Cardano Developer Seeks Reduced Funding for Expansion and DeFi Integration

The company behind the Cardano blockchain, Input Output, is seeking a reduced amount of funding from the project's treasury, marking a shift towards self-sustainability. The nine proposals, totaling $46.8 million, focus on enhancing the network's scalability and exploring Bitcoin-based decentralized finance opportunities. This move is part of a broader plan to decrease dependence on community funds and enable smaller engineering teams to take on more development work. The proposals include a consensus upgrade called Leios, aimed at increasing transaction processing capacity, and a system called Pogun, designed to facilitate Bitcoin-based lending on the Cardano network. The voting process, which opens on Tuesday and runs through May 24, will be overseen by roughly 1,000 elected delegates and will determine the fate of the proposed funding.