Phase 2 of the Ambassador Program enabled operationalizing of ada (₳) payments and prompting partial move of ada holdings

ZUG, 11 MAY 2020. The Cardano Foundation is privileged to inform our community that we will be transferring portions of our ada (₳) holdings from the existing wallet address to one or more new wallets. The move is prompted by the rollout of the rewards scheme of our marquee Cardano Ambassador Program, known as Phase 2 (Rewards), announced last month.

The Cardano Foundation will now be able to efficiently carry out daily transactional ada operations from its new wallets thanks to partial asset reallocation and employment of new addresses.

Streamlining payments denominated in our native token – ada, named after Ada Lovelace, the world’s first computer programmer and a British mathematical visionary, is a result of new crypto storage solutions.

Our team is pleased to see months of operational preparations result in enhancement of our financial and accounting systems. Employment of new wallets will make ada-denominated transactions, such as wiring of Ambassador rewards, speedy and more cost-effective.

The Cardano Foundation’s efforts will also facilitate diversification of its payments by enabling non-fiat transactions.