cardano catalyst 7

Last Chance: Jan. 6 Deadline For Cardano Catalyst 7 Registration

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For Cardano hodlers, the biggest news today isn’t the ongoing crypto crash annoying plateau we didn’t swing our way out of, it’s tomorrow’s deadline to register for the latest Catalyst event:

Some time ago, we explained the Cardano Catalyst program to you, but the TL;DR is simply this: Project Catalyst is a sort of crowd-sourced initiative expo for the Cardano network.

Through Catalyst, ADA holders are empowered to make recommendations about – and cast votes for – the future direction of the network itself.

This democratization is one of the core tenets of Cardano, and it’s one of the truly unique and exciting ways in which Cardano achieves true decentralization.

Remember, not all cryptocurrencies are functionally decentralized.

Bitcoin is controlled largely by a handful of massive global data centers, Dogecoin is controlled by Elon Musk’s occasional ennui, and so on.

Other platforms, meanwhile, may be legitimately decentralized on a technical level but still very much centralized around a single inaccessible developer or elite thinktank.

However, through Cardano’s unique ADA staking model and the Catalyst program, no other platform rivals the level to which ADA has embraced the “crypto anarchy” concept. Just remember, “no ruler” doesn’t mean “no direction.” Cardano gets its direction through Catalyst.

That said, Catalyst definitely isn’t a free-for-all.

If you’d like to participate in Catalyst voting – and thus earn free ADA rewards for doing so – you’ll have to meet a few minimum requirements.

First and foremost, you’ll need to have at least 500 ADA coins. Second and aftmost, you’ll need to delegate those ADA coins from within a Catalyst-compatible Cardano wallet (i.e. Daedalus or Yoroi).

Once you’ve done that, you’re good to go.

Afterwards, all you need to do is register by following the links in the tweet above (which must be done before 6:00 AM EST on Thursday, January 6, 2022).

For new ADA holders or those interested in buying more Cardano, you can currently procure the necessary 500 ADA for about US$615.

The sole caveat is that if you’ve never used an online crypto exchange before (i.e. Coinbase Pro, Bittrex, Binance US, eToro, etc.), you may have to wait several days before you’ll be able to move your ADA into a private Catalyst-ready ADA wallet.

Still, because the ADA price is currently so low, it’s a great time to get in even if you won’t be able to participate in Catalyst this time around. And this way, you’ll be ready for next time.

Cardano Catalyst voting begins on January 13 (6:00 AM EST) and runs through January 27 (6:00 AM EST). Cardano rewards will be distributed at an as-yet-unannounced future date.

In other Cardano news, this. Also, this:

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