An Open Letter to the Cardano Community from IOHK and Emurgo

iohk-blog

#21

I agree it seems a little Greek_tragedy.io, or maybe Shakespeare.io A group of people coming together from different cultures to capture an opportunity of a lifetime - to make a blockchain protocol, and be benevolent rulers. They raised the bitmoney, wrote some code, and suddenly their blockchain was valuing with a money supply bigger than some countries. All in a few months. On the information superhighway. But people were plotting…

This ancient history re-spin has the 21C twist - here comes decentralization. Autocracy will have no authority once that button is pushed.


#22

In the meantime, as far as I understand, getting a hold of the huge amount of ADA that CF was allocated in the beginning remains problematic.


#23

Yes. Let’s see if Peasons replies to the community and responds to their concerns openly.

Like the ghost of a faillen king, the stirring of the Ethereum fork ETH/ETC rumbles while Hoskinson walks the embattlements, reflecting and questioning. And this tale has a Swiss prince, with power and charm. What will happen on the board remains to be seen.


#24

Glad to see action being taken. Sadly until we hear from Parsons and the state of there funds and ADA is known, it represents a large, ever present risk to the ecosystem.


#25

In addition to a sizeable chunk of ADA being held by CF, I’m also concerned about potential problems with the use of the Cardano name, trademark, etc., which I believe are legally owned by CF. Despite the fact that IOHK / EMURGO are at the heart of our ecosystem at the moment, the name “Cardano” is what we are known by in the crypto space. ADA, not so much. For a very long time, Charles has been often erroneously referred to as the CEO of Cardano. If matters are not resolved with CF, what will happen to the Cardano name and trademark?


#26

Good question… I expect the community to continue with the Cardano brand, this will be interesting for sure though.


#27

In the open letter IOHK and Emurgo claim

Material misrepresentations and wrongful statements by the Foundation’s council including a claim that it owned the trademark in Cardano. The council has even tried to assume the power to decide who speaks for the protocol, what should be deployed on the protocol and how the press should represent relationships between Emurgo, IOHK, the Foundation and third party projects.

source https://iohk.io/blog/an-open-letter-to-the-cardano-community-from-iohk-and-emurgo/


#28

Rename campaign + hard fork?


#29

I think it’s too early for a “hard fork”


#30

Yes, but arguing that the Cardano brand does not belong to the Cardano Foundation would be costly and a fool’s game.

I agree with @Daniel ; it’s too early for a hard fork.

Unfortunately, a name change is more likely. Perhaps sooner than later, as IOHK and Emurgo ramp up their marketing campaign.


#31

I could be wrong, however isn’t this dilemma (re locked up funds) similar to the experience that motivated CH to leave Ethereum (although the context is very different). I thought that the ecosystem needed to remain immutable…The solution is going to rely on some semblance of ‘integrity’ on behalf of CF leadership and possibly a dash of ‘legal ramifications’.

The ‘reporting’ on this entire matter (outside of the community) worries me. Doom and gloomers doing their best to stir up drama with little to no research nor any due diligence (a quick search of Google or Youtube reveals a bunch of titles that are not ideal). The PR around this need to be managed very carefully. A follow-up by CH and/or the ‘Guardians’ is a must…

We got this far even though there was ‘poor performance’ on behalf of the CF. I am trying to manage my disappointment and concern about the ‘fallout’ of this entire exercise by considering the positives: i.e. where we could head when we have the ‘right people’ in the ‘right roles’…


#32

Nah… the project will go on with or without CF involvement, with or without CF funds. The good news is CF had never rili did anything, so you wont feel much difference, and the good news again is IOHK/Emurgo gonna start doing something. If you already survived from day 1 till now, the worst days are over, a better tomorrow is coming. We will see more community projects and more community involvement and more marketing as everyone begging for.

I see CH’s announcement as the ending of a unfortunate event, not the beginning. You have no idea how many people in this community are willing to do some contribution to the Cardano ecosystem. They had asked many and many times from CF, from partnerships to meetup resources. No response was given and everything was held back.

I’m really glad that we can dump this burden and move forward, we no longer need to wait for a response will never be given.

The CF fund is a lot, but compared to the future money from people willing to invest into Cardano ecosystem is just a little. We still got a long way to go, if someone wants to stop moving together, just let it be.

Also from the community people I’ve been talked to, I would say over 90% people are so rational and positive on this change this time (maybe they were so disappointed at CF already). They all see this split-up a good thing, and you can see that this didnt affect our price at all.

So stay strong, we the community and the project will be better!!!


#33

Well said. Thanks @Mihori I am optimistic about the future and a little protective of Cardano and the community. I started my first thread this week and found the level of response very motivating. There are some great people in this community making some excellent contributions. I have been keeping informed via the @philpa YouTube channel and plan to become more active in this forum also. @ADA_Fan and @Haskell-plus have been very generous with their insights also (just wanted to put a ‘shout out’ to them :))


#34

Of course this whole situation is unfortunate but let people and the doomers n gloomers talk, let them have a field day on this for no matter what the outcome is regarding what the project is going to be called etc, it’s going to be a huge success. And for this reason, I’m happy for the whole crypto space to be talking about it as the project and community will be a hell of a lot stronger once we’re through the other side.

The most important thing at this point is for the community to stick together and support IOHK and Emurgo going forward.

The other silver lining is that the project can now consolidate and work on the tasks that CF should’ve taken care of.


#35

@DarfADA Very true. I understand the roadmap has some significant milestones coming up in the next 3 to 6 months. It is better to be dealing with all of this now, rather than later. The commentary shared on this forum over the past 2 days definitely suggests that an even stronger community is just around the corner :slight_smile:


#36

Absolutely, handled right, situations like this that seem like a big negative can be spun right around to create positives


#37

There is nothing wrong with the protocol, so there is no need for any fork.

This is what i learned reading about swiss foundations so far (please note that i’m not an expert in this domain)

Swiss foundation’s worldwide activities,
provided they are in the public interest and
altruistic, meaning that they do not serve
the interest of the founder. To be considered
as being for the public benefit, the class of
beneficiaries of the foundation shall not be
too restrictive.

The foundation actually carries out its
public-interest purpose. It is not suffIcient
to provide for a public-interest purpose and
keep the foundation dormant.

• The foundation shall not have an economic
purpose. Trading activities are allowed
as long as they remain secondary to the
charitable activities and further the
foundation’s purpose.

• Board members shall not, in general, be
remunerated for their work, but can be
reimbursed for their effective expenses.
They may be remunerated only for
mandates exceeding standard tasks
of a board member.

• Employees may not act as board members.

In case of dissolution, the foundation’s
assets shall be distributed to a tax-exempt
organisation pursuing similar public-benefit purposes.

The assets cannot return to the founder for their own profit.


#38

We were promised answers by the 30th of September. In an official statement by CF employees.

Most of these questions have been asked ~ a month ago.

The question about disclosing their ADA holdings has been asked multiple times, the first time was back in FEBRUARY 2018 directed at @cf_bruce during the London meetup.

We are done waiting.


#39

Just curious:

Why weren’t all lounge members ( at least those involved in the initial discussions about an open letter after the call with CF) notified when “We were done waiting” and that you had to covertly form the Guardians of Cardano? Did you not trust some lounge members? Or was it something about their profile that excluded them from this elite group of guardians?


#40

Try to remember everyone who was present during that last lounge call…

At the time there was not enough information available to make a strong case against what was going on.

Of the people who came forth with useful and actionable intel. It became clear that a lot of us were involved in moderating the social channels of the community, helping with meetups, etc.

It should not surprise you that this is not a comfortable situation to be in when you plan to release information like that.

And yes there were concerns of anything leaking prematurely… Or even worse, wrong information being leaked to create FUD.

There was fear of CF pushing back and shutting it all down before we were ready to release, and we desperately needed time to investigate without setting of too much alarms.

There is no “elite” group, only people who have volunteered over 13 months, days and nights (without renumeration) in their lives to help grow Cardano.

The stakes were high enough for those people to proceed with the open letter, they were the only ones willing to work even more hours on top of everything they already do for our community and on top of their regular jobs.

I feel they deserve better than to be called an elite group. Their names are on the petition and they are not superior to anyone from the community. But they did stick their necks out, for you and everyone else.

Great question btw! :heart: