In the video, Hoskinson provides a thorough explanation of the decision to sideline the Cardano Foundation from the Cardano project, citing the Foundation’s “lack of performance” as a major reason for the decision.
NO SINGLE GUARDIAN OF CARDANO
Instigated as a three block federation, Cardano originally divided the project into separate legal entities of governance.
The various remits of each group were generally wide-ranging but, in general terms, the Cardano Foundation had been responsible for community relations, Emurgo for development and IOHK handled the technical development of the project.
Hoskinson’s statements on a resolution to change the current arrangement has been made with the backing of Emurgo’s CEO, Ken Kodama.
Listing various issues including the Foundation’s alleged lack of financial transparency, material misrepresentations and wrongful statements, Hoskinson highlighted the signing of the MOU agreement with Ethiopia’s Ministry of Science and Technology as an example of the breakdown of trust.
According to Hoskinson, “Unexpectedly, the Foundation decided to back out the week before and claimed in an email to IOHK’s communications director that it – without any basis or underlying agreement – was to be the single guardian of the Cardano brand and protocols.”
As a result, Emurgo and IOHK, who have been adamant there can be no single guardian, have decided to hire their own dedicated community managers for the Cardano ecosystem, effectively sidelining the Foundation.
Initial reaction from the Cardano Reddit group appear to generally support the removal of the Foundation from the trilateral governance equation and may go some way to easing the community’s frustration with elements of the project.