Input Output Cuts Funding Request in Half for Cardano Upgrades

Cardano's parent company, Input Output, has submitted a new funding request to the community treasury. This time around, the company is seeking $46.8 million, roughly half of the $97.5 million it applied for last year.

The funds will be used for various projects, primarily focused on a major consensus upgrade called Leios. This upgrade aims to increase Cardano's throughput to over 1,000 transactions per second, significantly improving the network's efficiency and scalability.

In addition to the Leios upgrade, Input Output also proposes to develop Pogun, a system designed to bring Bitcoin-based decentralized finance (DeFi) to the network. This move is expected to enhance the overall user experience and increase the adoption of Cardano as a platform for DeFi applications.