Cardano’s Project Catalyst Funding Paused Amid Transition to Foundation
- Project Catalyst has distributed over $150 million across more than 2,200 projects since its inception.
- Stewardship is transferring from Input Output Global (IOG) to the Cardano Foundation.
- Funds for Fund15 and Fund16, totaling approximately 18.5 million ADA and $250,000 in stablecoin, are being returned to the treasury.
- Fund14 will continue under its existing milestone process without disruption to current grantees.
- The transition aims to reassess governance structures and operational strategies for community funding.
The pause affects hundreds of applicants who prepared proposals for upcoming funding rounds, leaving them without a clear timeline or path forward. This reorganization reflects a shift towards more formal governance standards as Catalyst scales up its operations.
As a result of this transition, the future of community funding on Cardano remains uncertain, with existing funds being reallocated while new governance structures are developed. (Source)
