Cardano community tired of scammers, Hoskinson fights back

Cardano founder Charles Hoskinson took to X (formerly Twitter) to address critics who believe some members of the community are exploiting the project. In a succinct response, Hoskinson asked critics whether every Cardano researcher and developer should work for free.

Hoskinson’s response arose from criticism from several members of the Cardano community, who expressed concern about the current state of the project. Many have argued that opportunistic individuals exist within the Cardano community and have called for a change in approach that could improve the project’s trajectory.

Echoing this sentiment, a member of the Cardano community identified as King Alex on X expressed his support for the proposal to burn the 1.5 billion ADA treasury. According to Alex, burning the entire treasury would stop the issuance of ADA tokens to “Cardano exploiters” who occupy high places in the project’s governance system.

Alex believes burning the treasury would have an immediate impact on the price of ADA, potentially causing a surge that would push the Cardano ecosystem token to $10. He encouraged other community members to embrace his idea, stressing that it would reflect support for the ADA and not the current system that suggests it supports Cardano scammers.

It is worth noting that Alex’s post has garnered support from other members of the Cardano community who believe that treasury funds have been misallocated to a group of large wallet owners who rarely contribute to the project’s development. One prominent interviewee told Hoskinson that he does not object to compensating those who help develop the network.

However, he criticized the current process, pointing out that he has yet to see the network’s best projects receive Treasury funding.