Cardano Community Weary of Grifters, Hoskinson Reacts

Cardano founder Charles Hoskinson has taken to X (formerly Twitter) to address critics who believe some community members are exploiting the project. In a succinct response, Hoskinson asked the critics if every researcher and developer in Cardano were to work for free.

So every researcher and developer in cardano should work for free?

— Charles Hoskinson (@IOHK_Charles) June 18, 2024

Hoskinson’s response stemmed from criticisms from several Cardano community members, who expressed concern about the project’s current state. Many claimed that opportunistic individuals exist within the Cardano community and requested a change of approach that could improve the project’s trajectory.

Echoing this sentiment, a Cardano community member identified as King Alex on X voiced his support for a proposal to burn the 1.5 billion ADA treasury. According to Alex, burning the entire treasury would halt the issuance of ADA tokens to “Cardano exploiters” occupying prominent seats in the project’s governance system.

Alex believes that burning the treasury would instantly impact ADA’s price, potentially causing a surge that would propel the Cardano ecosystem’s token to $10. He encouraged other community members to buy into his idea, noting it would reflect support for ADA and not the current system that suggests supporting the Cardano grifters.

It is worth noting that Alex’s post garnered support from other Cardano community members who believe the treasury funds have been misallocated to a group of large wallet owners who rarely contribute to the project’s development. One prominent respondent told Hoskinson that he did not object to compensating those contributing to the network’s development.

However, he criticized the current process, noting that he had yet to see the top projects in the network receive funding from the treasury.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source