Cardano’s Biggest Players Unite Behind 70M ADA Push to Spark On-Chain Growth
Cardano's core teams approved a 70 million ADA treasury withdrawal to fund crucial infrastructure integrations for ecosystem growth.Summary
The Cardano network's main development teams have executed a coordinated 70 million ADA treasury withdrawal to fund long-delayed infrastructure integrations aimed at boosting on-chain growth. This proposal, backed by major players like Input Output, the Cardano Foundation, and EMURGO, passed quickly with over 60% support in a governance vote. The funds will target the development of stablecoins, credible oracle feeds, cross-chain bridges, custody integrations, and analytics tooling. Developers have long argued that the lack of these primitives has capped DeFi activity and hindered the network's ability to compete with rivals. Charles Hoskinson stated this move sets aside differences to address fundamental challenges impeding growth. Intersect will administer the funds, focusing on accelerating delivery rather than further research, with early targets including major stablecoin issuers and a cross-chain bridge provider. The success of this unified push now hinges on execution and whether it can translate into the desired liquidity and application growth.
(Source：CoinDesk)