Cardano Developer Input Output Cuts Community Budget Request by Half to $46.8 Million
Summary
- Input Output, the developer behind Cardano (ADA), said it set next year's community-funded budget at $46.8 million, down about 50%% from a year earlier.
- Input Output said it plans to gradually reduce its reliance on community funding and, over the long term, sustain operations through its own revenue.
- The proposed Leios upgrade, the centerpiece of the budget plan, could expand Cardano's throughput by 10 to 65 times from current levels.
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Input Output, the developer behind Cardano's ADA token, has nearly halved the budget it plans to seek from the community for next year from a year earlier.
CoinDesk reported on April 22 that the company submitted nine proposals on April 21 totaling $46.8 million for next year's budget. That compares with $97.5 million last year, marking a cut of about 50%.
Input Output described the reduction as a first step toward gradually lowering its reliance on community funding. The company plans to reduce the amount it asks the community for each year and eventually sustain operations through its own revenue.
The key proposal in the package is Leios, a major upgrade aimed at sharply increasing Cardano's processing speed. Input Output said the upgrade could lift Cardano's throughput by 10 to 65 times from current levels. It is due to be implemented by the end of this year.
About 1,000 governance delegates, or DReps, will take part in the vote on the budget proposals. Voting began on April 22 and will run for about a month through May 24.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
