In any serious ecosystem, Yoroi would already be stepping down as a DRep.
A wallet vulnerability put a significant number of users and millions of ADA at risk. Funds were lost. Trust was damaged.
And somehow, after all that, Yoroi remains the DRep with **the highest voting power on Cardano.**
That should embarrass everyone pretending Cardano governance is working as intended.
When incompetence at this scale brings no real consequence, the problem is no longer isolated to a wallet team.
The rot has reached governance.
#Cardano
Everybody laughed when some of us said top 10 would become difficult, and that eventually even top 15 would be at risk if Cardano kept spending without proper discipline.
Now look where we are.
This was never about being negative. It was about basic treasury management. Supply matters. Sell pressure matters. Incentives matter. Accountability matters.
ADA holders carry the cost when treasury ADA is spent. That cost is real, even when it is wrapped in good intentions or future promises.
At some point Cardano has to become more fiscally responsible. Or we can keep attacking the people who care about spending, while pretending the consequences are somehow unexpected. Strategic spend is essential.
The treasury is not infinite. Long term value needs discipline.
Cardano is about to drop out the top 15, are you listening yet?
That's not the issue. I believe most people want the Founder to remain active, influential, and strong within the ecosystem. However, that should be accompanied by emotional stability, institutional conduct, and a willingness to engage with criticism and differing opinions.
Personal attacks do not contribute to finding solutions or strengthening the community. I've noticed that whenever community members express disagreement or raise legitimate concerns, they are often met with attacks. This creates the impression that criticism is being dismissed rather than addressed, or that pressure is being applied to secure funding without proper scrutiny.
No leader should be above questioning. The ability to listen to criticism, respond respectfully, and engage in self-reflection is essential for anyone in a position of influence within the ecosystem.
Cardano $ADA has now fallen to the #14th spot on @CoinMarketCap making it an opportune time to reflect on its predecessors.
Polkadot (DOT) fell from its #7th ranking spot to its current #37th spot through a multi-year cycle of high inflation, aggressive OpenGov treasury spending which required DOT sales/conversions, and resulting holder frustration that amplified selling pressure and capitulation.
The treasury/governance dynamic created a clear negative feedback loop: proposals passed → funds spent/sold → dilution perception + "waste" FUD → holder exits → lower price/rank → more frustration.
How the loop worked mechanically: Devs/teams/ecosystem actors proposed via OpenGov often passing with engaged voter support; treasury approved → assets sold/swapped for fiat/stable funding → market sell pressure. Holders saw ineffective outcomes (e.g., marketing didn't boost adoption meaningfully) + dilution → frustration → more selling/staking rewards cashed out. This compounded over 2024–2025, turning DOT into a chronic underperformer despite strong tech (parachains, GitHub activity).
Gov spending later tightened dramatically (cuts up to 68% + more stablecoins), and tokenomics reforms helped, but the sentiment damage + lost momentum locked in the ranking drop. Many view it as a cautionary tale of decentralized funding without enough accountability/metrics early on. Recovery would need real traction now that the overspend phase is behind.
Thank you for the summary on Polkadot's history @grok, hopefully we are smart enough to learn from their mistakes.
Two layers, one stack.
Fireblocks RAW signing + @IagonOfficial's Cardano nodes and Insights API now give approved customers an operational path for ADA and CNTs.
Wayupdate:
We’ve officially crossed 6,500 listings, which represents a staggering 550% increase in native Wayup listings, in a 4 day period.
This isn’t just a number. It’s proof that the community is showing up strong and that builders are choosing Wayup as their marketplace. It also represents activity, which directly refutes the "NFTs are dead" narrative.
Even more importantly, we did it with zero downtime. Not a single hiccup during one of the busiest periods we’ve ever had. That stability matters, and our team has been working around the clock to make sure the platform keeps scaling smoothly.
Huge thank you to every creator, collector, and supporter who’s been part of this surge. We have had a ton of tickets and enjoyed helping every single one of you get verified on Wayup.
This momentum is yours as much as it is ours.
Keep the suggestions coming in. Let us know how we can improve. We are a small team but extremely scrappy and motivated to make Wayup the best it can be. We will be implementing new features but will be carefully balancing workload to make sure we scale responsibly.
Also, shoutout to the @TapTools team for working on the weekend to fix some volume statistics, it's greatly appreciated.
As always, let's go Wayup!!
Alright, everyone. Here comes some transparency for the people who have me as their DRep.
Disclaimer:
EVERYTHING I write is my personal view/opinion and has NOTHING to do with my position as CTO of @IagonOfficial
-- Sad day for our Vision, but here we go:
I just voted with NO on every single IO proposal.
-- Why so?
Because I personally deem the CEO of IO @IOHK_Charles as unfit for the job - to handle our Ecosystem in a proper way.
-- Holger,..WTF? What do you mean?
I could tell you a lot of stories why, and I could tell you a lot of stories where I defended him from a perspective of: "he is also just a human like all of us - humans have bad days, make mistakes, bad decision, etc."
BUT (!!!) we reached a point where it is NOT funny anymore!
When people ask Charles on X why he is bashing @NaVi_GaT0R (CEO of IAGON) and @IagonOfficial itself, then he answers with (i quote):
"He just downvoted the IO funding proposals [...] this is objectively wrong".
-- Let's get this straight:
As of today it looks like the Founder of #Cardano - who "invented" and "created" the decentralised governance - will shame/blame you socially (with his more than 1 Million follower X-Account) when you vote against his proposals where he asks for over 140 Million ADA. (That is even at the current low ADA price: over $35 Million USD)
Please remember that IOHK got 2,463,071,701 ADA (2.4 Billion) over the Genesis Block Distribution.
So, IF you use the decentralised governance system and have a different opinion on how and/or how much money should be spent, then you or your company/Cardano project are going to be slaughtered by the Founder of the Ecosystem himself.
HOW DARE YOU VOTE against the "King" himself, when he asks for money,.. you "little peasant" ?!?!!
For me it does NOT matter if the topic is about IAGON, SNEK, or the holy Virgin Mary.
The decentralised governance system is to vote and state your opinion - like it or not, but free speech is free speech.
UNLESS you vote against the "King" then "he" sends (or at least he does not tell them to not do it) his "Soldiers" (Employees) like Riley who post more FUD to create more "uncertainty" for those $IAG holders which are not always up-2-date and only act based on the price and/or fud they see.
And when the $IAG price takes a hit, because of his 1M reach + that of his "Soldiers", the Founder of #Cardano then posts a Bane video - which looks like a response to the $IAG price-crash-chart for X users.
Hosky, writes under the price-crash-chart screenshot: "Let's see if it works" and tags Charles.
Charles replies to Hosky with a video showing a scene with Bane (from the movie "The Dark Knight Rises")
I quote what Bane says within the 15 seconds of the video:
Bane:
"Your punishment must be more severe"
Dark Knight:
"Torture?"
Bane:
"Yes,..But not of your body...of your soul"
So, Charles requests over 140M ADA from the Cardano Treasury, because 2.4 Billion Genesis ADA is NOT enough. Then the CEO of one of the biggest Projects on Cardano (IAGON) says: nah bro, i do not like that - let me vote with: no
Then Charles runs the drums to hurt IAGON, because IAGON's CEO wanted to exercise free speech in the voting-process "Charles" invented.
And when he reached his goal to hurt a project within his own ecosystem, then he makes a statement and which is presented to the X community as: "The punishment must be more severe, it must be torture of the soul. "
Brings me to a simple personal question - i would like to ask Charles:
Are you fucking nuts, or just an asshole?!
How can someone self-sabotage his own Ecosystem so hard?! OH WAIT, he created midnight - so fuck Cardano, right?! Is it that Charles?
-- So long story short.
I voted NO on all IO proposals, because Charles manages it. The IO employees are most likely all good people, but the fish is rotting from the head down.
-- Just a no-vote, or do i also have a better idea?
At a first glance - i would say - we should create a company, which hires all good IO workers, and we pay them from the treasury directly. No mad middleman who loves to shit on his own work one day and eats at the same place the next day.
-- FINAL statement:
Could this all be written more nice? Yes
Did I instead just write down what is in my head? Yes
Is it therefore maybe not perfect? Yes
But does it still deliver what my opinion is?
I think/hope so.
And look at my X-Name: "Holger - Guarding our Vision!"
That is not because it should look fancy. It is this way, because i mean it!
And that also means, that the little peasant stands up when the "King" is doing some bullshit and not only salutes and says: Yes Sir!
(As many DReps do, because they only follow Charles blindly - no matter what he says or does)
Like what I wrote/think?
Want to support it?
Does it align with your thoughts?
Then feel free to delegate or switch your DRep delegation to me.
DRep-ID: drep1y2k8uedxj5xzymxxzf07plg0t5xd4mmckwg9lwkwhdlwyesy0eyf8
Thank you for taking the time to read till the end!🙏
p.s.: @IOHK_Charles this time you fucked it up ultra hard,... maybe today it's me with the bad mood, with a mistake, with a wrong statement - I am also just a human. But from my perspective all this feels more than wrong!
Today we had over 100 new sign-ups for Ale & Axes. Seems like we reached the gaming community already!
Welcome, and we're glad our game sparked your interest.
If you have friends who want to feel the nostalgia from MMO's back in the day, tell'em about Ale & Axes!
We continue to support the Cardano ecosystem. Not just words but through action
Iagon proudly is leading the way for not just enterprise adoption but Cardano adoption
The Cardano network isn’t the “nerd chain.”
No, cabrón… it’s the chain for people who actually think.
It’s the chain of professionals — engineers, scientists, doctors, builders — people who understand technology, security, and long-term fundamentals.
We’re not bots.
We’re not 16-year-olds chasing meme coins on Pumpfun.
We’re the ones building the architecture the world will end up using… even if they laugh today.
Cardano is not hype.
Cardano is not noise.
Cardano is inevitable.
Watch how fast people change their narrative when the rest of the world finally catches up.
Just upgraded all nodes (mainnet and testnets) to version 10.5.2. First block on the new version has just been produced! 🎉
🚨 If you're an SPO and running on 10.3, 10.4 or 10.5 (other than 10.5.2), please upgrade ASAP due to a bug which could lead the node to accepting a bogus transaction, potentially forking the chain.
https://t.co/gtocSW5Uoi
Dear Cardano Community,
As you know, in May 2025, IOG engaged McDermott Will & Schulte and BDO to conduct an Investigative Report and Forensic Audit concerning the ada Voucher Program, redemptions of Vouchers, Cardano blockchain upgrades, and the use of ada associated with unredeemed Vouchers. It is now complete! The 128 page Investigative Report and Forensic Audit, dated September 2, 2025, documents certain milestone events and decisions in Cardano’s 10 year history and investigates a series of public accusations made on social media alleging wrongdoing concerning the Topics of the Investigative Report and Forensic Audit.
The public accusations included five principle allegations: (1) Cardano insiders stole or otherwise misused ada that should have been allocated to Voucher Holders; (2) improper sales tactics were used in connection with the Voucher Program; (3) Cardano blockchain upgrades were designed to make it difficult to redeem Vouchers; (4) Cardano blockchain upgrades deleted Voucher Holders’ “private keys” or assets; and (5) that Cardano insiders had no legal right to send unredeemed ada to CDH and decide how to spend it.
I am pleased to report that the Investigative Report and Forensic Audit reaches the following conclusion:
“After review of tens of thousands of documents, a forensic on-chain and traditional forensic analysis, and eighteen formal interviews of current employees, former employees, Voucher Holders, service providers, community members, and other third parties, the Investigation determined that each of the allegations related to the Topics of Investigation do not have any basis.”
I encourage anyone interested to read the Investigative Report and Forensic Audit. It may be found in its entirety here: https://t.co/cA9FLUbS8n
It has been a long ride, and I want to personally thank the Cardano Community for your patience and support.
Something isss brewing in Kraken lissstings 🐍🐍🐍🐍
We’re listing $SNEK @snek Apr 28, 1500 UTC!
ℹ️ Depositsss and withdrawals are already enabled, markets are currently in post-only mode
Deposit here ⤵️
https://t.co/WMhVnmbltQ
*Geographic restrictions apply