The founder of Cardano opposes the destruction of 1.5 billion ADA tokens

2024-09-06 18:47:09

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ChainCatcher news, Cardano founder Charles Hoskinson publicly opposed the destruction of over 1.5 billion ADA tokens, valued at approximately $500 million, on the blockchain network. Hoskinson pointed out in a social media post last night that these assets are not pre-mined tokens, but rather generated through block production and transactions. He believes that destroying these assets amounts to stealing from stake pool operators (SPOs) and ADA holders.

On September 1, Cardano completed the first phase of the Chang hard fork, with some community members supporting the destruction of tokens to boost the ADA price, while others warned of potential dangers.

One of Cardano's decentralized representatives, Jaromír Tesař, believes that destroying assets would be a "terrible mistake," suggesting that these funds could be better used to support the development of Cardano.

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