Cardano Founder Addresses Governance Concerns Over Foundation's Role

According to Odaily, Charles Hoskinson, the founder of Cardano, has addressed concerns regarding the governance structure of the Cardano Foundation. Hoskinson emphasized the Foundation's commitment to decentralization principles and community oversight. He clarified that the Foundation operates independently from the ecosystem's other major stakeholders, IOHK (Input Output Global) and Emurgo. However, he expressed concerns that the Foundation's $600 million ADA treasury does not directly represent the community's interests. Hoskinson criticized the Foundation's lack of enthusiasm for funding projects like Catalyst, suggesting this could hinder the ecosystem's growth. He warned that this approach might pose sustainability challenges for the ecosystem, especially as key contributors like IOHK work without adequate incentives. Cardano supporter Rick McCracken raised questions about IOHK's transparency, leadership decisions, and the overall direction of the ecosystem, advocating for changes in governance. In response, Hoskinson acknowledged some issues within IOHK, such as the need for layoffs during bear markets, but affirmed the organization's ongoing focus on ecosystem development.