Cardano founder: The foundation has no connection with IOHK or Emurgo, and its lack of enthusiasm for funding projects such as Catalyst may hinder the development of the ecosystem

Cardano founder Charles Hoskinson has responded to concerns about issues with the governance structure of the Cardano Foundation (CF). Charles Hoskinson has been keen to defend the Cardano Foundation’s commitment to the principles of decentralization, especially community oversight of the Foundation. He noted that the Foundation has no affiliation with IOHK (Input Output Global) or Emurgo, two other major stakeholders in the ecosystem. But he said that the use of the Cardano Foundation’s $600 million ADA treasury is not directly representative of the community. In his view, the Foundation’s lack of enthusiasm for funding projects such as Catalyst could hinder the development of the ecosystem. Hoskinson also pointed out that this approach could lead to future problems with the sustainability of the ecosystem, especially considering that major contributors like IOHK are working without proper incentives. Cardano supporter Rick McCracken raised some questions about IOHK’s transparency, raised questions about leadership decisions and the overall direction of the ecosystem, and advocated for a change in governance. Hoskinson responded to McCracken’s statement by saying that IOHK did have some issues, such as the need to lay off employees during the bear market, but the organization has always been focused on ecosystem development.