Most of the top 100 tokens are red today. But despite the market uncertainty, it’s business as usual for Cardano (ADA).
Github activity data puts the number five token as the most active of all projects. Also, with the Fund4 Project Catalyst (PC) vote opening next Tuesday, ADA holders will have the opportunity to shape Cardano’s future further.
Despite fears of a price dip, Cardano continues working on its long-term ambitions.
Cardano continues leading Github activity
Data from research firm CryptoDiffer shows, over the last 30 days to June 4, Cardano was the most active crypto project on GitHub, with 436 commits. Polkadot closely followed this with 407 commits. Whereas, Ethereum ranked fifth with 271 commits.
Coincidently, this was a similar pattern observed regarding the state of staking, at the end of April, with each respective project also ranking first, second, and fifth.
What’s noteworthy is that a snapshot of data from this time last year also shows Cardano leading the pack in Github activity. Back then, Ethereum placed third, while Polkadot was not listed.
— Darren N ☘🇮🇪 (@CryptoIRELAND1) June 7, 2021
Given the flood of projects expected after Fund4 closes, it’s likely Cardano will widen its activity gap against Polkadot.
Fund4 Project Catalyst
PC refers to an experiment in community innovation to build a framework turning ideas into impactful real-world projects.
Initially launched at the end of Q3 2020, PC falls under the Voltaire governance phase of the Cardano roadmap.
“With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network,” it reads.
Its goal is to achieve high levels of community collaboration to seed the best, most popular ideas with funding through the community’s say-so. This forms the basis for a self-sustaining model for the future of Cardano.
Input Output Global (IOG) CEO Charles Hoskinson had earlier identified governance as the big differentiator between Cardano and Ethereum and why Ethereum’s long-term prospects are somewhat hazy.
“One of the big things ETH 2 has bowed out on is governance. It’s not clear how do you evolve and update the system after the founders retire or lose prominence. And the bigger these systems get, the slower they evolve, look at Bitcoin…”
Each funding round has grown in scope, engagement, and funding. Fund4 is the biggest round to date, with a million dollars available to fund development projects.
What’s more, IOG claims Fund4 offers a significantly improved voting process over the previous round, with voting now available directly in the native Daedalus wallet.
Proposals are grouped into various categories, such as value onboarding and community centers. But perhaps of most interest to the average investor, in terms of driving adoption, is dapps and integrations.
A look through this section shows ideas such as the Cardax decentralized exchange, a DeFi bridge, home and auto insurance, a lottery, and a tokenized ADA system for yield farming, to name a few. Registration is required to view PC developments.
Get an edge on the cryptoasset market
Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.
Like what you see? Subscribe for updates.