REPOST but to Cardano:
Dear @Cardano, we have been in deep discussion with
@IOHK_Charles and how recent price declines will impact their budgeting needs / ability to deliver on IO proposals. Combine that with my sincere belief that we do require more structured leadership (in conjunction with constructive community involvement);
@emurgo_io will shift to a "Yes" vote for IOR. We are at an existential moment for @Cardano where actions we take now will reverberate through our ecosystem. Also make no mistake, that every chain, is facing the same decision.
EMURGO believes the following: 1. Leadership: At this time, I believe need an executive function that is led by Charles @IOHK_Charles, Fred @F_Gregaard and myself
@phillip_pon alongside Jack @JBriggsLondon
at Intersect. The community will and must be involved.
2. Infrastructure: We need to fund infrastructure and
@IOGroup and some specific protocols / projects remain best positioned to ensure core needs are met.
@Cardano_CF also does work on these matters, alongside @IntersectMBO. @emurgo_io
maintains libraries that are used by nearly all Cardano projects.
3. Commercial: Investments must also be prioritised but we must also accept that most will fail. It is the nature of early stage investment but we must try to create a thriving ecosystem that embraces a multi-chain future. Strike offers other chains too. @LayerZero_Core
is essential to this strategy as are @circle, @PythNetwork , @DuneAnaIytics and
@FireblocksHQ.
4. Marketing & Branding: Web3 is fighting for attention in the age of AI. @Cardano has a unique opportunity to rise above the fray alongside @MidnightNtwrk@F_ZK_Now. Having said that, I am not a proponent of parties, happy hours, or 'free drinks'. Marketing & Branding are serious efforts that need to be led by serious people. I was recently at a dinner with a VC, Regulator, Market Maker, and prominent project where more was done to advance Cardano's relevance than a glad handing party of the usual faces.
@emurgo_io will support serious Marketing and Branding efforts.
There is a lot more I want to say but I want to call upon all DRep to vote "Yes" to the IOR proposal and for those who have abstained or voted "No" to reconsider.
Price has changed, therefore, the value & importance of the proposal has increased.
Hope the Cardano Army is doing okay. I’ve spent six years warning you about this fella.... my goal was always to look out for retail investors. Stay strong out there. cardano:native
Crypto if triumphant, will change the world. Cardano is built to change the status quo and bring power to the base of the pyramid, but it will not win without blood on the floor.
It will be very hard. Right behind you Charles.
Cardano will conquer this hill.
@DeOpenSourceGuy It's a pretty clear strategy. Make Cardano a toxic hellscape until I leave, and then they will disappear and let Cardano die. Then they will say Cardano is a failed project because Charles rugged everyone. It's a sick and twisted plan.
Charles, when every critic becomes a villain, the pattern is not everyone else. The pattern is you.
You just listed Optim, Iagon, Cardano Whale, Dave, Rick, Adam and others like this is an "inventory." It is not an inventory. It is a list of people in this ecosystem who have questioned you, disagreed with you, did something you didn't like, challenged IOG, challenged a narrative or refused to act like Cardano governance exists only to ratify what you want.
And instead of reflecting on why so many serious people keep ending up on the other side of your megaphone, you reach for the same playbook every time
- Dismiss the substance.
- Attack the person.
- Recast yourself as the victim.
- Then tell everyone else to "grow up."
So let's take the Iagon part of your "inventory," since you brought us into it. You say Iagon "started bullying and harassing" Midnight ambassadors. That is a convenient story, but it is not what happened.
I as a dRep asked a governance question, NOT Iagon.
A dRep asked whether people with roles connected to Midnight or IOG linked interests, who also held meaningful dRep voting power, should abstain on IOG related treasury proposals. That is governance.
That is literally what dReps are supposed to do - ask hard questions, examine conflicts, protect treasury neutrality and represent the $ADA holders who delegated voting power to them. If a person is participating in governance with delegated $ADA while also holding a role connected to a project or organization affected by that vote, asking about conflicts is not an attack. It is accountability.
And let's be very clear - ambassadors are not above scrutiny. dReps are not above scrutiny. Iagon is not above scrutiny. IOG is not above scrutiny. Midnight is not above scrutiny. You are not above scrutiny.
This is supposed to be decentralized governance, not a court where certain people get protected status because they are useful to Charles Hoskinson.
The moment a person participates in public governance with public voting power, the public is allowed to ask public questions. You did not answer the conflict question. You reframed it as "bullying" - ironically this is exactly what you have been doing in this ecosystem.
Then you escalated it into an attack on Iagon, my leadership and the holders.
You used your platform to tell the market you had "no more time" for the project unless leadership changed. You warned that Iagon could fail and destroy value for token holders. You called into question the ethics and integrity my leadership. You accused us of acting out of spite rather than engaging with the actual governance concern.
And then, after the damage was done, you turned around and said people are "playing the victim." That is not leadership. That is deflection.
You cannot threaten a Cardano native project, watch real holders suffer, then accuse the people objecting to the threat of being childish.
You cannot say you care about token holders while dismissing "your token holders" when those holders happen to be in a project that challenged you.
There are no "Iagon holders" over there and "Cardano holders" over here. $IAG holders are $ADA holders.
They are stake pool operators.
They are voters.
They are dReps.
They are builders.
They are community members.
They are families.
They are the same ecosystem you claim to defend.
When you attack a Cardano project, you are not attacking some foreign body. You are attacking people inside Cardano. That is the part you keep avoiding.
You talk about ambassadors being bullied. Fine. I will say this clearly - I do not condone harassment of any ambassador, volunteer, dRep, builder, SPO or community member. Anyone who crosses into personal abuse should stop.
But do not use "protecting ambassadors" as a shield to make governance questions untouchable. Do not use volunteers as human armor around treasury proposals.
Do not say "decentralized governance" when the rule is really - vote,but do not question my side - ask question but not about my people - participate but only if you accept the consequences of my platform turning on you.
That is not governance.
That is intimidation. And since we are talking about red lines, where were those red lines when Iagon was being called a scam? Where were those red lines when IOG aligned voices and consultants were smearing Iagon publicly?
Where were those red lines when defamatory claims, racial slurs and personal attacks were being thrown at builders who have spent years building on Cardano?
Where was the concern for "bullying" then?
The standard cannot be:
When your side attacks, it is criticism.
When others ask questions, it is harassment.
When you escalate, it is leadership.
When people respond, they are victims.
When you use a 1M+ follower account, it is accountability.
When a dRep asks about conflicts, it is a mob.
That double standard is exactly why people are speaking up. You say people "lash out, get hit hard and then play the victim."
No.
People ask legitimate questions. You hit hard. Then you call their injuries proof that they were wrong to ask. That is the pattern.
A dRep raises a conflict of interest concern. You call it bullying. A project CEO disagrees with IOG proposals.
You call it spite. A community member challenges your narrative. You diagnose them, mock them, block them or write them off. Then, when people notice the pattern, you call them children.
Charles, the lack of self-reflection here is breathtaking.
At some point, when the same story keeps happening with different people, different projects, different dReps, different critics,and different cycles, maybe the common denominator is not that everyone else is irrational.
Maybe the common denominator is that you treat disagreement as disloyalty.
Maybe the common denominator is that you confuse criticism with attack.
Maybe the common denominator is that you cannot separate Cardano from yourself. That is dangerous in a decentralized ecosystem. Because Cardano does not belong to you.
It does not belong to IOG.
It does not belong to Iagon.
It does not belong to Midnight.
It does not belong to any ambassador group, any DRep bloc, any founder, any company or any whale.
It belongs to the $ADA holders and the people building, maintaining, securing, voting, delegating, questioning and participating in it.
And if those people cannot ask whether conflicts exist without being threatened, mocked, financially harmed or publicly targeted, then governance is not free.
You said "grow up kids." Here is the adult version:
Answer the question. Should dReps with roles, incentives, payments, affiliations or obligations connected to an organization seeking treasury funds disclose those overlaps and consider abstaining?
Yes or no?
That was the issue.
Not your ego.
Not my tone.
Not Iagon’s existence.
Not whether Midnight ambassadors are good people.
Not whether Charles feels attacked.
Not whether people should be afraid to ask next time.
The question was about conflict, disclosure and treasury integrity. If there is no conflict, explain why.
If there is a conflict, disclose it. If abstention is not necessary, make the case. If the Constitution already provides the standard, apply it equally. But do not turn a governance question into a loyalty test.
Do not demand apologies for asking what every serious governance system must be willing to ask.
Do not pretend you are defending decentralization while using centralized influence to punish dissent.
And do not tell people to "grow up" while threatening to burn projects down.
The Cardano community should be able to disagree without fear. dReps should be able to vote NO without being branded enemies. Builders should be able to compete without being targeted. Token holders should not become collateral damage in personality conflicts.
Ambassadors should be respected, yes. But they should not be used to make legitimate governance scrutiny off limits.
So yes, let's take inventory.
Who asked a governance question?
Who answered with escalation?
Who raised a possible conflict?
Who turned it into a campaign against a project?
Who claims to care about token holders?
Who publicly attacked leadership of a project whose holders are also Cardano community members?
Who says others play the victim?
Who keeps casting himself as the victim whenever accountability arrives?
That is the pattern people are seeing. And no amount of "grow up kids" changes it.
Iagon will continue building. I will continue voting my conscience as a dRep. I will continue asking questions when treasury neutrality, conflicts of interest and governance integrity are at stake.
If I am wrong, answer with facts. If you disagree, make the argument. But threats, mockery, blocks and public intimidation are not arguments. They are the behavior of someone who wants decentralized governance only until it decentralizes power away from him.
Cardano deserves better than that.
I have given my heart and soul to Cardano over the past years, late nights, weekends, time. I have two young daughters, with another on the way.
I won't give up on Cardano, I won't be bullied out of Cardano, and I will absolutely now ramp up my efforts on Cardano.
The show, goes on, and we are a decentralized community, where every voice matters, we are united, we are together, we are equal.
WE are Cardano.
Whale said it. I’ll say it too, and others that genuinely care about Cardano will continue to say the same thing.
We need to be extremely fiscally responsible.
As ADA holders, DReps, builders and long term participants in this ecosystem, every treasury withdrawal matters. Especially for those of us with significant exposure to ADA who are not asking for budget allocations ourselves.
The treasury is not free capital. Every continued spend carries an opportunity cost to ADA holders and impacts long term sustainability.
If Cardano wants to remain competitive and continue holding a position among the leading blockchains, spending needs to stay focused on essentials that create measurable value, strengthen infrastructure, improve adoption, or materially advance the ecosystem.
Strong governance is not about approving the most proposals. It is about allocating capital carefully, understanding trade offs, and protecting the long term health of the network.
That discipline matters.
When is enough, enough?
Sadly, this is the end result of a piecemeal roadmap. It's an iPhone by committee, with people deciding whether they prefer the fingerprint sensor to wireless charging. You end up with a bizarre, useless product.
@matiwinnetou@jasonappleton I support Charles, he is the Crypto GOAT. But I also like you dear Mati. Plurality is beautiful. I also agree more leaders that build on Cardano would be great.