Patrick Beggs

[Dave @ItsDave_ADA]

You can review my full DRep voting record through DAVEGov, the governance platform I built to make DRep behaviour easier to verify.

So far in 2026, I have supported spending equal to roughly 60% of the current Net Change Limit.

I currently rank 20th by voting power and have committed to spending 87 million ADA less than I had at the same point in 2025.

My priorities remain decentralisation, scalability, interoperability, sustainable growth, and long term ecosystem resilience. I believe my voting record and wider contributions reflect those priorities and have contributed towards these advancements in Cardano.

DAVEGov lets ADA holders review DRep spending, voting history, rationales, voting power, major spenders, and broader governance analytics.

You can review my record here:

https://t.co/gxohlFvzpT

[Patrick Beggs @Patrick_Beggs]

@CryptoSA99 @ShillMoBaggins When is V2 coming?

[Surge | Trade Automation on Cardano @SurgeCardano]

Surge included trade execution through our own Cardano node.

On Cardano a third-party batcher fills your order: no receipt, no notification. Most platforms rely on external providers to work out what happened. We run it on infrastructure we control, with detection in under a quarter of a second.

Alongside it: clearer trade statuses and one-click fund recovery on orders that can't fill.

Shaped by beta tester feedback.

[Defi-the-Oz @OzDefi]

@cryptorover @IagonOfficial already checked the MiCA box.

Serious projects build solid foundations even though it's not reflected in the price.

$IAG

[Dave @ItsDave_ADA]

I have just successfully executed end to end what I believe is the first example of selective disclosure privacy capabilities on Cardano.

After weeks of hurdles, and what has honestly felt like months of problem solving, I now have a working approach that can support a wider range of privacy based disclosure use cases on Cardano.

The important part is the architecture. A user can prove something about themselves, or their on chain position, without exposing more information than is actually required.

That opens up practical use cases around gated access, governance access, delegation based verification, eligibility checks, and privacy preserving interactions.

There is still more work to do, but this feels like a meaningful step forward.

Privacy on Cardano is starting to become very real.

A huge milestone for Cardano that I will be pushing forwards as much as I can, and the capabilities are down to the hard work from all the engineers involved and a reminder that funding these activities is essential to Cardano's future growth.

To everybody that doubted me, this one is specifically for you.

[Holger - Guarding our Vision! @HolgerCardano24]

Someone should have told Charles and Phil, what happens - every time - you try to burn a phoenix to the ground,...🫡❤️🚀

[Holger - Guarding our Vision! @HolgerCardano24]

Thanks for confirming that you are ill-informed and that you use that as a basis for spreading conspiracy theories and propaganda yourself - now we have a base to talk about. I will answer directly in your text:

"If I am not accurate in my understanding please correct the record."
Happy to do so.

You guessing:
"But from what I have seen the whole saga started after Iagon didn't get reimbursed for Fireblocks from the CCI fund (which you were not part of), and when Blockfrost chose to integrate Filecoin over Iagon."

Facts:
Here is the problem - you have either seen it from people like Phil, or someone else who just wanted to spread a certain narrative to create a base to later on attack Iagon as a whole.

Let's split this in two parts, because that's what it is:

1. Fireblocks
Iagon planned to self-fund the Fireblocks close-gap-solution by itself. There was never any intention from Iagon to request third-party funding for that, or to rely on such.

After we and Fireblocks announced what we were successfully doing, everyone was hyped (and still is), because we do not only include $IAG, we include ADA and all CNTs in it. So that enterprises have access to all CNTs & ADA instead of $IAG only - fully paid out of our own pocket.

When that was hyped big on X, Charles said that this is awesome and "we" should reimburse Iagon for that.

Obviously, we have no problem saving our own money for other things - so we were open to that idea, why not. I think this was supposed to go through Pentad.

(We will come to the Pentad part a bit later again, but we need to touch on Blockfrost first.)

2. Blockfrost
Blockfrost is an API which provides on-chain data to developers etc. It was heavily funded by Catalyst, and also has paid plans to offer their services.

For our Fireblocks Solution we use Iagon Insight, which is also an API that provides extensive on-chain data for Cardano.

IO/Charles bought Blockfrost and requested 8M ADA for it. 4M ADA alone were defined to keep it running and for maintenance. Let that sink in - a service on Cardano for years and years, having a paid model as well, but needs 4M ADA to keep running. Shouldn't a business that has revenue take the money from that, and not ask the treasury to keep it alive? And if so, maybe rethink the business model? Whatever, not important for now.

Fact is, Charles/IO, who bought Blockfrost, now requested about 8M ADA.

Now Iagon comes around the corner with their Fireblocks Solution and says: Yo Cardano, we built Iagon Insight for free - and everyone can use it.

And that is where a conflict of interest kicked in.
Like: are we now going to reimburse Iagon, and then basically strengthen them further, while they already created a very competitive product, which they do NOT ask for treasury funding for?

And now comes the pure speculation part:
Pentad was controlled by 2 entities which are directly owned/founded by Charles. And another 1-2 where Charles has a big influence.

So we have 3-4 out of 5 which are Charles-controlled or influenced.

And guess what, even after Charles said in a video that Iagon should be reimbursed, Pentad at some point said no, and did not say why.
So, now you know the full story about that.

Back to pure facts:
Iagon never planned external funding for Fireblocks, and our goal was to fund it out of our own pocket from the start.

So would it be nice if the funding took place: sure, why not.
Did it drive us mad or something because it did not happen? No, absolutely not, because we were just back at the point we had planned from the start.

But Phil and other guys pushed this as a reason why Navjit asked questions as a DRep - legit questions.
So instead of answering simple governance questions, they decided to not answer them AT ALL, and instead pushed some gaslighting BS like: he is only asking that because he is mad that Iagon did not get reimbursed.

Which is nonsense: as I explained, we were not mad, because we were back to our original plan, BUT they created a gaslighting reason to not answer legit governance questions.

No idea why they chose Filecoin for some stuff Blockfrost needs to store, INSTEAD of a Cardano-native product which could do the same.
But hey, let Cardano give 8M to Blockfrost and then do not even support your own ecosystem projects.
(You can make of that what you want.)

But back to us...
Filecoin offers a different product than Iagon.
Iagon does not care about Blockfrost using them, because we do not see Filecoin as a competitor.

Would it be nice, and supportive of the ecosystem, if they had used us? Sure! Does it make us mad? Absolutely not.

=== Bottom line for Section #1 ===
1. A reimbursement for Fireblocks not happening was NOT a reason, because we never planned that in the first place.

2. Blockfrost using Filecoin (and even later on Charles saying he wants to work closer with Filecoin) was NOT a reason, because we do not see Filecoin as a competitor.

So your "what I have seen the whole saga started after" is based on what Phil & Co. spread to create a certain narrative - which was/is not true - only to be able to say:
Look, he is mad because of reason X, which was never the case.

You guessing:
"From there Nav started publicly calling out Midnight ambassadors"

Facts:
He asked Midnight ambassadors who are ALSO DReps if they see a conflict of interest, and asked them if they would vote with abstain when they vote on a proposal of a company that also pays them for being a Midnight ambassador.

Imagine you work for Company X and get paid by them, and then Company X asks for money, and you vote against them - do you think this company would be happy? So it is fully legit to ask these DReps HOW they will vote. That is not "calling out someone" - that is USING the decentralized governance system Charles invented himself.
See how this now sounds completely different from what has been spread to create a certain narrative?

You guessing:
"claiming that they shouldn't vote on IO proposals due to a conflict of interest, even though they are volunteers."

Facts:
No one told them how to vote, they were asked IF they will vote with abstain.
"Volunteers" - I know for a fact that some of them are getting paid (4 figures). Maybe there are some who do everything for free, but this is NOT the point. If you work for, help, or whatever you do for Company X, and then you need to vote if the same Company X gets funding... what are we even talking about? In 82423 countries on the planet you would not even be ALLOWED to participate in the voting because of the chance you are biased.

You guessing:
"Lately most of your tweets have been focused on your resentment towards CH, rather than your product."

Facts:
You mean after he was talking BS about Iagon - using his 1M+ follower impact etc. - and crashed the Iagon price by 32% in 1 day?

Or you mean, after his personal slave (Phil), who is ordered to do his dirty work in public, called the Iagon community "inbreed monkeys"?

Or you mean the point where Charles tries to guilt-force an entire country (Japan) to vote YES, otherwise it is their fault when Cardano fails?

WE (Iagon) are building on Cardano.
Navjit and I are both DReps.
So obviously, we point out things we believe are NOT correct from our point of view. EXACTLY that is the job of a DRep - that is how it is supposed to work, per design by Charles himself.

So DReps are supposed to check, investigate everything, and then come to a conclusion and based on that vote accordingly. Do you SEE the logic in my last sentence?
DReps need to do some research, and for that you would typically ASK people - for example, ask a potentially biased person IF he would vote with abstain.

BUT as we all know by now, checking on everyone and trying to do a good job as DRep is okay... AS LONG as you do not check out what Charles is doing...
THEN suddenly you are not doing your DRep stuff anymore, you are bullying people ;-)

Let me focus on the "rather than your product" part a bit more here - and let me be blunt:
What is wrong with you?
Do I tell you: "Yo, why do you focus on spreading lies on X, if you do not even know the facts, instead of spending time with your family?"

Does that sound super strange and inappropriate?
HELL YES - IT DOES!

So me and Navjit doing our job as DReps and spending maybe 1h per day on X means we are not doing Iagon-related things the other 16h of the day?

I am not sure if you are only doing that online or also in your R/L, approaching grown up men and implying what they do and what they don't do. Do you have a crystal ball or something?

"It's no wonder IAG investors have been leaving – it doesn't instil a lot of confidence in Iagon to see the CEO and CTO constantly air their dirty laundry in public."

Once again, another crystal ball session I guess.
I am sure you have more insight into how many investors we have, which new ones we get, and if someone is leaving.

We are not "constantly airing dirty laundry in public". What we do is take our job as DRep seriously.

It is not being a DRep to have a cool "badge", or to make people think you are cool and get more stake to your stakepool, or whatever. It actually means you need to move you %ss and do something: do some research, ask the inconvenient question, and by doing so come to a fact-based conclusion to be able to vote correctly.

Not like you, going on hearsay and using it as a base to spread lies. No matter if you are spreading lies intentionally or unintentionally, by not doing proper research and just REPEATING lies, you spread a certain narrative - the same one you heard - which was a lie.

"It is pointless to keep going down this path. Focus on developing the product and attracting more customers (right now Iagon has just 72 subscribers). Move on from the drama and get back to building."

Blah blah and crystal ball time again...
- Who are you to tell grown up men what to do?
- As always, I am sure you have a better insight on usage than we do.
- We are constantly building. Just because we drop a post does not mean we are not building. The day has 24h. Not sure, maybe you need 20h per X-post, but that is not the case for us.

Hope that helps you see reality vs FUD/slander.

[Patrick Beggs @Patrick_Beggs]

@adamKDean @ItsDave_ADA @MidnightNtwrk I am just thinking for myself, I would love you use the cardano dapps for loans (if or when I need them) rather than traditional system (to help the ecosystem grow) but it’s not feasible because of the collateral

[Patrick Beggs @Patrick_Beggs]

@adamKDean @ItsDave_ADA 3/ Could the privacy identity layer sit on @MidnightNtwrk , while the actual loan repayment or subscription payment settles on Cardano?

Private proof of trustworthiness, with transparent and secure settlement on Cardano. Is that a realistic model?

[Patrick Beggs @Patrick_Beggs]

@adamKDean @ItsDave_ADA 8/ A direct debit-style system would not be perfect, but predictable monthly revenue is how many normal businesses survive.

It feels like something worth exploring more seriously on Cardano.

[Patrick Beggs @Patrick_Beggs]

@adamKDean @ItsDave_ADA 7/ This could even be done in a Web3-native way.

For example, users might need to buy a new NFT each month to keep access to a premium service.

[thr33 ⛏️ @thr33str1kes]

🧵 @IOHK_Charles can huff and puff, but Iagon isn’t some straw house he can blow down.

$IAG is tied directly to actual infrastructure: decentralized storage, node incentives, staking mechanics, and real network utility.

The price can move. The foundation is solid.