Cardano has the 8th biggest treasury in the crypto industry.
Upcoming upgrades would hand over Cardanoās treasury to the community.
Cardanoās growing treasury reserves reflect tightened network activity.
Cardano is on the verge of a significant milestone: handing over control of its $681.9 million treasury to its community. This move, highlighted by crypto asset tracker TapTools, underscores Cardanoās commitment to decentralization and community governance.
Cardano has the 8th biggest treasury in the industry, and it's being handed over to the community.#ChangHardFork @Cardano @IOHK_Charles pic.twitter.com/jXgquu8QsV
ā TapTools (@TapTools) June 14, 2024
A data screenshot attached to the TapTools post on X shows that Cardanoās treasury holds its native ADA tokens valued at $681.9 million at the time of the post. Unlike most blockchain protocols, Cardanoās treasury consists solely of ADA tokens, rather than a variety of stablecoins or other digital assets like Bitcoin and Ethereum.
Meanwhile, observers consider Cardanoās growing treasury reserves a reflection of increased network activity. Like most blockchain networks, Cardano uses its treasury to foster ecosystem development, and observers have hailed this structure as a fundamental pillar of the projectās sustainability.
According to the current stage of Cardanoās roadmap, the project runs a three-layered governance structure, with the Cardano Foundation overseeing the platformās development and promotion. Other governance elements include Input Output Global (IOG), formerly IOHK, responsible for Cardanoās research and development, and EMURGO, which focuses on commercial ventures.
The upcoming āChangā hard fork aims to fully decentralize Cardano where the community of ADA holders will take over the networkās governance. In an interview, Cardano founder Charles Hoskinson confirmed that the final implementation of āVoltaire,ā the era of community governance, is underway, dismissing concerns about the blockchainās health amid stagnant token prices.
Cardanoās robust treasury reserve supports Hoskinsonās assertion of a healthy ecosystem. Observers attribute the growing treasury to increasing network activity on the blockchain. Notably, the treasury accumulates funds from transaction fees and a portion of block rewards. The upcoming upgrade would empower the community to propose and vote on projects eligible for the treasuryās funding.
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