In a recent livestream, Charles Hoskinson, the founder of Cardano, addressed the contentious issue surrounding the allocation of Genesis ADA, aiming to clarify misconceptions and put the matter to rest. The publication provides the following information: the funds were primarily intended for development rather than community use.
Allocation of Genesis ADA
Hoskinson emphasized that the allocation of Genesis ADA was intended as a private profit for the early risks undertaken by Input Output Hong Kong (IOHK) and EMURGO, rather than a resource meant for community initiatives. He firmly stated that the topic should be considered closed, rejecting any suggestions to repurpose Genesis ADA for current projects.
Agreement with Initial Investors
The Cardano founder explained that the allocation was part of an agreement with the initial Japanese investors who provided funding for the project. He underscored the significant risks taken by the founding entities and argued that the community's demands to utilize Genesis ADA contradict the original terms of the deal. Hoskinson's comments are aimed at resolving the ongoing disputes regarding Genesis ADA and its implications for the future of the Cardano ecosystem.
In contrast to the recent clarifications from Cardano's Charles Hoskinson regarding Genesis ADA, the Nasdaq stock exchange is currently seeking SEC approval for its proposal on tokenized stocks, which could reshape traditional finance. For more details, see tokenized stocks.
