Cardano founder Charles Hoskinson ignited an open dispute with major ecosystem entities such as the Cardano Foundation and Emurgo, questioning the efficiency of their spending. The trigger for the discussion was a request to allocate 14 million ADA worth around $3,3 million from the treasury to host the annual Cardano Summit and participate in a conference in Singapore.
While ADA is struggling to hold key price levels, Hoskinson directly stated that “parties” will not save the price — infrastructure will.
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For the cost of this proposal, it is possible to maintain up to six permanent offices worldwide that would operate like a hub in Buenos Aires, Hoskinson emphasized. In his view, only a “living” presence across different parts of the world proves to markets that the Cardano network is thriving, while attending parties delivers only short-term media impact.
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As part of the new strategy, the treasury must stop issuing “free grants.” Funded projects would return up to 30% of capital back to the treasury, which would then use the proceeds to buy ADA from the market, creating natural buy pressure.
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As of April, opinions are divided. Skeptics argue that coworking spaces will not lift the price in the short term, as investors are primarily driven by price action, not offices.
Supporters of Hoskinson believe that abandoning expensive conferences in favor of real development is the only way to survive amid intense competition with Solana and Ethereum.
At the moment, ADA is frozen in anticipation as delegates prepare to vote on the 14 million ADA budget.
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