Cardano (ADA) allegedly plans to transfer control of its $681.9 million treasury to the community, according to reports. Unlike many other blockchain protocols, Cardano’s treasury is comprised solely of its native ADA tokens. A recent data snapshot from cryptocurrency tracker TapTools shows that the treasury currently holds $681.9 million worth of ADA tokens.
Currently, Cardano operates under a three-tier governance structure, with the Cardano Foundation overseeing platform development and promotion, Input Output Global (IOG) managing research and development, and EMURGO focusing on commercial initiatives.
It is claimed that the upcoming “Chang” hard fork will facilitate complete decentralization of Cardano, allowing the ADA community to take over network management. Cardano founder Charles Hoskinson has confirmed that the final phase of ‘Voltaire’, the community management era, is underway. Despite concerns about the token’s price stagnation, Hoskinson remains optimistic about the blockchain’s health.
As of now, Cardano ranks as the 10th largest altcoin globally. This information is not intended as investment advice. For those interested in investing in over 300 cryptocurrencies, a 20% commission discount is available for registration with Binance exchange. Stay updated on exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
