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▲ Cardano (ADA)
The Cardano (Cardano, ADA) community has finally approved the creation of the Orion Fund, worth 50 million ADA, 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 passed a proposal to withdraw 50 million ADA from the Cardano treasury to be used as the initial capital for the fund to revitalize 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.
Founder Hoskinson evaluated that Draper Dragon's expertise would greatly benefit the Cardano ecosystem. He emphasized on social media that collaboration with proven investment firms like Draper Dragon would increase the network's credibility and attract more institutional capital. Hoskinson added that the community's choice is an example of the excellence of decentralized decision-making that Cardano pursues.
The Orion Fund plans to intensively foster projects that align with the latest technology trends, especially artificial intelligence and real-world asset tokenization. Draper Dragon will leverage its global network to support projects through the entire process, from technical validation to market entry. This is a strategy that goes beyond simple funding, helping Cardano-based applications gain competitiveness in the global market.
Cardano has secured stable funding to support ecosystem development through the creation of this fund. Community-led funding 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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