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How Cardano’s Catalyst Circle Will Improve Its Governance

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Cardano has been moving fast into full decentralization. A few months ago, its developer IOG and its community celebrated the dropped of the D-parameter below 0. This company has announced a complement to its Project Catalyst, poised to give ADA holders further control over the network, the Catalyst Circle.

Project Catalyst was launched to support initiatives that provide value to Cardano. Catalyst operates via Funds. These are used to grant participants with financial support that will help them materialize their projects.

The project is currently wrapping up its Fund 4 and is part of Cardano’s vision of self-sustainability. IOG has called it a valuable experiment to decentralized innovation.

By any metric – from numbers of votes cast, funding available, or simply participants in our innovation processes – Catalyst is emerging as an invaluable fulcrum for Cardano’s future growth.

However, IOG acknowledged that the growth of Project Catalyst can bring additional challenges for the community in terms of communications, coordination, and representation in the voting system. Thus, the Catalyst Circle will be used as a “human sensor array”.

Representatives from the different groups operating on Catalyst can discuss its ecosystem, the community’s concerns, objections, and more. The discussion would be capture in a backlog, IOG said, which can be accessed by anyone.

(…) this activity will provide a view into the hopes, wants, needs, and concerns of the community within Project Catalyst. The (Catalyst) Circle is also responsible for determining its own future shape and defining the election processes for Circle v2.

How The Cardano Community Will Have A New Link On Their Governance Model

IOG has outlined 4 main objectives to be fulfilled by the Circle: improve communications, point out when boundaries have been crossed by other groups, improve the process, and enhance the operability of Project Catalyst, define the election process for Circle V2.

IOG has designed The Circle Catalyst to be an entity capable of constant evolution. Its members will be elected every 3 months. They must uphold specific duties and responsibilities: amongst the most important it’s their duty to keep the Cardano community inform on new initiatives, changes, and introduce policy proposals in the Circle.

The first election of the Catalyst Circle’s members has been conducted. Representatives from around the globe have been elected and will consider proposals, as of now. In the future, Cardano could have not one, but many Catalyst Circle operating simultaneously.

Ultimately, it will be up to members to advance our goal to legitimise decentralized governance, paving the way for an alternative to the status quo, and continuing to break new ground in building the future of blockchain governance.

At the time of writing, ADA trades at $1,37 with small gains in the 1-hour chart and 7-day chart.

ADA slightly recovers in the daily chart. Source: ADAUSDT Tradingview

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Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO

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Cardano has announced that it has entered into a partnership with Rwanda’s Save the Children foundation. The partnership came to fruition after Cardano had successfully installed a payment gateway that allowed the NGO to receive donations using Cardano’s native currency ADA.

The statement released on the Save the Children website explained that thousands of Rwandan children would now be able to receive help through donations via cryptocurrency, which in this case is ADA.

Related Reading | Cardano (ADA) Demand Rises Amongst Retail And Institutional Investors, Why This Is Happening

Using the partnership with Cardano will enable the NGO to source funds directly from donors without having to rely on third parties or intermediaries to process the donations. In which case the charity ends up losing a good percentage of the donated funds to fees.

Not The First Rodeo With Cryptocurrency

Save the Children is not new to working with digital assets. The charity has been accepting bitcoin donations since 2013. This initiative had started in response to the Typhoon Haiyan that had struct Southeast Asia that year and had completely devastated the Philippines.

This move saw Save the Children become the first global NGO to accept donations in cryptocurrency.

ADA price currently down at $1.236 per Coin

A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin | Source: ADAUSD on TradingView.com

Save the Children had begun receiving donations in digital assets in order to provide fast and effective aid to the people affected in the area and several initiatives involving cryptocurrencies and blockchain have spun off from there. One of these is MicroWorks, a Save the Children initiative that helps refugee youths earn a living by paying them for collecting data with their mobile phones.

Cardano (ADA) is now the latest to join the line of digital assets accepted by the organization. Save the Children can now accept multiple digital assets using its cryptocurrency wallet widget.

So far, donors can donate funds in Bitcoin, Ethereum, Dogecoin, Litecoin, BAT, and a host of others.

Cardano (ADA) Donations So Far

Save the Children received over 22,000 ADA donations just hours after it announced the launch of the feature. Amounting to almost $30,000 donated through ADA alone.

The news of the partnership has so far been well-received in the Cardano community. With investors applauding Cardano’s scalability for allowing this to happen.

Related Reading | How Cardano’s Catalyst Circle Will Improve Its Governance Model

Cardano had announced earlier in the year that about half a billion dollars worth of ADA would be delegated to mission-driven stake pools on its network and this would help to fund more than 100 charities around the world. Save the Children is set to be one of the key beneficiaries of this initiative.

Speaking on the partnership, Eva Oberholzer, the Chief Growth Officer at the Cardano Foundation, said that this was only the start of an exciting partnership.

“People are often confused by cryptocurrency and baffled by blockchain. Through this pilot with the Kumwe Hub, we aim to demonstrate the power of decentralized finance (DeFi) and the global community when applied to supporting projects outside of the world of financial services and token trading.” – Eva Oberholzer.

 

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Cardano (ADA) Demand Rises Amongst Retail And Institutional Investors, Why This Is Happening

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Recently, both institutional and retail investors have shown an increasing interest in Cardano. It is fast becoming the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin of choice for investors who are in crypto for the long term. Good news trots behind the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin as Cardano released a roadmap for the Alonzo hard fork that is scheduled to take place in the second quarter of the year 2021.

Staking volumes have increased tremendously as the hard fork draws near. And so far, there has been over $31 billion worth of ADA staked ahead of the hard fork. Cardano is a proof of stake blockchain and thus requires less energy to mine than the other top coins in the market.

Related Reading | Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

The energy footprint of Cardano is negligible in this regard and thus individuals and institutions who are worried about the mining footprint that the mining of coins like bitcoin and ethereum leaves seem to find safe haven in this Coin

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» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. Cardano boasts of the highest number of staked coins, ahead of Ethereum, with over 70 percent of the entirety of ADA supply currently staked.

Institutional Investment In Cardano

Cardano has so far drawn in over $24 million in institutional investments. Data shows that Cardano investment funds have attracted more investment funds than most other digital assets in the crypto space. With Bitcoin and Ethereum leading the charge of where institutional investors choose to empty their pockets.

The interest in the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin from institutional investors comes with the rising popularity of Cardano amongst retail investors. The project’s Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin which is named ADA is currently ranked as the number 5 Coin

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» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin in the crypto space.

Grayscale, a known leader of crypto investors, announced earlier that they had included Cardano in their crypto trusts. The Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin became the investment’s firm third-largest crypto holding. Making up about 4.26 percent of their entire crypto holdings.

ADA price trading at $1.30 | Source: ADAUSD on TradingView.com

The Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin has a current circulating supply of 32 billion and a 24-hour daily trading volume of $1.2 million. The price of ADA currently sits at $1.30 per Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin.

The relatively low price of the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin has been one of the driving factors of interest in the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin so far. The Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin which trades for a little over a dollar shows tremendous purpose and if speculations are right, then Cardano would see investors getting returns in the thousands once the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin takes off.

The continuous work being done on the Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin shows the commitment of the team to the project. The efforts of the team have been enough to impress Ethereum founder Vitalik Buterin, who commended the project for the interesting ideas that are being implemented.

ADA Beats Out Bitcoin To Be Most Held Crypto On eToro

Popular crypto exchange earlier in the month released stats that showed that Cardano’s Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin ADA has become the most held Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin on the cryptocurrency exchange. Beating out bitcoin and ethereum to claim the top spot on the exchange.

This showed a 51 percent increase in the amount of ADA being held on the exchange by users. Pushing top Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin bitcoin from first place to second place.

Related Reading | How Cardano’s Catalyst Circle Will Improve Its Governance Model

This increase was attributed to the increased growth and use case potential for Cardano’s Coin

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» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin ADA, and this had clearly provided plenty of attraction and motivation for investors to move into the project.

A lot of this is attributed to investors searching for the next bitcoin. This search has led to more interest in smaller and cheaper coins like ADA where the investors see a lot of potential and what could possibly be the next Coin

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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin to replicate bitcoin’s success in the market.

Featured image from Investing.com, chart from TradingView.com

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Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

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Grayscale has just added Cardano to its Digital Large Cap Fund. The top asset management firm announced its quarterly rebalancing that brought up Cardano to be the third-largest holdings of the company.

Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA.

— Grayscale (@Grayscale) July 2, 2021

Cardano Is The Third Largest Crypto In Grayscale Digital Large Cap Fund

According to Grayscale, there was a little adjustment to accommodate Cardano into the portfolio. Grayscale sold some of the components to buy ADA. Before buying Cardano, Grayscale also made the same adjustment in April to buy Chainlink (LINK).

By this recent action, the asset management firm has caused the price of Cardano (ADA) to gain by at least 1.09% following the announcement. Also, crypto now occupies the third position in the funds after Bitcoin and Ethereum.

Cardano (ADA) noticed several positive developments in recent times, and it seems that the trend is continuing. After its network upgrade, the token price rose impressively.

While the community is still awed by that, Grayscale has taken another huge step to push the token further towards the positive trend.

Related Reading | TA: Why Ethereum (ETH) Key Indicators Suggest Fresh Drop Below $2K

The fund management company made this ground-breaking announcement on Twitter. From what the team tweeted, their main aim is to expose the clients to at least 70% of all the crypto in the market.

So, this is why they’ve concentrated on adding the best and top crypto to their multi-billion portfolio. According to what Grayscale Finance Vice President Edward McGee said, the firm is excited about the addition.

He further stated that they want all their clients to access top digital currencies via regulated product offerings that they can relate with like others. Now, ADA makes up 4.26% of the Fund’s digital assets.

Grayscale crypto asset portfolio allocation by percentage | Source: Grayscale on Twitter

A Brief On Grayscale Quarterly Review

The asset management firm has always maintained a tradition of reviewing all the assets in its portfolio every quarter of the year.

Such action is to ensure that they present their clients with the best opportunities to invest their capital. In this quarterly review, the firm’s target is Cardano, and it sold off some firm’s components to purchase the crypto.

The community is also waiting for the next quarterly review, which will take place in September. Speculation is high as to which digital asset the firm will choose to add to its portfolio.

How Will The Announcement Affect Cardano (ADA)?

In reaction to the announcement, Cardano’s founder Charles Hoskinson retweeted the announcement to show everyone in the crypto community.

This is indeed a groundbreaking achievement for the Cardano team and community. Given that Grayscale is a regulated and reliable digital asset management firm, it’s obvious that ADA will gain more credence in the crypto market.

Related Reading | New Litecoin All-Time Highs Are Still In The Cards

Now that the token appears side by side with Bitcoin and Ethereum, it will record more investments and huge demand will follow. The demand will cause the price to soar higher than others in growth.

Cardano steps in the green-zone after a terrible week | Source: ADAUSD on TradingView.com

The announcement of Grayscale adding Cardano to its portfolio is expected to shoot ADA to the moon. The price of ADA is rising gradually, thanks to Grayscale.

Featured image from Coinrot, chart from TradingView.com

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