Team of Project Catalyst, largest decentralized incubator on Cardano (ADA), shared details of its latest round
Cardano , the second-largest proof-of-stake blockchain by market captalization, has just finished its decentralized funding initiative, Project Catalyst. Its tenth iteration set an impressive number of record-breaking highs in key metrics.During Fund 10, the latest iteration of Cardano's incubator Project Catalyst, over 400,000 ADA enthusiasts managed to vote for promising projects on the blockchain.
According to Ribar, more than 1,300 dApps received funding in 10 rounds of Project Catalyst. The first rounds of Project Catalyst took place in 2021-2022.Then, during the voting procedures, ADA holders with a certain amount of tokens in their decentralized wallets, Yoroi, are able to review the submissions and choose the most promising ones.The Cardano community has already voted that Input Output Global should expand its Project Catalyst campaign for the next year.
The list of applicants for Project Catalyst Fund 10 rewards was heavily criticized by some Cardanians. For instance, a single team applied for funding 29 times. In total, the sum of its projected funding exceeded $11 million in equivalent.to be funded by Cardano inventor Charles Hoskinson and claimed $20 million in funding, even lacking a description of what it was building.
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