Cardano founder charles hoskinson saying that ADA’s $723 million treasury is decentralized.

Hoskinson, who is also a co-founder of Ethereum, said this in response to a tweet made by dcSpark founder Sebastian Guillemot about the Cardano treasury.

According to Guillemot, Cardano’s massive treasury allows projects like his to be built on the blockchain network without any interruption. “In fact, we have two big tool announcements in the next 1-2 weeks,” he added.

Cardano has seen significant developments in recent months as more projects are built on top of it. Guillemot’s revelation shows that the treasury could have been helping to finance these projects.

Dapps keep building on Cardano

A recent tweet from Cardano’s parent company, IOHK, confirmed that around 900 projects are currently being built on it. This is huge for a project that has been criticized by many for moving at a slow speed.

One such project is the algorithmic stablecoin, Djed, which thrown out its public testnet in May. The decentralized stablecoin was developed by COTI in collaboration with Cardano, and users are currently testing its capabilities.

Djed plans to launch its mainnet in June and will become the first stablecoin on the network.

With all these developments, many Cardano early adopters and supporters hope that it will finally prove the skeptics wrong.

The network also plans host two developer events in the next two weeks as it prepares to launch the Vasil Hardfork, which will help improve the network’s smart contract capabilities.

Hoskinson taunts Terra

Charles Hoskinson also poked fun at the Terra ecosystem after the blockchain network lost more than half of its value in recent days.

In response to an April 8 tweet from the founder of Terra make kwon where he mentioned buying $ADA for negative correlation, Hoskinson asked if he could buy some Luna for negative correlation.

Moon has lost about 90% of its all-time high value after its stablecoin, UST, unlinked. As the team fights to save the ecosystem, Hoskinson seems vindicated.

He also cited a tweet from billionaire crypto investor Mike Novogratz where the investor showed off his Luna tattoo and said he wonders “why venture capitalists and crypto media love certain alternatives and hate Cardano.”

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This post Hoskinson Says Cardano Has Decentralized Treasury Worth $723M In ADA, Teases Terra

was published first on https://cryptoslate.com/hoskinson-says-cardano-has-decentralized-treasury-valued-at-723m-in-ada-pokes-fun-at-terra/

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