Charles Hoskinson just stirred up fresh talk about crypto governance, claiming Cardano now hosts the biggest DAO (Decentralized Autonomous Organization) in the crypto space. On a recent live broadcast, he highlighted how ADA holders get to vote on network choices and help decide where treasury funds go.
Hoskinson says Cardano now runs the biggest DAO in crypto, at least when you look at how many people actually vote. According to devs, the treasury holds about 1.65 billion ADA (around $429 million), and the community gets to vote on how it’s spent.
The treasury keeps growing thanks to a cut of transaction fees and block rewards, basically a long-term fund to keep building and innovating in the ecosystem.
Hoskinson’s claim ties back to Cardano entering its final development phase, the Voltaire governance era. Under this setup, ADA holders can put forward governance ideas, the community votes on upgrades and spending proposals, and treasury funds get directed to new projects by vote.
https://coinedition.com/charles-hoskinson-says-cardano-now-hosts-the-worlds-largest-dao/
Posted by minibuddy0
3 Comments
tldr; Charles Hoskinson claims that Cardano now operates the largest Decentralized Autonomous Organization (DAO) in the crypto industry. ADA holders participate in governance by voting on network decisions and treasury fund allocations. The treasury, funded by transaction fees and block rewards, holds approximately 1.65 billion ADA ($429 million). This governance model is part of Cardano’s Voltaire phase, enabling community-driven upgrades and projects. Critics, however, question its real-world impact and on-chain activity compared to competitors like Ethereum and Solana.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
DAOs are still relevant?
I just want to get my money back. Bought at ATH 😭