According to a November 13 statement shared with CryptoSlate, the Cardano Foundation released its first financial insights report, revealing total assets of $478.24 million as of December 31, 2023.
Of its reported assets, the Foundation holds 82.7% in ADA, 10.1% in Bitcoin, and the remainder in USD liquidity. Considering the recent market rally, the foundation's Bitcoin holdings are worth an estimated $103.7 million.
Cardano Foundation CEO Frederik Gregaard said the report is a testament to Cardano's open source philosophy. He emphasized that transparency is at the core of the Foundation's mission and is not just a concept, but a fundamental principle that the Foundation fully embraces.
The Cardano Foundation plans to release its 2024 activity report in the first quarter of 2025. This report provides a comprehensive overview of the Foundation's efforts and achievements over the past year.
expenses
The report outlines that the foundation has allocated approximately $19.22 million to three key areas: operational resiliency, education, and implementation. An additional $4.55 million supported central operating costs to strengthen the Foundation's capacity and advance important initiatives.
In the area of ​​operational resiliency, the Foundation spent $2.12 million to harden Cardano's infrastructure, positioning Cardano as a trusted component of institutional-level operations. This investment has enabled the Cardano network to achieve over 2,000 consecutive days of uninterrupted operations.
Additional achievements include the launch of block producers, sophisticated stake pool delegation, continuous network monitoring, and more.
The foundation has allocated $4.18 million to its educational efforts. These funds supported blockchain discussions, research, regulatory clarity, and educational events to inform and engage diverse stakeholders on the fundamentals and potential of blockchain technology.
However, the largest portion of expenses, totaling $12.92 million, was spent on promoting Cardano adoption. This funding facilitated the development of use cases that demonstrate Cardano's versatility. We also contributed to community tools such as Identity Wallet and Ledger Sync to improve user experience and utility.
revenue
The staking rewards earned by delegating ADA serve as the Foundation's main source of income. In 2023, the Foundation's 668.8 million ADA holdings generated a total of 20.9 million ADA in staking rewards, representing a return of 3.1%.
According to its delegation strategy, the Cardano Foundation prioritizes delegation to stake pools that benefit the blockchain network ecosystem rather than maximizing financial returns.
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