Cardano to hand over control of $681 million in treasury funds to community

Odaily News After the Cardano Chang fork upgrade, the community will gain control of treasury funds worth more than $681 million, which is the eighth largest treasury in the crypto field according to TapTools data. Cardanos funds are funded by transaction fees and block rewards, and will support the development of the ecosystem and ensure sustainability. The projects roadmap adopts a three-tier governance structure: the Cardano Foundation, Input Output Global (IOG) (formerly IOHK), and EMURGO. These entities are responsible for overseeing development, research, and commercial activities, respectively. The handover of funds coincides with the upcoming Chang fork, a major upgrade that will enable Cardano to transition to a fully decentralized blockchain ecosystem. It is reported that the Cardano Chang fork upgrade is expected to be completed in June. (beincrypto)