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A new, critically important vote has been launched on the Cardano blockchain. The community is being asked to approve the withdrawal of 50 million ADA tokens from the treasury. This is the first tranche within the large-scale Orion Fund initiative, created jointly with venture giant Draper Dragon.
What can be said about the main proposal? First, its goal is to create a shared venture fund worth $80 million to support startups, develop the ecosystem and accelerate projects on Cardano. Second, the voting period runs until April 15 of this year.
And finally, unlike ordinary grants, Orion Fund operates as a professional venture fund, so the returns from investment will be directed back into the Cardano Treasury, aiming to make the fund self-sustaining.
Where will 50 million ADA go?
The Orion Fund, managed by Draper Dragon, focuses on three key directions:
- Direct investments account for $50 million to support promising projects from the acceleration stage to Series A rounds.
- Another $11.5 million is allocated for growth capital, marketing, exchange listings, liquidity provision and technical mentorship through its own venture studio.
- Finally, $6 million is set aside for education and talent, including Hacker House programs and accelerators in Silicon Valley to prepare new founders in real-world assets and institutional DeFi.
The partnership with Draper Dragon, founded by the legendary Tim Draper, opens Cardano’s access to global institutional networks and asset management expertise.
The fund is expected to help increase the network’s total value locked from current levels of under half a billion dollars to three billion and above. Importantly, Cardano (ADA) is one of the very few major layer-1 networks that has never had TVL above $1 billion.
U.Today Editorial Team
Dan Burgin
