- This topic has 2 replies, 1 voice, and was last updated 3 months, 1 week ago by Zaytion.
- Sunday, August 21st, 2022 at 00:51 #358613WarplanTradingParticipant
Does the Cardano team have a budget? Revenue stream? How do they pay for the software development?Sunday, August 21st, 2022 at 00:51 #358614heplg
IoG raised $64M during their ICO in Japan.
Cardano foundation gave IOG $30M to finish Cardano . But Funds ran out in 2019 & Charles has been funding the competition of Cardano ever since.
He has spend over $100M of his own funds.
Charles is a billionaire. Made his money on BTC 2011.
IOG also got 2B ADA as per their contract. They are now Staking their Ada. They have public & private pools .
IOG is also a software company where they build application for Countries & Businesses. That’s where they make money.
IOG has over 200 employees working just on Cardano. Total employees are over 400 & hiring.
As for the future
IOG will be submitting a new contract to the cardano for 5 year contract . And ADA holders will be voting 🗳 on the contract.
They will probably asking for $100M+ to keep building.
Which seems lot but building a software isn’t easy.Sunday, August 21st, 2022 at 00:51 #358615Zaytion
Are you asking about IOG software development? Are you asking about the funding from Project Catalyst? Are you asking about other VC funds?
Are you asking about now? The future? The past?
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