KEY TAKEAWAYS
- The Cardano Foundation has released its first Financial Insights Report, highlighting its commitment to transparency and community engagement.
- In 2023, the Foundation allocated $19.22 million to operational resilience, education, and adoption, with an additional $4.55 million for operational costs.
- As of the end of 2023, the Foundation’s assets totaled $478.24 million, primarily held in ADA, with significant portions in BTC and USD liquidity.
- The report emphasizes the Foundation’s dedication to advancing Cardano as a public digital utility through strategic financial management.
[Zug, Switzerland, November 13, 2024] – The Cardano Foundation, a Swiss-based not-for-profit organization, has launched its inaugural Financial Insights Report. This report marks a significant milestone in the Foundation’s commitment to transparency and community engagement.
The Financial Insights Report complements the Activity Report published earlier this year. It provides detailed insights into how the Foundation allocated its funds and the impact made across its core focus areas: operational resilience, education, and adoption.
Frederik Gregaard, CEO of the Cardano Foundation, stated, “This report represents a natural evolution of our open-source philosophy, where transparency is not merely a concept but a core principle we wholeheartedly embrace.” The report underscores the Foundation’s dedication to accountability and resource allocation to advance Cardano as a public digital utility.
Financial Overview and Asset Allocation
In 2023, the Cardano Foundation allocated $19.22 million across its three focus areas, with an additional $4.55 million dedicated to central operational costs. This financial strategy reflects the Foundation’s commitment to building a robust and sustainable ecosystem.
As of December 31, 2023, the Foundation’s assets totaled $478.24 million, with 82.5% held in ADA, 10.1% in BTC, and the remainder in USD liquidity. These assets are utilized to fund activities aligned with the Foundation’s mission and statutory purpose.
Focus Areas: Operational Resilience, Education, and Adoption
The Foundation’s efforts in operational resilience received $2.12 million, aimed at enhancing Cardano’s infrastructure for institutional-grade use cases. This includes improving the blockchain’s resilience, reliability, and understanding of associated opportunities and risks.
Education initiatives were allocated $4.18 million to promote discussion, support research, and explain blockchain concepts to diverse stakeholders. The Foundation continued its work to provide reliable information for regulatory clarity and encourage enterprise adoption.
Adoption efforts received $12.92 million to drive the use of Cardano by businesses and organizations. This funding supports the development of use cases and tools to leverage Cardano’s utility, contributing to the ecosystem’s longevity.
The Cardano Foundation plans to publish its next Activity Report for 2024 in the first quarter of 2025, offering further insights into its initiatives and accomplishments.
For more details, the full Financial Insights Report can be accessed here.
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