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Input Output Hong Kong (IOHK), Cardano’s parent company, has announced that its Project Catalyst Fund9 would be released on June 1, 2022.

Fund8 has ended, and Fund9 will begin soon

The Fund8 round has already completed, and the winners have been announced. With $16 million in ADA awards promised to the initiative, IOHK hopes to get at least 1,000 concepts during the Fund9 round. The goal is to increase user participation while also beginning substantial upgrades to the Cardano network. With the purpose of strengthening the Cardano network, Project Catalyst was first developed to bridge the gap between the founding IOHK corporation and the burgeoning Cardano community.

The Cardano Community makes a contribution

The community is crucial in providing answers to network difficulties as well as posing new challenges to strengthen the network’s problem-solving and crisis-management capabilities. Funding for new ideas is allocated democratically, with the entire community voting to choose the most deserving initiatives. According to IOHK’s recent report, the Cardano network has 925 projects in development. Since then, 18 additional projects have joined the network, bringing the total number of projects on the network to 943. On the Cardano network, 85 projects have been built and deployed.

Vasil HFC is planning a network upgrade

After the disastrous market-wide meltdown, ADA sank to a low of $0.39, but it now appears to be gaining pace. Over the previous week, the token has recovered 3.53 percent of its value. The forthcoming rollout of the Vasil Hard Fork, which is expected to offer substantial enhancements to Cardano’s smart contract platform, has piqued the interest of community members and experts. The node, ledger, and consensus teams are all trying to achieve the deadlines, according to the updates. They want to complete the closed public testnet phase by the end of May and debut Vasil on the Cardano testnet in early June in order to meet the June 29 mainnet launch schedule.

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