So, the Cardano community just gave a big thumbs-up 👍 to throwing over 96 million ADA—worth about $70 million—at Input Output Engineering (IOE), their beloved dev team. Because nothing says “progress” like shoveling crypto into a black hole of upgrades. Right?
This decision came after an August 2 vote where nearly 74% of voters said, “Sure, why not?” Which begs the question: did they even read the fine print? Or was it one of those “agree to terms and conditions” moments?
Big Bucks for Bigger Dreams 💸
Apparently, this cash dump is supposed to power IOE’s roadmap, which includes buzzwords like scalability improvements, better developer tools, and cross-chain capabilities. Sounds fancy, doesn’t it? Like someone got drunk on blockchain jargon at happy hour.
The plan includes upgrades to things like Ouroboros Leios, Hydra (no relation to Marvel villains), Mithril enhancements, Nested Transactions, and something mysteriously called Project Acropolis. I don’t know what half of these are, but if they make Cardano faster, smarter, and less confusing, then sure—count me in!
Ricky Rand, IOE’s General Manager, called this approval a “vote of confidence.” Confidence in what, exactly? That developers won’t accidentally break everything while trying to fix it? He also admitted the real challenge will be delivering results without screwing up—a bold statement from someone whose job title probably requires carrying around a stress ball.
“This is a vote of confidence in Cardano’s future – and a model for how decentralized funding and delivery can work at scale. The real work begins now,” Rand declared.
Translation: We’re gonna spend your money really carefully… probably. Oh, and don’t worry—they’re doling out the funds in stages, tied to milestones. Intersect, some random-sounding group, will oversee things because apparently, we needed another acronym in our lives.
And hey, IOE promises transparency with monthly updates, engineering timesheets, and quarterly budget reports. So you can watch them burn through millions of dollars in real-time. Exciting stuff!
More Projects Want Your Money Too 🙄
Meanwhile, Tim Harrison, EVP of Community & Ecosystem at Input Output, reminded everyone that there are still plenty of other projects begging for ADA handouts. One example? Snek, a memecoin project seeking 5 million ADA to list itself on exchanges like Hyperliquid. Yes, folks, because nothing screams innovation like yet another memecoin.
“There are still a host of worthy projects looking to get across the line, with your support. So DReps – please keep voting,” Harrison pleaded.
Charles Hoskinson, Cardano’s founder, chimed in with his two cents, suggesting Snek restructure its request as a bond instead. Apparently, he thinks repaying the treasury over three years is more sustainable than just handing over free money. Who knew?
But here’s the kicker: Hoskinson insists treasury funds shouldn’t pay for listing fees—even for high-profile projects like Midnight. Guess we’ll have to wait until Snek figures out how to bribe exchanges on its own dime. Good luck with that!
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2025-08-03 17:22