Launching Catalyst Fund14: Gathering Ideas, Honouring Governance, and Powering Forward
Ready for the next round of start up innovation on Cardano? Catch up on the latest via this Fund14 introduction blog post from @Kriss_Baird , Catalyst’s General Manager, on what’s next. Here it goes:
"We’re now at an important time for Cardano, as DReps start to vote on the Treasury Withdrawal Actions that will fund the continuing growth of our ecosystem. As many of you will know, Project Catalyst is one of the projects now seeking final DRep approval to release the treasury funding so we can continue to build on all our work over the past 5 years and keep driving innovation for Cardano. While we’re still awaiting the final green light on funding approval, we don’t want to lose any momentum.
So we’re announcing today that Catalyst Fund14 will officially launch on July 23rd, 2025 with a live online launch event at 3PM UTC, featuring special keynote speaker guests for which you can register here. And open for proposal submissions starting July 24th, 2025 (note: or days following depending on deployment readiness - to be confirmed), ahead of the final approval of the Treasury Withdrawal Governance Action.
We know there’s a lot of enthusiasm and anticipation in the community, and we want to encourage everyone to start preparing and submitting their proposals. Rest assured, we will only move forward with full implementation once everything is formally approved. But we’re eager to lay the groundwork in the meantime!
This proactive step allows us to continue to build on the strength of the Cardano startup and builder ecosystem, harnessing community creativity and maintaining momentum, ensuring no further delays in supporting innovative projects that contribute positively to our ecosystem.
Fund14 Important Points:
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Proposal Submission Only: Initially, Fund14 will solely collect proposal ideas from the community at this stage. No proposal reviews, assessments, voting, or governance decisions will occur until the Treasury Withdrawal Governance Action is approved by DReps.
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Maintaining Momentum: Launching the submission phase early avoids prolonged standstill and ensures that Cardano community members can continue developing and refining their innovative concepts without delay.
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Governance Integrity: Catalyst’s governance and funding distribution depend entirely on the successful passing of the Treasury Withdrawal Governance Action. We respect the DReps’ critical role and will only proceed to subsequent phases (review, voting, and distribution of funds) upon their approval.
Next Steps:
- Encourage Participation: We invite all builders, innovators, and community members to start submitting their proposals from July 24th. This is your opportunity to shape the future of the Cardano ecosystem.
- Await Governance Approval: Once DReps finalize their voting and achieve the required threshold, Catalyst will promptly move forward with the Fund14 Community Review and Voting phases.
Catalyst has always been about empowering the community to shape Cardano’s future – and that spirit continues stronger than ever in Fund14. Thank you to every DRep for all the support to date and let’s make Fund14 the most ambitious, inclusive, and impactful round yet!
Want to learn more? Check out our pre-launch town hall where we talk more on all things Fund14. Follow this link. Or check out our F14 Launch Guide to get an early preview. Where else to stay in touch? Don’t forget to follow Catalyst on X to keep an eye on all the latest."
1. Why launch F14 Proposal Submissions before the DRep vote?
Catalyst has come a long way in five years. With nearly 2,100 funded projects and over 290 million ADA allocated through community governance, we’ve built a mature, battle-tested process that’s helped power one of the most vibrant ecosystems in Web3.
That maturity brings with it a responsibility: to keep delivering value, without compromising on trust or transparency.
Opening the Fund14 proposal submission stage now - and only the submission stage - allows the community to begin crafting, refining, and sharing innovative ideas without losing momentum. It’s about getting ready, not rushing ahead. When the DReps complete their vote on whether to fund Catalyst for 2025, we want to be ready to roll.
So we will respectfully await the DReps’ critical role and in the meantime, Catalyst is preparing responsibly for its outcome.
2. What’s actually launching?
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Proposal submission opens July 24 (or subsequent soonest available date) on the new Catalyst platform -
No reviews until Cardano DRep approval -
No voting until Cardano DRep approval
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No funding decisions until Cardano DRep approval
You can think of this a time to shape bold solutions, form teams, and submit transformative proposals that can accelerate Cardano’s global impact. But none of these proposals will advance to review or funding unless - and until - the DRep budget vote supports the Catalyst roadmap.
3. Anticipating your questions (and concerns)
We know that some in the community will have fair and important questions. Here’s what you might be wondering - and how we’re thinking about it:
“How can Catalyst launch anything before DReps vote?”
Catalyst isn’t new. We’ve been delivering ecosystem funding rounds professionally since 2020, earning trust through transparency and measurable impact. What’s launching now is a non-binding, preparatory phase acting as a way to save time and reduce friction should DReps give the green light. In short: we’re preparing, not presuming.
“If you’re so ready, why not submit your own Treasury proposal instead of going through Intersect?”
Catalyst is proud to be part of a broader community effort to shape transparent, decentralized budgeting and governance. That’s why we’ve collaborated closely with Intersect and other ecosystem actors during this first-of-its-kind treasury process.
While we continue operating as a mature team with ongoing 2025 plans it is delivering, we also respect and uphold the governance structures we’re part of. By working within this new process, we’re contributing to the shared learning that will help make future treasury cycles more efficient and responsive.
Every organization, committee member, and DRep involved has faced (and helped tackle) the growing pains of building something truly decentralized. Catalyst will continue to work constructively with the appointed administrator and support the process, while following its roadmap to deliver maximum value to the Cardano community.
“What if DReps say no?”
Then we’ll face that reality transparently. If DReps vote against the Catalyst budget proposal, which includes three funding rounds of 20M ADA each, the retroactive funding pilot, and continued Catalyst platform development, it would mark a major turning point.
In that case:
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Catalyst would pause all new funding rounds until an alternative proposal is approved.
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The development of the Catalyst platform would stall, including key upgrades like:
- A more intuitive overall experience and voting enhancements
- Enabling support for regional and rapid funding rounds
- Integration of the retroactive funding model
And it would leave thousands of voters, reviewers, moderators, and contributors in limbo, waiting for a new budget and new direction. So this would not just pause Catalyst, it would pause momentum across much of the community-led growth of the Cardano ecosystem.
We believe in the strength and purpose of Catalyst. We trust that DReps and the wider community see the same value and share our ambition for a thriving innovation engine. But if the decision is “not now,” then Catalyst will pause until a new proposal is approved.
4. What comes next?
We’re opening the doors to ideas, but we’re not stepping through them yet.
The community now has a valuable opportunity: to shape proposals that matter, to collaborate, and to show the world what’s possible when funding meets imagination. When DReps make their decision, Catalyst will be ready—either to accelerate forward or respectfully pause.
Let’s use this moment to lean into our shared values: transparency, readiness, and belief in the power of decentralized innovation.
5. Your Turn
The path ahead is one we walk together. So bring your ideas. Build your proposals. Collaborate with peers. Fund14 submission opens July 24 or few days following. Stay tuned for announcements.
And to our DReps: we thank you for the responsibility you’ve taken on, and the discernment you bring to this process. The Catalyst team stands ready to serve the Cardano community, now and into the future.
Let’s build together. United in innovation.
But innovation starts now
