Cardano founder Charles Hoskinson has initiated a broad governance review spanning more than 11,000 decentralized autonomous organizations (DAOs) and a decade of crypto research. The review will examine executive functions, roadmap control, and strategy-setting across different governance models. Hoskinson said the goal is to propose new features for Cardano's governance under the upcoming constitution and new technology. He also signaled that he may become a delegate representative (dRep) and host a mini-convention ahead of the 2027 constitutional process.
81% of Active Stake Rejects 33 Million ADA Research Proposal
The review comes amid heated debate over a 33 million ADA (~$11 million) proposal to fund Input Output Global's (IOG) research lab for another year. As of May 22, 81% of active staked ADA voted against it. Some dReps demanded clearer milestones and an open request-for-proposals process rather than a direct renewal for IOG. The vote runs through June 8, making Cardano's research budget the flashpoint of its on-chain governance system.
Hoskinson Defends 'Science Coin' Identity as Lab Faces Closure Risk
Hoskinson has argued that Cardano's identity depends on its science-based approach. He warned that researchers may leave and the lab could face closure if the funding fails. “Cardano is the science coin,” he said, defending the research model. Critics, meanwhile, call for more direct support for products that attract users and liquidity, including DeFi tools, bridges, rollups, and privacy features. The clash reveals tension between foundational research and product delivery.
Chain Revenue Below $600 Adds Pressure to Treasury Debate
DefiLlama data shows Cardano's 24-hour chain revenue at just $517, with $2,583 in chain fees and $1.83 million in DEX volume. ADA's market cap stands around $9.08 billion. The meager on-chain revenue makes treasury spending a more public issue. Supporters of tighter budgets want measurable outcomes from treasury funds, while research proponents insist deep technical work remains core to Cardano. Hoskinson's DAO review shifts the discussion beyond a single vote, aiming to shape long-term governance design—including how roadmaps, budget control, and developer-voter conflicts are handled. For now, the June 8 vote is the near-term test for the network's treasury process.