As reported by IOHK, Project Catalyst Fund 9 is expected to start on June 1, according to the team’s announcement at the Catalyst Town Hall. This comes after a successful Fund8, the winners of which have already been announced.
The upcoming Project Catalyst Fund9 expects more than 1,000 proposals to be submitted, with $16 million worth of ADA already earmarked for grants and ecosystem awards. Project Catalyst is a collaborative effort between the Cardano community and Cardano’s parent company, IOHK, to stimulate the growth of the Cardano network.
The community offers challenges to a range of Cardano-related projects during each funding round. The community then responds to these concerns by presenting plans that define concrete solutions. The community votes on the proposals and chooses which ones will be funded.
In its weekly development update, IOHK shared statistics about the network’s development on a chart. Currently, there are 943 projects being built on Cardano, up from 925 previously. A total of 85 projects have been launched on Cardano recently, while the number of NFT projects has increased to 5,656. For the week, Github added a total of 3,132, while Cardano’s native token stood at 4.8 million. Also, the number of Plutus scripts was 2,714.
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The Vasil hard fork, which took place on June 29, is expected to bring significant improvements to Cardano and its smart contract platform, Plutus. A suggested road map is provided by IOHK ahead of the Vasil hard fork event. The end of May is scheduled for the closed public testnet phase, while Vasil is expected to launch on the Cardano testnet in early June. Also, the deadline for the mainnet hard fork proposal has been set as June 29.
IOHK said in its latest weekly development report that the node, ledger and consensus team are continuing to prepare for the Vasil hard fork.
Cardano price action
As the crypto market experienced a sell-off, Cardano fell to a low of $0.39 last week. Cardano is currently consolidating while attempting a rally.
According to CoinMarketCap data, Cardano is trading at $0.52 with a drop of 2.35% over the past 24 hours. The crypto asset is up 3.53% in the past week.
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