year-long roadmap of network upgrades.
- The funding will be used to enhance scalability with protocols like Hydra, improve developer tools, streamline onboarding via Project Acropolis, and increase cross-chain compatibility.
- To address community concerns about accountability, the funds will be released in stages based on milestones, with oversight from Intersect and a dedicated committee.
Cardano’s main development arm, Input Output Global (IOG), has secured approval to draw 96 million ADA, about US$71M (AU$109M), from the network’s treasury.
The funds will be used to support a year‑long slate of upgrades aimed at boosting scalability, developer tools, and cross‑chain compatibility.
The governance vote passed with 74% support, tallying 200 votes in favor, six against, and seven abstentions. Funding will be released in stages against specific delivery milestones, with the member‑based organisation Intersect overseeing administration.
Moreover, the payments will be tied to progress on upgrades, enforced through both smart‑contract mechanisms and oversight by a dedicated committee.
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Cardano’s New Roadmap
Under the plan, IOG must provide monthly status reports, detailed engineering timesheets, and quarterly budget disclosures.
The roadmap’s flagship initiatives include Hydra, a protocol designed for high‑speed, low‑cost transactions, and Project Acropolis, a modular overhaul of the Cardano node intended to streamline onboarding for new core developers and improve architectural flexibility.
Moreover, the organisation aims to cut resource demands and operational costs for stake pool operators by reducing RAM usage and enhancing performance, and lay the groundwork for more advanced smart contract capabilities and frictionless interoperability with other blockchains.
It should be noted that this approval comes amid some community unease over the size of the funding request and ongoing questions about accountability, though the milestone‑based payout structure and mandatory transparency measures are intended to address those concerns.
Subsequently, Cardano co-founder Charles Hoskinson ordered a full audit of the IOG’s treasury holdings. That report should be released anytime this month, according to Hoskinson. The audit was first promised in May after the founder faced community backlash over allegations that IOG had “improperly acquired” over US$600M (AU$920M) worth of ADA.
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