Cardano (ADA) Unveils Potential Project Catalyst Fund 12 Beneficiaries

The Cardano Foundation has shared a list of the potential beneficiaries of its Project Catalyst Fund 12 campaign.

Cardano Fund 12 Draws to a Close

The Foundation took to X to state that its Project Catalyst Fund 12 will soon come to a close. As such, it gave a public hint into its first-ever participation in Project Catalyst voting.

Notably, Project Catalyst is described as Cardano’s hub for community innovation. It was designed to propel on-chain governance to the Cardano by giving power to the community to self-determine priorities for growth. This is the first time that the Cardano Foundation is joining the Project Catalyst voting. The goal is to vote and onboard proposals that align with its strategic plans.

As Fund 12 comes to a close, we are proud to announce our first ever participation in Project Catalyst voting.

This milestone reflects our dedication to shaping @Cardano‘s future through resilience, education and adoption.

Learn more in our blog:https://t.co/LyVqkhT7be

— Cardano Foundation (@Cardano_CF) July 17, 2024

For this Fund 12, the Foundation has its focus on three areas. First, it plans to enhance operational resilience to position Cardano as a robust infrastructure for institutional-grade use cases. Promoting education to increase understanding of third-generation blockchains is another focus of the foundation. The last is driving adoption by reducing operational costs and improving tooling to encourage widespread integration. Hence, all chosen participants must align with these focus areas.

The Cardano Foundation is equally placing priority on innovative on-chain solutions in traceability, authenticity, and sustainability. These goes a long way in determining proposals that make it to the list. Support for open-source initiatives, contributions to Cardano’s governance model, and the historical performance of project teams in previous Catalyst rounds are also additional criteria.

Selected Proposals For Cardano Fund 12

The first selection on the list is Partners and Real World Integrations. Some of their work includes ACCO2-The end of eco-fraud, Cardano & Klūh Group, and FC Barcelona + Community Management + Using Cardano Tech amongst others.

The next is Cardano Open-Ecosystem which has worked on 9 DAO Sample projects and Better Governance for Progessional Groups with Cardano DAO Tools. The other proposals in the selection features Cardano Open-Developers, Cardano Use-cases Concept, MVP and Products.

This Project Catalyst is an event that underscores Cardano’s commitment to fostering innovation and community-driven development.  The previously held cohort including Fund 10 and 11 were quite successful. Project Catalyst Fund 10 held in 2023 with 192 projects receiving support from the Cardano community.

A total of 50 million ADA was allocated to Fund 10, providing much-needed capital to the selected projects.

Read More: 21Shares Files Updated Spot Ethereum ETF S-1, Reveals Sponsor Fee

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