Voting Registration for Cardano’s Project Catalyst Almost Ends: What This Means for The Cardano Community
The largest initiative for the Cardano community prepares to create a voting system for its sixth generation of projects. This will see community members and holders of native cryptocurrency, ADA identify and select their most preferred DApps in the blockchain’s ecosystem. However, there are only a few hours left until the end of the referendum, Cardano announced in an October 4 tweet.
Cardano also announced the last call for voters of the project. The blockchain has entitled the initiative Project Catalyst and winners will be chosen in about four hours from the time of this writing. Cardano is also giving room for community members and ADA holders to share their thoughts on what they think about the several projects that will be piloted on the blockchain as well as select the winners.
Cardano Community Members to Use ADA as Governance Token
Cardano stated that proponents of the blockchain will have access to the voting committee by booking their spots there. It is after this that they can register their votes using ADA tokens as stakes to endorse their choicest Cardano-powered projects. According to Cardano community activists, participating in the referendum for Project Catalyst is a great opportunity for Cardano or enthusiasts with varying levels of blockchain knowledge.
However, the requirements for participating in the referendum seem too steep. Users who intend to participate in Cardano’s Project Catalyst need to have 500 ADA or $1,120 which will represent their stakes.
Project Catalyst Facilitates Launch of Several DApps
Cardano’s Project Catalyst is an unrivalled decentralized incubator program or launchpad for novel decentralized applications which are keen on using Cardano’s newly launched smart contracts. Project Catalyst set sail on Stealth, an end-to-end privacy solution between July and September in 2020.
Since its launch, Project Catalyst has absorbed and bankrolled several decentralized applications. Interestingly, this sixth edition seems to hold more benefits for the new DApps because of Cardano’s recent smart contract integration such that winners of the edition will be able to interact with the smart contracts.
Cardano’s smart contract functionality took off earlier last month, bringing a long and bated wait to an end. Although ADA failed to register any price increase on account of the launch, the smart contract integration was a thing to be excited about. Input Output Global’s (IOG) CEO Charles Hoskinson did not fail to express his excitement at the successful launch given that he has fought hard to defend Cardano against its strong critics
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