Cardano has launched its first live on-chain inter-blockchain communication (IBC) connection with layer-1 blockchain Injective on a testnet, enabling users to send ADA to Injective and move INJ back to Cardano. The Cardano Foundation and Injective called it the start of a new era of interoperability but said it remains experimental. The setup supports only Cardano Preprod and the Injective testnet using valueless test tokens.

Cardano can deploy more than $100 million for ecosystem development this year despite its drop in market-cap rankings, founder Charles Hoskinson said. He said the network’s on-chain treasury continues to generate funds needed for long-term growth. Spending could cover software development, infrastructure upgrades, research, developer tools and education programs. Hoskinson said more than 30 to 40 companies have received support, reducing reliance on Input Output Global.