Cardano founder responds to foundation governance controversy: The foundation has no direct connection with IOHK and Emurgo

ChainCatcher news, Cardano founder Charles Hoskinson responded to the controversy regarding the governance structure of the Cardano Foundation (CF), emphasizing the importance of decentralization principles and community oversight. The controversy originated from well-known Cardano community figure Rick McCracken's questioning of the foundation's leadership and transparency, arguing that there is a lack of effective community oversight.

Charles Hoskinson pointed out that the foundation has no direct ties to IOHK and Emurgo. The use of the Cardano Foundation's $600 million ADA treasury does not directly represent the community. In his view, the foundation's lack of enthusiasm for funding projects like Catalyst could hinder the development of the ecosystem. This approach may lead to future sustainability issues for the ecosystem, especially considering that major contributors like IOHK work without proper incentives.

Charles Hoskinson's response to McCracken's statements was that these comments were quite "offensive" and "disappointing." He noted that IOHK does face some challenges, such as needing to lay off staff during a bear market, but remains focused on the ecosystem.