There have been many questions for the Cardano Foundation and as always, the project strives for transparency. We have taken some of the most commonly raised questions and concerns of the community and provided answers. Please have a read and do understand that follow ups will take some more time to prepare.
Q: How much ADA did Cardano Foundation receive at project launch? Why were funds moved at one point?
A: Cardano Foundation will publish their ada holdings to clarify this. In the meantime, it should be noted that Cardano Foundation’s ada were transferred from one wallet to another at one point in time. This was to ensure private keys were secure. During this transfer, no ada were spent or moved to other addresses, and this will be shown in the coming statement.
Q: What was the partner agreement with Cardano Foundation?
A: The remit of the Cardano Foundation is laid out on the foundation website and was formulated through its original business deed. In this deed, it is listed that
The Foundation’s mission is to the promotion of developments of new technologies and applications, especially in the fields of new open and decentralized software architectures. It is the aim that decentralized and open technologies will be developed, nurtured, promoted and maintained. A dominating but exclusive focus is set on the promotion of the development of the Cardano Protocol and the relevant technology to it as well as the promotion and support of applications using the technology or Protocol.
Q: What is happening with the Technical Audits?
A: Cardano Foundation will be reviewing and tackling this in 2019.
Q: What is happening with the debit cards and ATM’s?
A: Cardano Foundation is actively working on several cards and ATM’s. And in case you missed it, Emurgo has a project with Metaps which has launched an ADA card in the project.
Q: Will Cardano Foundation be setting up partnerships?
A: Cardano Foundation will aim to do partnerships with academic institutions for research (for example, in treasury research), with lobbying organizations with regards to the regulatory environment, with think tanks to study the space, and with private companies who are relevant for the overall development of the space. They have already set up partnerships with the Blockchain Federation in Switzerland and Crypto Valley.