Addressing Concerns: The Cardano Foundation Responds
The Cardano Foundation has recently taken steps to address growing concerns and criticism surrounding its role within the blockchain network’s ecosystem.
Internal Strife and Criticism
In recent weeks, the Foundation has come under fire for alleged internal conflicts and accusations of sidelining key contributors, including Cardano’s founder, Charles Hoskinson.
Involvement in Catalyst Fund 13
Questions also arose regarding the Foundation’s participation in Catalyst Fund 13, where it acted as a Delegated Representative (DRep) with a substantial stake of 180 million ADA tokens.
Cardano Foundation’s Commitment to Project Catalyst
The Foundation has reaffirmed its active involvement in Project Catalyst since 2021, highlighting its dedication to promoting decentralization, governance, and sustainability within the network.
Voting Decisions and Priorities
For Funds 12 and 13, the Foundation has clarified that its voting decisions were guided by a focus on supporting projects aligned with the principles of long-term sustainability, decentralization, and governance for Cardano.
Challenges in Voter Participation
Despite its significant ADA stake, the Foundation noted challenges in achieving high levels of voter engagement within Catalyst. Only a fraction of the total circulating supply of ADA was registered to vote, highlighting the need for improved transparency and criteria in the voting process.
Relationship with Hoskinson and the Cardano Constitution
The Foundation also addressed concerns regarding its relationship with Input Output Global (IOG) and its stance on the Cardano Constitution.
Support for Long-Term Success
While acknowledging IOG’s contributions under Hoskinson’s leadership, the Foundation reiterated its support for the Cardano Constitution and broader ecosystem goals, emphasizing the shared vision for the network’s long-term success.
Conclusion
Despite challenges and criticisms, the Cardano Foundation remains committed to fostering a transparent and inclusive governance model within the Cardano ecosystem, with a focus on sustainability and decentralization.
