Cardano Foundation is a scam

Cardano Foundation is a scam. They are not accountable to IOG, they are not accountable to the community. There is no mechanism to hold them to account. While other foundations are scoring deals with the likes of Instagram, or reaching out to grass roots artists organisations, Cardano Foundation are out tasting wine in Georgia.

At this point I am exasperated that there is no mechanism to hold them to account - so I think we need to fork the chain and remove their funds. Or at least create the serious threat to do that, so that they recognise the community are seriously unhappy with their performance.



Listen im not interested in censoring anything critical but threads like those are a no go if you cant really name the issue here.

The Cardano Foundation is doing so much things behind the scenes and yet you are calling them a scam?

I will give you one hour to adapt this topic into a constructive critique.


No, how about you tell me what Cardano foundation are doing?
Plus I have clearly named the issue, there is no mechanism to hold Cardano Foundation to account - unless I’m wrong and there is one, can you tell me it?


I would rather see it as a problem that IOG is not accountable to anyone, then making the foundation accountable to them.

… and that would be an interesting proposal regarding IOG’s funds also. After all, they are much more than the peanuts that went to the foundation.

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IOG actually write code though.

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Do you need more? Cardano Foundation | News

The Cardano Foundation is thinking longterm here. Yes i do agree a partnership with Instagram or what ever social media platform is nice, but parterning with universities and connecting the THE open source OS is probably way better for the long term.


Aah yes, I’ve seen this before. Most of these are just that they hired some people (who have so far delivered nothing). Or partnered with companies who have so far delivered virtually nothing.

This is not progress, this is hot air.

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Its called building a foundation.

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While other chains are signing deals with Instagram, CF are hiring people?

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Is their role to sign contracts on behalf of the whole chain?

And they do run summit, website, this forum, ambassador program, pool delegations (which IOG just abandoned), …

And are currently involved in fleshing out the planned members-based organisation.

Also: They are important as a check against IOG holding all the BFT keys.


My point is really that all Cardano Foundation do is announce deals without giving any detail at all about what these deals actually involve - to me is looks like the deals exist on paper, but not in actuality.

Take the Georgian wine deal, for example, this was announced as “we’ve done this big deal to bring blockchain tracking to Georgian wine”, with absolutely no implementation details about how this would be achieved, no examples, no pilot. It looks like no engineering work has actually taken place.

This is common to all Cardano Foundation announcements - they announce a new deal, but nothing of substance is ever given from it.

Enough laying the foundation already, start putting up some bricks!


None of that stuff is major work, and none of it gets us any closer to the kinds of deals and integrations that the community would like to see.

People are getting fed up with Cardano being passed over for critical integrations like the Instagram one - as was mentioned by Blake from on Twitter today - contact details for the people at Instagram were sent over by him, and nobody at CF followed up on it. They are dropping the ball here, clearly, and the community is tired of the excuses.


It’s been nice to see a handful of people at IOG contributing documents & reviews, but it’s mainly a sustained Cardano Foundation initiative that’s driven this open source standards repository (the closest thing we have to Ethereum’s body of EIP standards):


I like the CIP process, are you suggesting I should submit a CIP to delete Cardano Foundation?

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Occasionally people propose items phrased like that (so far just posted here on the Forum, but none entered on GitHub yet)… but these wouldn’t be CIPs because Cardano Improvement Proposals only refer to the Cardano blockchain & related standards… not organisations.

You could submit it as a CIP if you defined your request in strict technical & tokenomic terms: e.g. setting the treasury taxation rate to zero, proposing a smart contract or destination addresses to liquidate the treasury, deleting or reassigning the CF’s 2 governance keys (out of the total 7), etc. :face_with_monocle:

Where is the update to video below? All the goals that were set the past years. Have they hit any of them? How many banks have been onboarded?

Additional where is the CF quarterly reports? Why isn’t it public?


So, you do like some of the things the CF does. Shall that be burned down also if you get your will?

And you do realise that the foundation has a lot less firepower than the other two founding entities, don’t you?

I still don’t get why everything good in Cardano is attributed to IOG/Charles and everything bad to the CF. (Though I heard that it was a lot less active in earlier years.)

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Yeah i agree that an update would be important but lets be fair, the year isnt over yet. So maybe (and hopefully) we will see something like that soon.

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Every blockchain has a process like CIP, it is not something to be uniquely proud of. I have contributed to a few of them myself.

But when people see chains doing deals with Instagram, or I think more pointedly, the Tezos foundation making a real effort to build a community of serious artists around their chain. I look at CF doing the absolute bare minimum and I think it’s just not good enough.
There are polls doing the rounds on twitter that show I am expressing the majority opinion here, so rather than trying to deflect blame or pretend there isn’t a problem, it would be good if CF were to accept some criticism and make a plan to do better.

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It is tempting to submit a technical request to basically remove funding from CF.

I should be clear though - I don’t think that there shouldn’t be a non-profit organisation with pretty much the broad objectives of the CF. I just think that CF are incompetent and at this point are basically embezzling community funds to waste time on inconsequential wine deals.

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