Cardano Dev Acquires 686,567 ADA for Historic Treasury Move

One of the biggest Cardano (ADA) contributors known for his work in the ecosystem, Sebastien Guillemot, recently revealed a significant donation made by his development crew, dcSpark. The donation, worth $460,000 ADA tokens, represents a $400,000 loan, alongside $60,000 in accumulated interest.

The developer stated that the donation process took longer than expected, primarily due to waiting for the official implementation of the treasury donation feature on the Cardano blockchain. To maintain fairness, interest was calculated month-by-month at a 6% APR over the entire holding period.

What is amusing is that as Guillemot is a builder, and dcSpark are builders too; they presented a new version of the Cardano Rust SDK that includes support for the newly added treasury donation functionality, expanding the toolkit available to developers building on Cardano - exactly what they were missing to make this on-chain donation to the treasury.

The most interesting part is, of course, by how much these tokens were bought, and Guillemot revealed that information too

The acquisition was executed just a few days ago, with ADA purchased at an average price of $0.67. The simple calculations say that the developer and company donated around 686,567 ADA.

Since then, the price of the Cardano token experienced a significant sell-off, alongside the broader cryptocurrency market, and is now trading at $0.5231. For Guillemot, however, the positive impact of acquiring ADA and the benefit of increasing the treasury reserve remains, despite the volatility of the price.

According to Cexplorer, Cardano Treasury now contains over 1.72 billion ADA, which in currency prices is equivalent to $927,08 million.