- Cardano founder rejects treasury funding for token listings.
- Impacts ADA, SNEK, and Midnight projects.
- Emphasizes decentralized project funding within the ecosystem.
Charles Hoskinson, founder of Cardano, announced on X that Cardano’s treasury will not cover exchange listing fees for projects like SNEK and Midnight.
This decision highlights Hoskinson’s commitment to decentralized funding, requiring projects to self-finance, aligning with industry practices, and preserving Cardano’s treasury for protocol development.
Charles Hoskinson, founder of Cardano, announced that the Cardano treasury will not cover listing fees for projects like SNEK and Midnight. This decision reflects a commitment to decentralized funding within the Cardano ecosystem.
Hoskinson’s statement clarifies that no funds from the treasury will support listing fees. He suggested a bond structure to repay the treasury with interest, emphasizing sustainability in project funding efforts.
Hoskinson’s stance maintains the integrity of Cardano’s treasury, ensuring funds remain for development rather than exchange fees. This aligns with practices of other blockchain foundations, favoring autonomous funding models for decentralized projects.
The financial implications mean SNEK and other projects must source funds independently. This move supports long-term sustainability of the ADA token and Cardano’s broader ecosystem, preserving on-chain resources for future advancements.
Cardano’s decision may strengthen market confidence, promoting sustainable governance. Project leaders will explore alternative funding models or community-driven approaches to finance exchange listings.
Historically, blockchain projects have adopted self-funding practices, avoiding treasury dependence. This decision reinforces Cardano’s dedication to a decentralized and transparent financial ecosystem, potentially influencing future technological developments in the space.
Charles Hoskinson, Founder, Cardano, – “I support and like the SNEK community, but no one is getting listing fees (including midnight) covered by the treasury” – source
