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Cardano’s Chang Fork Hands $681 Million Treasury to Community

2 mins
Updated by Daria Krasnova
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In Brief

  • Cardano community will take control of the 8th biggest treasury in the crypto industry.
  • The network is approaching its Chang Fork, the most significant milestone in Cardano history.
  • Cardano network upgrades are part of its journey towards a self-sustaining system.
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The Cardano community is set to take control of a $681 million treasury, making it one of the largest in the cryptocurrency market.

This move comes with the highly anticipated Chang Fork, marking the beginning of the “Age of Voltaire.”

Cardano Community To Receive $681 Million Treasury

The Cardano community will gain control of a treasury worth more than $681 million. This is the eighth largest treasury in the industry, according to TapTools’ data.

TapTools shared a screenshot showing that Cardano’s treasury comprises ADA tokens only. This is different from its peer protocols on the blockchain, which feature stablecoins and other cryptocurrencies like Bitcoin and Ethereum.

Read more: How To Buy Cardano (ADA) and Everything You Need To Know

Blockchain Protocols and Their Treasuries
Blockchain Protocols and Their Treasuries. Source: TapTools

Cardano’s treasury, funded by transaction fees and block rewards, will support ecosystem development, ensuring sustainability. The project’s roadmap features a three-layered governance structure: the Cardano Foundation, Input Output Global (IOG), formerly IOHK, and EMURGO. These entities oversee development, research, and commercial endeavors, respectively.

The treasury handover coincides with the upcoming Chang Fork, a major upgrade that will transition Cardano to a fully decentralized blockchain ecosystem. Cardano founder Charles Hoskinson described this as the most significant milestone in both the network’s and the industry’s history.

“It’s the most significant milestone in the history of Cardano and for the industry as a whole. Cardano will be a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us,” Hoskinson said.

Read more: Cardano (ADA) Price Prediction 2024/2025/2030

The Chang Fork will complete Cardano’s multiyear program, transferring blockchain control to its community. Voting and treasury systems will become operational, allowing ADA holders to propose and vote on improvements. With upcoming upgrades, Cardano aims to achieve self-sustainability and empower its network participants, giving them governance authority through the existing staking and delegation process.

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Lockridge Okoth
Lockridge Okoth is a journalist at BeInCrypto, focusing on prominent industry companies such as Coinbase, Binance, and Tether. He covers a wide range of topics, including regulatory developments in decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), real-world assets (RWA), GameFi, and cryptocurrencies. Previously, Lockridge conducted market analysis and technical assessments of digital assets, including Bitcoin and altcoins such as Arbitrum, Polkadot, and...
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