Cardano (ADA) Proposes $46.8M Treasury Funding for Scaling and Bitcoin DeFi Integration

Input Output Global (IOG), the core developer behind the Cardano blockchain, has submitted a revised funding proposal to the Cardano Treasury. The request seeks 1.25 billion ADA, valued at approximately $46.8 million, to advance two critical development areas: scaling solutions and Bitcoin DeFi integration. This amount is notably lower than initially considered figures, reflecting a strategic and focused approach to resource allocation. The scaling initiative aims to enhance Cardano's network capacity and transaction throughput. Concurrently, the Bitcoin DeFi project, known as "Sidechains for Bitcoin," focuses on building a bridge to connect the Cardano and Bitcoin ecosystems, potentially unlocking Bitcoin's liquidity for use in decentralized finance applications on Cardano. The final decision on the proposal rests with the Cardano community, which will vote on the treasury fund allocation through its on-chain governance system.