11 Cardano Projects Will Receive an initial Fund from Project Catalyst

11 Cardano Projects Will Receive an initial Fund from Project Catalyst
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Input Output published the list of new projects that will receive the Project Catalyst fund. These teams work on innovative upgrades on Cardano, and the fund will help them progress faster. The ultimate goal is to help the creative groups expand the Cardano ecosystem. The initial fund in Project Catalyst is $250,000 that will be rewarded to 11 chosen teams.

Helping the Community Growth

Funds are standard solutions from companies to encourage and help developers. In the blockchain world, funds are critical because they help startup teams develop their projects faster. The final result will be more active developers in a community. The community will be more successful in attracting new users that will help the industry grow. Input Output is one of the most vital supporters of the Cardano community. Their Project Catalyst program aims to help development teams faster and easier.

The new fund from Project Catalyst is named Fund2. It’s the first stage in a roadmap called Voltaire. The main goal is to attract and encourage developers to find innovative ideas that help the Cardano community grow. The Fund2 project participants pitched, debated, refined, and voted on proposals using real ADA tokens. It was the first time that such projects were managed by the token.

After days of evaluating and voting for/against the projects, 11 proposals are chosen to receive the $250,000 fund. These proposals focus on solutions that attract new developers to the community. Each of them proposes a new upgrade in the Cardano blockchain that eases the development processes.

PoolTool platform upgrade is one of the winners of the Fund2 that focuses on offering additional products to stake pool operators. The ultimate goal of this proposal is to improve infrastructure diversity in the blockchain. Other winning proposals are:

  • Ouroboros over RINA
  • Haskell/Plutus/Marlowe education
  • Create a message-signing standard
  • Liqwid: Cardano lending markets for decentralized finance
  • Cardano for mobile DApp developers
  • GimbaLabs – starter kits and tools
  • Lovelace Academy for Marlowe and Plutus
  • Sign Tx Arduino
  • Pet Registry DApp with ₳Pay:
  • Japan Cardano Governance Association: Meetings & Communities & Podcasts

Project Catalyst will be more active in 2021, encouraging developers to be more involved in the Cardano community. According to the announcement post by Dor Garbash:

“We have bold and ambitious plans for Project Catalyst in 2021, with ADA worth millions of dollars being made available to fund innovation on Cardano. Submission for proposals for Fund3 will open tomorrow, don’t miss out on the opportunity to make your voice heard.”

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