Cardano's Project Catalyst is driving blockchain innovation with its on-chain governance model

This initiative enables the Cardano community to vote on how treasury funds are allocated to various projects on the platform.

Cardano's Project Catalyst, a unique initiative that empowers the community to govern the blockchain's treasury funds, has concluded Fund12 voting. This round saw an impressive 1,205 project proposals vying for funding, showcasing the diverse and innovative ideas within the Cardano ecosystem.

After a thorough community review process, the results of Fund12 are set to be announced during the week of July 15. The latest funding round attracted a wide range of project proposals, highlighting the varied interests and goals of the Cardano community.

Following the announcement of the successful proposals, the onboarding process will begin, ensuring project accountability and completion. This process includes regular “proof of life” meetings and milestone approvals by assigned community reviewers.

While the precise number of funded projects isn't fixed, recent trends indicate that around 13% to 33% of proposals can expect to receive funding, based on available treasury funds and community votes.

As the Cardano community eagerly awaits the Fund12 results, it's worth noting some key changes recently implemented in the Catalyst process to enhance fairness in the funding process.

Fund11 introduced crucial updates, including the removal of downvoting capabilities to minimize the potential for whale manipulation. Additionally, categorized funding with capped ADA amounts in each category helped focus development goals and streamline the project selection process.

In Fund12, the “Cardano Open” category received the highest funding allocation, with 10.5 million ADA dedicated to general initiatives such as technical developments and educational programs.

In contrast, the “Cardano Ecosystem” category attracted the most proposals, with 408 out of the total 1,205 submissions. However, this category had the least funding available, with only 5.5 million ADA allocated.

The highly competitive Ecosystem category featured innovative proposals ranging from plans for a Cardano e-sports team to an in-person Cardano event and even a documentary about the blockchain platform.

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