Cardano developer Input Output slashes community funding request to $46.8M

Input Output (IO), the core developer behind Cardano, has significantly reduced its funding request from the community treasury compared to last year, CoinDesk reported. According to a proposal submitted by the company, IO is requesting $46.8 million for its operations this year, roughly half of the $97.5 million it sought previously. IO stated that it plans to decrease the amount of funding requested from the community each year until it can operate solely on its own revenue.