Hoskinson Blames Treasury Decisions for ADA's Missed Opportunities
Cardano (ADA) founder Charles Hoskinson believes that treasury funding decisions have hindered ADA's growth, citing rejected proposals as key missed opportunities.
Hoskinson pointed to Pogan, a project that could have become a gateway for trillions of Bitcoin liquidity into Cardano's decentralized finance ecosystem. However, the community voted against Input Output's (IOG) initial funding request in April, which led to the project being split into nine separate proposals.
As a result, Pogan can now operate across multiple networks rather than focusing solely on Cardano, depriving ADA holders of potential transaction fees that could have supported purchases and contributed to the treasury. Hoskinson noted that if the proposal had been accepted, $100 million in stablecoins would have been locked at an 83-cent ADA price, significantly different from the current situation where ADA trades below 25 cents.
Hoskinson emphasized that these funding decisions demonstrate the commercial consequences of Cardano's decentralized governance, stating that projects can now choose to operate across competing networks. IOG will increasingly decide where products should operate based on commercial and technical considerations, with Cardano remaining an option for applications where its architecture provides an advantage.