Chang Fork is about to give the Cardano community a $681 million treasury.
The Cardano community is set to manage a $681 million treasury, making it one of the largest in the cryptocurrency market.
This move comes with the much-anticipated Chang Fork, which marks the beginning of the “Voltaire era.”
The Cardano community controls a treasury worth over $681 million. According to TapTools data, this is the eighth largest treasury in the industry.
TapTools shared a screenshot showing that Cardano's treasury only includes ADA tokens. This is different from peer-to-peer protocols on the blockchain, which feature stablecoins and other cryptocurrencies such as Bitcoin and Ethereum.
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Cardano's treasury, supported by transaction fees and block rewards, supports ecosystem development, ensuring sustainability. The project roadmap features a three-layered governance structure: Cardano Foundation, Input Output Global (IOG), formerly IOHK, and EMURGO. These entities manage development, research and commercial activities respectively.
The treasury's delivery coincides with the upcoming Chang Fork, a major upgrade that will transition Cardano into a fully decentralized blockchain ecosystem. Cardano founder Charles Hoskinson described this as the most important milestone in the history of the network and the industry.
“It's the most important milestone in Cardano's history and for the industry as a whole. Cardano will be a decentralized civilization of millions of inhabitants worldwide. “We will have a very advanced blockchain management system, an annual budget, a treasury and the wisdom of our entire community to guide us,” Hoskinson said.
Read more: Cardano (ADA) Price Prediction 2024/2025/2030
The Chang's fork completes Cardano's multi-year program of transferring control of the blockchain to the community. Voting and treasury systems will be implemented, allowing ADA holders to submit and vote on amendments. With the upcoming updates, Cardano will achieve self-sufficiency and empower network participants, giving them administrative authority over the current staking and delegation process.
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