• Charles Hoskinson criticized the lack of community representation in decisions about the $600 million ADA treasury and expressed concerns about the Cardano Foundation’s limited support.
  • Community figure Rick McCracken questioned IOHK’s transparency and leadership, citing negative Glassdoor reviews.

Charles Hoskinson, the founder of Cardano blockchain, has once again voiced his opinion on the ongoing discussions regarding the governance structure of the Cardano Foundation, as reported by CNF. His comments come following a heated debate in the Cardano community after public remarks by Rick McCracken, a well-known figure in the ecosystem.

McCracken has raised concerns regarding the leadership practices at the Cardano Foundation and organizational transparency. This has led to widespread discussions regarding the role of community oversight as well as the future of Cardano’s governance structure.

Charles Hoskinson On Cardano Foundation Oversight

Cardano founder Charles Hoskinson has been keen on emphasizing the foundation’s dedication to decentralization, underscoring the importance of community oversight in its operations. He also clarified that the Foundation operates independently and has no affiliation with IOHK (Input Output Global) or Emurgo, the other two key entities within the Cardano ecosystem. He said:

This isn’t a Charles versus CF debate… This is a discussion on the issue of whether the community foundation should be answerable to the community.

Hoskinson further noted that the Cardano Foundation’s $600 million ADA treasury lacks direct community representation in its allocation decisions. He expressed concern that the Foundation’s limited support for grants and funding initiatives, such as Project Catalyst, could stifle ecosystem growth.

However, Hoskinson stated that this strategy could put the ecosystem’s long-term sustainability at risk, particularly if major contributors like IOHK continue to operate without adequate incentives.

Rick McCracken Questions IOHK Transparency

Prominent Cardano supporter Rick McCracken shared concerns over IOHK’s lack of transparency, adding that the Glassdoor reviews are proof of it. While questioning the decision-making in the leadership, McCracken raised doubt over the broader strategic direction of the ecosystem, calling for changes in governance.

However, Charles Hoskinson called his remarks “distasteful” and “disappointing.” While acknowledging past challenges at IOHK, including workforce reductions during bear markets, Hoskinson said that the organization has consistently prioritized the growth and stability of the Cardano ecosystem.

I’m sorry that your ego got hurt, Rick; you are not doing any good to the community with your actions,

As reported by CNF, Hoskinson also highlighted the efforts of lightweight wallet Lace, developed by IOHK, stating that it will be a powerhouse for ecosystem growth in 2025.

Charles Hoskinson recently shared updates on Cardano’s governance advancements, emphasizing strides made since the governance workstream was introduced during the Age of Voltaire conference in late 2022. This effort has led to the development of CIP-1694, detailing processes for decentralized governance and a draft of the Cardano Constitution.

The proposed governance framework seeks to conclude Cardano’s technical bootstrapping phase, establishing a decentralized decision-making structure that empowers the community to play a larger role in shaping the ecosystem.

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