What are the Cardano Foundation's Finances?

English General Discussions
1

Hello Community,
Does anyone know ? We have heard that CF had to get their books in order:

  • How much cash does CF have on hand?
  • How much ada does CF have on hand?
  • What is CF monthly cash run rate?
  • What is CF monthly ADA run rate?
  • How much has CF spent (cash and ada) in 2020?
  • How much has CF spent (cash and ada) in 2019?
  • Did PwC get paid from CF? If yes, how much did that cost?
  • What avenues is CF using for funding (this may be answered by questions above)?
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2

“We have heard” or I have heard?
Are you a member of the Cardano Ambassadors or have you been passed over due to a lack of technical skills needed to move the project forward. I followed you for awhile but got weary of having articles read to me although I admire your efforts it is your current state of sincerity I am suspicious of.

Please be more fully disclosed regarding your possible brief tenure in the ambassador program or non acceptance into it.

There are enough hidden agendas in the crypto space.

3

Very direct, unpleasant question but totally in place. After all it is the Cardano community’s money. Waiting to see CF open up transparently.

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4

What does being a Cardano Ambassador have to do with any of this?

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5

No responses

6

Hi all. We are aware and working on a response.

Thank you for the patience in the meantime.

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7

Thank you Andy!

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8

Hi Kenny (@The_Cryptoviser),

Thank you for your questions and for waiting patiently. Happy Third Cardano Anniversary! Last year, we were glad to meet you in person in Plovdiv, Bulgaria, for Cardano’s second anniversary and hopefully it gave you a firsthand insight of how we operate.

Most importantly, our books are in order and we have successfully passed our annual audit by Grant Thornton, one of the world’s largest and most trusted auditors. We are not a public or listed company, but a highly-regulated entity overseen by the Federal Supervisory Authority for Foundations (Eidgenössische Stiftungsaufsicht), a Swiss state regulator.

Our funding sources and budgetary plans are sustainable and agile. We are on incredibly strong footing financially and keen to be transparent to our community whenever possible and reasonable. Accordingly, we are working on various projects in this regard.

We have a transparent approach to ada delegation and staking, and our delegation criteria will be published very soon. In short, we delegate to community-led stake pools that meet the criteria. Please stay tuned for more details.

Another strategic focus with corresponding budget relevance is to strengthen and interlink our talent portfolio ahead of the smart contracts rollout as we are preparing for Cardano’s enterprise adoption and integration. This is precisely why all three entities—the Cardano Foundation, EMURGO and IOHK—gathered at the PwC design shop to align on the future of Cardano.

Switzerland is one of the most trusted jurisdictions in the world in which to launch a foundation, and also one of the highest in terms of transparency and accountability.

Thank you for your questions. We will inform you about various innovations and strategic topics in the coming weeks and hope that our progress, current focus, and future outlook speaks for itself in this regard.

Best wishes,

The Cardano Foundation

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