Cardano Foundation Unveils $80 Million Ecosystem Fund to Boost Native Startups
Cardano Foundation Unveils $80 Million Ecosystem Fund to Boost Native Startups
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The Cardano Foundation is initiating an on-chain funding mechanism to establish an $80 million ecosystem fund. Managed by Draper Dragon, this fund will route up to $75 million from Cardano's treasury to invest in startups developing within the Cardano ecosystem, with proceeds returning to the treasury over time.
The Cardano Foundation is backing an on-chain “info action” that would route up to $75 million from Cardano’s treasury into a new, Draper Dragon-managed ecosystem fund targeting a total $80 million raise, with a mandate to invest in Cardano-native startups while sending proceeds back to the treasury over time. If approved, the vehicle, dubbed the […]