Approve Cardano Foundation as New Managing Entity of Project Catalyst
On-chain changes
Informational action. No on-chain effect; the vote signals opinion only.
Abstract
The Cardano Foundation (CF), supported by Input Output Group (IOG), is requesting community approval to be appointed as the new managing entity for Project Catalyst.
This will allow for full and effective transition of Catalyst operations and responsibilities from IOG to CF in accordance with the statutes of the Catalyst Foundation Company (CFC). This transition will ensure continuity of operations and minimise delays on milestone reviews and eligible payouts for teams delivering against projects in Funds 10-14.
This approval request and Info Action is unrelated to Intersect’s role as the constitutionally mandated budget administrator for funds 14 to 16. This request is also unrelated to the already announced return to the Cardano Treasury of the previously approved allocations for Fund 15 and 16.
This Info Action will be considered approved, if greater than 50% of the active DRep voting stake votes YES upon the action's expiration.
Motivation & rationale
In February CF agreed to assume stewardship of Catalyst from IOG, with the primary goal of ensuring continuity for existing grant recipients.
CF is submitting this Info Action to request the Community’s approval for the transition of the Catalyst management role from IOG to CF, in accordance with CFC’s statutes.
CFC is a foundation company domiciled in the Cayman Islands and acts as the counterparty to all Catalyst grantees. Its company statutes require a Cardano community decision for the transfer of management of Project Catalyst to a new entity (technically referred to as an “Administrator”) to replace IOG.
CF seeks such an approval by the Cardano community so that it may fully and effectively take on Catalyst operations and responsibilities (and technically be appointed as the new Administrator of CFC). CF’s goal is to ensure that this role is filled without interruption, so that the remaining Funds 10-14 are administered as expeditiously as possible.
Without Cardano community approval of a new managing entity for Project Catalyst by the end of May, Project Catalyst operations will likely face an undetermined pause, delaying fund disbursements. While CF remains committed to collaborating with stakeholders irrespective of this Info Action’s outcome, if the CF does not assume this role in time, the continuation of Project Catalyst is uncertain at this time.
CF emphasizes that, if this Info Action is approved, it will work with Intersect to return the approved treasury allocations for Funds 15-16 to the Cardano Treasury as quickly as possible.
CF and IOG strongly believe that approving the change in managing entity for Project Catalyst from IOG to CF is the most responsible path forward to resolve legacy funding obligations and protect the Cardano Treasury. We ask that the Community support us on this path.
Rationale highlights
Why some of the largest DReps voted for and against, in their own words.
Summary Yoroi DRep votes YES on the Info Action titled “Approve Cardano Foundation as New Managing Entity of Project Catalyst.” This decision is based on the need to maintain reliable execution of ongoing Catalyst commitments. Rationale • Protecting delivery...
Summary
Yoroi DRep votes YES on the Info Action titled “Approve Cardano Foundation as New Managing Entity of Project Catalyst.” This decision is based on the need to maintain reliable execution of ongoing Catalyst commitments.Rationale
• Protecting delivery to funded teams
Active projects under Funds 10–14 rely on predictable milestone validation and payouts. Any pause or uncertainty in administration directly affects teams already building, which should be avoided.• Administrative requirement, not expansion
This action fulfills a structural requirement under Catalyst Foundation Company statutes and does not introduce new funding or broaden Catalyst’s scope. It ensures previously approved commitments can be carried through.• Clear path to avoid unnecessary delays
With no alternative ready within the required timeline, approving a capable successor reduces coordination risk and prevents operational gaps.Conclusion
Yoroi supports this proposal as a practical step to ensure that commitments already made through Catalyst are delivered in a predictable and timely manner. The priority at this stage is not to redefine Catalyst, but to ensure that ongoing work is not disrupted by administrative uncertainty. Questions around future structure, funding, and governance should be addressed separately, once continuity of current operations is secured.
I vote YES to "Approve Cardano Foundation as New Managing Entity of Project Catalyst." There is no merit in voting NO. Let's proceed with returning the Catalyst F15-16 funding to Cardano Treasury. 私は「Approve Cardano Foundation as New Managing Entity of...
I vote YES to "Approve Cardano Foundation as New Managing Entity of Project Catalyst."
There is no merit in voting NO. Let's proceed with returning the Catalyst F15-16 funding to Cardano Treasury.
私は「Approve Cardano Foundation as New Managing Entity of Project Catalyst」にYESを投票します。
これにNOを投票するメリットはありません。Catalyst F15-16の資金のCardanoトレジャリーへの返還を進めましょう。
I do not believe CF has the relevant experience to manage an ecosystem grant system. Their perspective on the primary markets for Blockchain is incompatible with years of demonstrated history and the current market reality. A PDF version of this rationale is...
I do not believe CF has the relevant experience to manage an ecosystem grant system. Their perspective on the primary markets for Blockchain is incompatible with years of demonstrated history and the current market reality.
A PDF version of this rationale is also made available.
I do not believe CF has the relevant experience to manage an ecosystem grant system. Their perspective on the primary markets for Blockchain is incompatible with years of demonstrated history and the current market reality. CF has always prioritized supply-chain tracking, decentralized identity, and web2 partnerships (FIFA, FC Barcelona, Dubai missile tracking, and so on) and indicated essentially zero interest in the DeFi market, or in marketing / assisting any of the DeFi projects building on Cardano. This is incredibly dangerous, as it ignores the current reality which is that practical all onchain activity in the blockchain space is in the DeFi market, that DeFi is the only market in the blockchain domain to achieve product market fit. CF will likely guide catalyst towards funding dead markets like web3 supply-chain tracking solutions, decentralized identity, and other non-DeFi focused funds, as opposed to focusing primarily on the existing market (DeFi) and having smaller allocations for experimental markets that have yet to achieve any success (blockchain supply-chain tracking, DIDs, and so on)
As per my previous voting rationale, I view the Cardano Foundation as a bad actor in the Cardano Ecosystem, who uses their genesis ADA to influence governance in their favor. See their previous use of genesis ADA in Catalyst Fund 13 to act as kingmaker in...
As per my previous voting rationale, I view the Cardano Foundation as a bad actor in the Cardano Ecosystem, who uses their genesis ADA to influence governance in their favor. See their previous use of genesis ADA in Catalyst Fund 13 to act as kingmaker in determining votes of most proposals.
I see the CF now managing Catalyst as a serious conflict of interest, and would rather Project Catalyst be managed as an independent entity funded by the treasury or managed by Intersect. An entity who does not have a financial incentive via genesis ADA to affect voting and the entire Catalyst process would be ideal.