Cardano Community Approves $70 Million Grant for IOE Network Upgrades Amid Ongoing Treasury Funding Debates

Key Points

1. The grant, valued at approximately $70 million (96 million ADA), was approved with nearly 74% community support.

2. Funding will support IOE's initiatives, including upgrades to Ouroboros Leios, Hydra scalability solutions, Mithril cryptographic enhancements, Nested Transactions, and Project Acropolis.

3. The grant will be disbursed in phases, with milestone-based funding to ensure transparency and align expenditures with tangible progress.

4. Ricky Rand, General Manager at IOE, emphasized the grant as a vote of confidence in Cardano’s future and a model for decentralized funding.

5. Other ecosystem projects, such as Snek, are also seeking funding, with debates ongoing about sustainability and support mechanisms.