IOHK, which supports the development of Cardano (ADA), announced 11 winning proposals for funding as part of Project Catalyst

IOHK (or Input Output Hong Kong), an organization that focuses on supporting open source projects such as Cardano (ADA), a major platform for building decentralized applications (dApps), has announced the first winning entries for Project Catalyst.

The community has spoken and 11 initiatives are expected to receive funding to further improve the Cardano ecosystem.

As explained by IOHK, Project Catalyst is “an ongoing experiment” that examines or examines how “decentralized” innovation and collaboration can be carried out “at the highest level”. As the first phase of the Voltaire roadmap, the ecosystem participants will be asked to “pool their ingenuity, creativity and passion to identify groundbreaking projects that will support Cardano’s growth,” according to the IOHK team.

Fund2 reportedly marked the first time Project Catalyst attendees had the opportunity to discuss, refine, and vote on various proposals using “real” ADA, the native cryptocurrency for Cardano’s Distributed Ledger Technology (DLT) network. As confirmed by IOHK, this was aimed at “improving and adding new value to Cardano”.

As mentioned in a blog post published by IOHK:

“We asked Fund2 attendees to find ways to encourage the development of the Cardano ecosystem over the next six months. With an available initial ADA fund worth $ 250,000, we can fund 11 proposals. “

The IOHK team confirmed the following funded proposals as part of Fund2:

Upgrade of the PoolTool platform: This project aims to “open up opportunities for building companies and applications on Cardano that differentiate between operators of investment pools by offering additional products”. This update aims to promote the “diversity” of the infrastructure throughout the Cardano ecosystem.

Ouroboros about RINA: Provision of a PoC stake pool (Proof of Concept) and a relay solution from Ouroboros via RINA using “Ethernet / WDM at two locations in Tokyo, Japan”.

Haskell / Plutus / Marlowe training: Development of teaching material or content that aims to convey complex ideas and information in a structured manner, “supplemented by examples that inspire ideas”. This proposal aims to “make life easier for new developers and entrepreneurs”.

Create a standard for signing messages: “Generating a standard for signing messages to prove reserves, identity and delegation of the operational pool. “

Liquidation: Cardano Loan Markets for Decentralized Financing, or DeFi: Developing an open source liquidity protocol without a custodian to “earn interest on deposits and borrow assets on Cardano”.

Cardano for mobile (decentralized application) dApp developers: “With mobile SDKs, Mobile First DApp experience and App Store compatibility, mobile platforms are becoming first-class citizens of the DApp world.”

GimbaLabs – Starter Kits and Tools: GimbaLabs is a startup platform that “provides free and open source APIs, lessons and project-based learning resources to help people bring their ideas to life on Cardano and thus increase adoption of the Advancing blockchain. “

Lovelace Academy for Marlowe and Plutus: Establishment of an online academy “to attract, inspire and train individuals and companies to create applications on Cardano’s Smart Contract and Native Assets platform”.

Characters Tx Arduino: Start a library for code that is written in the C programming language and is “compatible with the Arduino development environment”. Sign local Cardano transactions before smart contracts are “available to enable Internet of Things (IoT) applications”.

Pet Registry DApp with ₳ Pay: Assisting developers in accepting ADA payments on websites. The ₳ Pay-based Pet Registry DApp will “serve a global audience cheaper and better”. Developers are “inspired by successful apps and the tools required to build those apps. By creating both, we can inspire and accelerate developers and their solutions. “

Japan Cardano Governance Association: Meetings & Communities & Podcasts: “Support online / offline meetups, governance podcasts, etc. for our Japanese community.”

As confirmed by IOHK, each funded team will receive their ADA tokens by the end of this month so they can start their projects and hopefully bring them to life in the foreseeable future. IOHK also mentioned that they are now looking forward to seeing the impact of these initiatives on the developing Cardano ecosystem.

While 11 ideas or projects have been funded for the time being, there are several other legitimate candidates who have managed to reach the voting threshold of the community. However, these initiatives have still not received funding this time. As noted by IOHK, certain projects were able to secure “community funding”. There were also some initiatives that had been approved by the community for funding. For the time being, however, the state treasury did not have sufficient financial resources to support their proposals.

IOHK added:

“We will encourage these applicants to resubmit their ideas for the newly launched Fund3 where relevant (with a focus on the DApp ecosystem) and we hope the best of them will be community funded next time. We have bold and ambitious plans for Project Catalyst in 2021, with millions of dollars worth of ADA being made available to fund innovation on Cardano. Submission of proposals for Fund3 [reportedly opened on January 13, 2021]. ”