The Cardano blockchain community has authorized a $70 million development grant to Input Output Engineering (IOE), equivalent to 96 million ADA tokens, with 74% of participating voters endorsing the proposal. This funding targets critical protocol enhancements including the Ouroboros Leios scaling solution, Hydra layer-2 infrastructure, and Mithril cross-chain interoperability.
The milestone-based deployment framework ensures rigorous oversight and transparent allocation of resources. These upgrades aim to accelerate Cardano’s technical capabilities, specifically boosting network scalability, developer tooling, and cross-chain functionality to improve ecosystem competitiveness.
Market reaction appears positive as ADA prices reflected renewed investor confidence. After dipping to $0.62, the token rebounded to trade at $0.735. Current technical analysis shows ADA testing resistance at the 50-day EMA ($0.7240), with sustained momentum potentially enabling a push toward $0.79 in the near term.