🔥CARDANO PROPOSES A BUDGET OF 275 MILLION ADA – COMMUNITY IN A FRENZY! ❗💰
A proposal worth 275 million ADA (estimated at about 225 million USD) was introduced on May 12, shaking the Cardano community! However, this plan has not yet been approved – it requires consensus from the decentralized governance system, including DRep members and the Civics Intersect Committee (ICC).
Objective: To promote the Cardano ecosystem's robust development
According to the Cardano Foundation, this budget will be allocated to:
Enhancing the underlying protocol
Encouraging and supporting developers
All aimed at advancing Cardano into the next phase of Web3.
Controversy erupts within the community ⚠️
Some members argue that this is a necessary step for the ecosystem's growth.
On the contrary, some individuals, including a prominent ADA whale, express concerns that large-scale spending from the treasury could negatively impact the value of ADA in the long run.
No announcement about unlocking tokens 🔐
As of now, there is still no information on the issuance of new ADA, which somewhat reassures investors closely monitoring the supply.
One of the largest treasury expenditures ever!
This amount makes the proposal one of the largest treasury spending plans in Cardano's history — and thus, attracts global attention.
Disclaimer: This article is for informational purposes only.
