Wednesday, May 5, 2021

Cardano (ADA) Announces $1 Million Funding for Project Catalyst New Stage; Releases New Daedalus Wallet

The team at IOG formerly IOHK, the software company behind the development of the smart contract platform, Cardano (ADA), has shared the details of “the most accessible & ambitious round” of project Catalyst.

$1 Million Funding for Project Catalyst New Stage Released

According to IOG, Project Catalyst, a unique community-driven initiative launched to facilitate the growth of the Cardano ecosystem, has since been gaining traction remarkably.

Considering the number of crypto enthusiasts involved, the adoption increases on a daily basis.

Therefore, beginning from Fund4, voting for the most valuable projects will be fully integrated with the Daedalus wallet.

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The minimum amount of the digital token ADA for a voter is set at 3,000 ADA to prevent the system from spamming messages.

Additionally, the net sum of funding has increased to $1,000,000 worth of ADA. The report also added that 20% of Project Catalyst treasury funds will be distributed among community advisers, referrers, and participating voters for their contribution.

“NEW BLOG: Project Catalyst Fund4 will be our most accessible & ambitious round yet – with $1 million in ADA available for building on Cardano and full voting integration in Daedalus to bring more of the community onboard than ever before.”

In the third quarter of 2020, Project Catalyst was launched with the aim of supporting and coordinating the development of decentralized applications for the Cardano (ADA) blockchain.

New Daedalus Flight Released

Yesterday, the developers at IOG released the new version of the ADA wallet, Daedalus Flight. The new version supports all of the specifications introduced by the recent Mary hard fork.

The announcement reads as follows:

“NEW FLIGHT: Daedalus Flight is our pre-release program for Daedalus power users who want to help us test out early Cardano mainnet wallets and new features…

“Prior to full mainnet release, it adds core support for the upcoming Cardano ‘Mary’ protocol update which will deliver native token support to Cardano, due to be deployed to mainnet at the end of this month.

Read Also: First Tests of Decentralized Shelley Network Were Successfully Run By Cardano (ADA) Team

“This Daedalus update is packed with fresh features updates for experienced users to try out. The new version includes:

  1. Displays your wallet balance in fiat format or crypto of your choice
  2. Transaction details expanded to include metadata, fee details & ADA deposits
  3. Now supports configurable SMASH servers
  4. We’ve added support for Ledger devices configured with a secondary PIN
  5. Last but not least, you can now import old wallets from ‘secret.key’ files of old Daedalus versions”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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