Cardano's Project Becomes The World's Largest DAO

The Cardano Catalyst project, a community initiative built to support early-stage protocols and decentralized applications (dApps), has grown into the world's largest DAO in the past few weeks.

During the second fundraising, the $250,000 ADA was distributed across the most valuable protocols identified by the community. As the project approaches its fourth fundraising, Fund 4, IOHK has revealed that it has over 1,800 active voters as well as 7,000 registered supporters.

Fund 4 has raised over $1 mln so far. However, according to an IOHK spokesman, the target should be at least $15 mln by the end of the year. It is also worth noting that in parallel with this initiative, the Cardano network itself has recently undergone a significant update. Mary's hard fork took place on March 1st, an update that brought long-awaited native functionality with multiple assets on the Cardano blockchain. Users of the network can now mint their own Non Fungible Tokens (NFT) on the Cardano mainnet.

Image: Medium