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▲ Cardano (ADA)
The Cardano (ADA) community has finally approved the creation of the 50 million ADA Orion Fund to expand its ecosystem.
According to a report by The Crypto Basic on April 9 (local time), Charles Hoskinson, founder of Cardano, expressed strong support for this decision. The fund focuses on discovering promising projects within the Cardano ecosystem and providing initial funding.
This decision was made through Cardano's governance voting system. Community members approved a proposal to withdraw 50 million ADA from the Cardano treasury to be used as initial capital for the fund to vitalize the ecosystem. The fund will be managed by Draper Dragon, a prominent Silicon Valley venture capital firm. Draper Dragon is an institution with extensive investment experience in blockchain and technological innovation.
Hoskinson praised Draper Dragon's expertise, stating that it would greatly benefit the Cardano ecosystem. He emphasized on social media that collaboration with proven investment firms like Draper Dragon would enhance the network's credibility and attract more institutional capital. Hoskinson added that the community's choice demonstrates the excellence of decentralized decision-making that Cardano aims for.
The Orion Fund plans to intensively nurture projects that align with the latest technology trends, especially artificial intelligence and real-world asset tokenization. Draper Dragon will utilize its global network to support projects through all stages, from technical verification to market entry. This is a strategy that goes beyond mere financial support, helping Cardano-based applications secure competitiveness in the global market.
Through the establishment of this fund, Cardano has secured stable funding to support ecosystem development. Community-led capital injection acts as a driving force for network growth. Draper Dragon plans to support the global market entry of projects discovered through the Orion Fund.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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