Cardano has offered $4 million worth of $ADA up for grabs through its global project catalyst program known as Fund6. Creators of dApps and smart contracts will have up to three months to build award-winning projects on the Cardano blockchain, after which they can be rewarded in ADA tokens. Winners will be announced in November 2021.
The program was announced by the Input-Output Global software development company, which is behind Cardano’s blockchain solutions. The company said this is the biggest and most ambitious fund launched so far in terms of the amounts of ADA to be shared in funding the projects. A total of $2 million was distributed in the Fund5 program.
Anyone willing to build a project that addresses real-world challenges is now free to register and or submit a proposal for funding in Fund6 through Cardano’s IdeaScale from 19 August 2021 to 9 September 2021, after which, the projects will then be voted on by the community for funding.
The program appears to be in line with the upcoming launch of smart contracts on the ADA blockchain. Cardano announced yesterday that it’s likely to release smart contracts on the platform around September 12, and this pushed the price of ADA to over $2 yesterday for the first time. It is historic.