Cardano community approves $71M treasury spend for network upgrades

Prior to the proposal passing, Cardano's Technical Steering Committee submitted a competing bid and users expressed concern about transparency and accountability.

Cardano’s core development team received approval to be paid 96 million ADA from the treasury to forge ahead with proposed upgrades to the network.

Input Output Global (IOG) — Cardano’s main development team — submitted the proposal for the equivalent of $71 million in Cardano (ADA), which passed with 74% in favor, representing 200 votes, with six against and seven abstaining, according to the governance action.

The 12-month development plan focuses on improving scalability, the developer experience and interoperability.

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