Overview
- Input Output, EMURGO, the Cardano Foundation, Intersect, and the Midnight Foundation jointly submitted an on‑chain Treasury request for 70 million ADA.
- Intersect was named program administrator for the initiative and said its governing board fully backs the plan.
- Funding would prioritize five pillars: tier‑one stablecoins, institutional custody and wallets, advanced on‑chain analytics, cross‑chain bridges, and globally recognized price oracles.
- Distribution of funds requires approvals by Delegated Representatives and the Constitutional Committee, with voting reported to run through December 30.
- The filing followed a brief chain partition tied to a crafted delegation transaction linked to a 2022 testnet library bug, which prompted renewed calls for coordination across core entities.