{"id":"ada-cardano","title":"ADA (Cardano)","content":"**ADA (₳)** is the [Cardano](https://iq.wiki/wiki/cardano-ada) network’s native token. It was named after 19th-century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. The ADA token is a [digital currency](https://iq.wiki/wiki/cryptocurrency) and is also used to perform transactions on the [Cardano](https://iq.wiki/wiki/cardano-ada) network. [\\[1\\]](#cite-id-442ok4wfmi7)​\n\n### Overview\n\nThe ADA token can be used for [staking](https://iq.wiki/wiki/staking) on the [Cardano](https://iq.wiki/wiki/cardano-ada) platform to help verify transactions. Staking rewards users with more ADA [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) and the [Proof of Stake](https://iq.wiki/wiki/proof-of-stake) (PoS) system helps maintain the network's security. ADA can also be used to facilitate [smart contracts](https://iq.wiki/wiki/smart-contract) and run applications on the [Cardano](https://iq.wiki/wiki/cardano-ada) network. [\\[2\\]](#cite-id-49seeyhora6)​[\\[3\\]](#cite-id-q1xbqr3tfek)​\n\nADA token holders who stake their ADA tokens will be able to participate in on-chain governance and vote on development proposals. [\\[5\\]](#cite-id-am1g9l31pp)​\n\n### Distribution\n\nThe initial token launch for Cardano (ADA) was on the 29th of September, 2017.\n\n57.6% of the total ADA supply was distributed to investors in an [Initial Coin Offering](https://iq.wiki/wiki/initial-coin-offering) (ICO), in which Cardano raised $62.2 million. 11.50% was allocated to the Team (IOHK, EMURGO, and Cardano Foundation) and 30.90% to Staking Rewards. [\\[2\\]](#cite-id-49seeyhora6)​\n\n![](https://ipfs.everipedia.org/ipfs/QmVame9x2MkBA4b9qc9j9BRE2wE31ZHwRpLRiF2SK88oTS)\n\n## Staking ADA\n\nValidators - also known as pool operators - charge a commission fee for running staking pools. Delegators receive staking rewards in proportion to the amount staked.\n\nEvery 5 days, the protocol automatically allocates and compounds staking income. Users are able to delegate to any staking pool without a lock-up period, and can freely move their stake. Rewards can be withdrawn without an unbounding period, though there is a latency period of 15-20 days before the initial stake begins to earn rewards. [\\[5\\]](#cite-id-am1g9l31pp)​\n\n[YOUTUBE@VID](IQK2h0xXIWw)","summary":"ADA (₳) is a digital currency used to perform transactions on the Cardano network. 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