The Cardano Foundation has addressed growing concerns and criticisms regarding its role in the ecosystem of this blockchain network.
In recent weeks, the Foundation has received no small amount of criticism due to internal conflicts and allegations of sidelining key contributors, including Cardano's founder, Charles Hoskinson.
Charles Hoskinson – Founder of Cardano
Concerns have also arisen regarding the role of Catalyst Fund 13, where the Foundation participates as an Authorized Representative (DRep) with 180 million ADA tokens.
In response, the Foundation quickly clarified its position by posting an article on its official blog, while also publishing a detailed section of Frequently Asked Questions (FAQ) on the Cardano forum on December 16, to address all community inquiries.
Cardano Foundation and Project Catalyst
The Foundation has reaffirmed its active participation in Project Catalyst since 2021, emphasizing its commitment to promoting decentralization, governance, and sustainability across the network.
For Funds 12 and 13, the Foundation explains that voting decisions focus on supporting projects that align with these priorities.
With our vote, we want to focus on topics related to long-term sustainability, decentralization, and governance for Cardano. These principles are clearly reflected in the projects we have chosen to support.
The Foundation has highlighted significant challenges in promoting voting participation, particularly the low level of participation in Catalyst. Despite a total of 35 billion ADA in circulation, only 4.8 billion ADA are registered to vote, and many participants do not actively vote for all proposals. The 180 million ADA held by the Foundation accounts for approximately 3.75% of the registered voting power but only represents 0.5% of the total ADA supply in circulation.
The Foundation is committed to enhancing transparency in future voting rounds, while promising to apply clearer and more accurate criteria for the voting process and ADA allocation. The organization also encourages other major stakeholders to implement similar practices to ensure that decision-making is carried out fairly and balanced.
Additionally, the Foundation plans to publish a technical blog explaining its voting process using community tools.
Addressing the relationship with Hoskinson and the Cardano Constitution
The Foundation has also responded to concerns about its connection with Input Output Global (IOG) and its stance on the Cardano Constitution.
While acknowledging the contributions of IOG under Hoskinson's leadership, the Foundation emphasizes its unwavering support for the Constitution and broader ecosystem goals.
The dedication and vision of IOG, along with Charles Hoskinson's commitment to Cardano, are why many of us choose to accompany this project. Although we may sometimes feel frustrated with some of their actions or decisions, when we consider the complexities of building a successful and sustainable platform for Cardano, we can understand that differences in perspective and approach are inevitable.
This response comes as Hoskinson recently questioned the Foundation's alignment with the vision of Cardano. The founder of the blockchain network has also raised concerns about the activities of the Foundation, including the approval of the network's budget.
However, the Foundation clarified that any budget decisions will also be for long-term goals and the specific content of Cardano.
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