All ADA stakers who managed to register will be able to vote in Catalyst Fund10 from August 31, 2023. Each Governance phase in Catalyst is a test of readiness for decentralized governance and important feedback regarding people's interest in this form of decision-making.
LAll ready for the Governance phase
The Community Review and Moderation phases are over. On August 18, a snapshot was taken to calculate the voting power of all registered voters in Catalyst Fund10.
If you are not sure if you have registered correctly, you can use this tool to verify.
Let us remind you that anyone who had at least 500 ADA (excluding staking rewards) in their wallet at the time of the snapshot can participate in the voting.
The governance phase, i.e. voting on which project will receive funding, will begin on August 31, 2023.
Proposers can now share their projects on social networks and gain the favour of voters. Voters still have time to decide which project to support with the power of their ADA coins.
Once this phase is over, rewards will be distributed to all voters. Those who failed to re-register, which was a necessary condition for receiving the reward, can still vote, but without the right to the reward.
Once the governance phase is over and the rewards are distributed, the final Archive phase will take place.
What will Fund10 be like?
The interest of projects in obtaining funding from Catalyst, as well as the interest of voters, gradually increased.
In Fund9, 1174 ideas were proposed and 354K votes were cast. There are 1472 ideas (in 13 challenges) in Fund10. Whether the number of cast votes will be exceeded remains to be seen.
On the one hand, there is a bear market. On the other hand, the activity of the Cardano community is definitely not slowing down, and the enthusiasm for building decentralized technologies is still palpable.
The success of the Cardano project rests in the hands of ADA holders. It is important to note that decisions are made to fund projects from the Cardano treasury. The community should choose those projects that have the greatest chance of having a positive impact on the Cardano ecosystem for a reasonable budget. This is definitely not an easy choice.
I recommend all voters go through more suggestions and comments from reviewers. It might be a good idea to vote in an area that you yourself understand well.
Voting ends on September 14, 2023. Voting will be anonymous. Voting power is dependent on the number of ADA coins that voters had in their wallets at the time of the snapshot. At this point, it doesn't make sense to buy more ADA coins for more voting power. The results will be published once the voting is over.
50M ADA has been reserved for Fund10. Let's hope that the best projects get funding.