Alpha Growth has started Cardano PRIME, a year-long effort to expand decentralized finance activity on the Cardano blockchain. The initiative uses 120 million ADA from the Cardano treasury, worth approximately $19.2 million when approved, to fund protocol grants, liquidity incentives and money market integrations. The plan targets raising total value locked from current levels to $290 million.
Governance voting in August approved the program with 73 percent support. Current DeFi deposits on Cardano sit at $54.77 million according to DefiLlama, below the $90 million baseline mentioned in the proposal. The program includes conditional fund releases and ties performance fees to verified growth over 24 months.
Read the full story on BSC News: Cardano PRIME Program Allocates 120M ADA to Raise DEFI TVL Above $200 Million
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