- Cardano founder Charles Hoskinson defended Input Output Global’s (IOG) ADA holdings, emphasizing that they were earned through building the blockchain ecosystem, not given as public funding.
- He clarified that while IOG earned its holdings, the Cardano Foundation received ADA as a donation to support the network’s growth.
Charles Hoskinson, the founder of Cardano, recently took to X (formerly Twitter) to defend Input Output Global (IOG), the blockchain research and engineering company behind the Cardano network. Addressing criticisms about IOG’s ADA holdings and the network’s adoption efforts, Hoskinson offered clarity on the origins and purpose of the holdings.
“We Earned It” – Hoskinson’s Clarification
In his post, Hoskinson refuted claims suggesting that IOG’s ADA holdings were a form of public funding or gratuitous allocation. He emphasized that no ADA was ever “given” to IOG, but rather, it was earned through the team’s commitment to developing Cardano.
“The original value of IOG’s ADA holdings was about $8 million in 2015,” Hoskinson revealed. This significant investment, coupled with nearly a decade of consistent ecosystem-building efforts, underscores the team’s dedication to advancing Cardano as a leading blockchain platform.
Understanding the Cardano Ecosystem
Hoskinson further distinguished IOG’s position from that of the Cardano Foundation (CF), another entity integral to the ecosystem. Unlike IOG, which earned its ADA holdings, the CF received its allocation as a donation. This donation comes with clear obligations: to use the ADA for the benefit of the Cardano ecosystem.
This distinction sheds light on the differing roles of IOG and the CF. While IOG functions as an innovative driver of technology and adoption, the CF operates as a steward, ensuring resources are utilized to foster community and network growth.
Nine Years of Progress
IOG’s journey to establish Cardano as a formidable player in the blockchain space has been a long one. Starting in 2015, the company has navigated the complexities of blockchain development, from creating a robust proof-of-stake protocol to driving network scalability and security advancements. These efforts have culminated in Cardano becoming one of the most actively developed blockchain platforms today.
The Bottom Line
Hoskinson’s statement serves as a reminder of the significant effort and investment that goes into creating a sustainable blockchain ecosystem. IOG’s ADA holdings are not mere “gifts” but rather the result of years of hard work and strategic innovation. As Cardano continues to evolve, its foundation of earned success underscores the legitimacy of its mission and the credibility of its team.
