Cardano Hard Fork Approaching - $681 Million Could Be Distributed To The Community

The Cardano (ADA) community is on the verge of inheriting approximately $681 million worth of ADA tokens thanks to the upcoming “Chang” hard fork.

Cardano has one of the world's largest cryptocurrency treasuries. When combined with other digital assets, these assets are managed by the community members themselves. This move highlighted by TapTools , a cryptocurrency tracker, aims to ensure that the Cardano protocol is fully governed by its holders.

This demonstrates how decentralized and community-based governance continues to be a core focus of Cardano. After implementing this update to Chang, community members can submit their project ideas for consideration and voting for Treasury funding according to TapTools data. Unlike other protocols that manage multiple cryptocurrencies in their coffers, Cardano's only holds ADA.

Blockchains mostly deploy their treasuries to support their ecosystems; Cardano also follows this trend. This acts as an indication of how much activity is happening in Cardano, which is taken as a sign that there are active participants who believe in developing the ecosystem.

To guide its way, Cardano has a three-layer governance structure. The Cardano Foundation is responsible for overseeing the development and promotion of the platform, Input Output Global (IOG) handles research and development, while EMURGO manages the commercial ventures.

Charles Hoskinson, founder of Cardano, recently informed the community about the implementation of "Voltaire", which will herald the era of community governance.