Cardano founder confirms $700M ADA Treasury is decentralized with its own growth fund


The creator of Cardano and IOHK, charles hoskinsonstated that its $723 million treasury has its own growth fund and is decentralized.

Charles’ response was in response to Sebastian Guillemot, the founder of dcSpark. It was in response to an appreciative tweet from Sebastian about how the Cardano treasury has a whopping $723 million in ADA. He wrote that companies like dcSpark could build seamlessly on Cardano’s treasury.

dcSpark also announced that two major tool announcements would be made in 2 weeks. dcSpark is a crypto ecosystem that provides a platform to develop different crypto projects.

Thanks to Cardano, it is not only about dcSpark, but many projects can grow smoothly with the help of funding.

Cardano is gaining consistency with its developments

Cardano had received a lot of criticism for not releasing its developments on time. The initiative had made great promises that it had not kept in many respects.

Cardano, on the other hand, has just gotten back on track with a slew of new releases on its platform. About 900 projects are now being developed on the ADA platform.

After months of constant brainstorming, the Cardano team released the test version of djed on May 4. Djed is a decentralized algorithmic stablecoin created by COTI and built on the Cardano blockchain (ADA).

Users can test the core capabilities of the protocol in a safe, simulated context using test funds because Djed is released in a restricted environment. This will also allow everyone to gain a better understanding of the dynamics of the protocol without putting themselves in harm’s way.

However, ADA is currently trading at $0.6582 as the entire market seems to have been hit on the head. But the whales that were offloading ADA since December seem to be piling up, as they recently accumulated more than 196 million tokens.

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