As discussions around Cardano’s ADA redemption voucher are taking a new turn. Prominent figures from the Cardano startup ecosystem are stepping in to clarify misinformation. Michael Yagi, CEO of Ikigai Technologies, and Daniel Friedman, Founder & CEO of zenGate Global, have both addressed this issue. They defended the integrity of the redemption process. Their insights not only correct misconceptions but also highlight the challenges Cardano entrepreneurs face due to persistent FUD (Fear, Uncertainty, Doubt). Let’s get into detailed info to understand the entrepreneur’s concern.
Redemption Voucher Process Was Transparent
Michael Yagi emphasized that while he wasn’t directly involved in the voucher process. Those truly investigating the matter should have easily found the facts. According to Yagi, Input Output Global (IOG), the organization behind Cardano. This went above and beyond to ensure all participants could access and complete their ADA claim process.
He clarified that the ADA redemption voucher worked similarly to a digital gift card. Yagi said, “From what I’ve been told, it was one-time use, very much like a Robux gift card,”. These vouchers were never meant to provide access to a private key or wallet. They were simply codes used to redeem ADA tokens through the official wallet, Daedalus. This process was explained clearly at the time. Hence, any assumptions show a major oversight due to false claims.
FUD Affects the Whole Cardano Ecosystem
Yagi also voiced frustration over how misinformation damages not just reputations but the broader Cardano startup ecosystem. As a Cardano entrepreneur, he shared that building a company on this blockchain comes with additional responsibilities. It’s like defending against FUD that is often beyond the founder’s control.
He added, “It’s damaging to founders like us. I wish people would realise FUD affects more than just the personal beef people may have. It impacts trust in our platforms, discourages new users, and distracts us from focusing on innovation.”
The ripple effect of this negativity slows down progress, especially for early-stage startups trying to gain traction in a competitive market.
Misinterpretation of Japanese Text Fuels False Claims
Daniel Friedman, supporting Yagi’s perspective, directly called out those circulating an image suggesting that resale participants received private keys. He explained that the Japanese text in the image does not reference private keys at all. Instead, it mentions the issuance of an “ADA redemption code,”. Which is exactly what was needed to complete the ADA claim process.
Friedman said, “My suggestion is to learn some Japanese before you embarrass yourself.” He stated that this continued misinterpretation shows confirmation bias and willful ignorance, not objective criticism. According to Friedman, people spreading these claims have repeatedly shifted their narratives. Therefore, showing a lack of genuine intent to understand or report the facts.
Cardano Entrepreneurs Demand Accurate Representation
Yagi and Friedman’s responses call for a more responsible conversation around Cardano-related developments. They believe focus should return to building and improving the ecosystem instead of engaging in baseless accusations.
Yagi concluded, “We’re not just building products, we’re also stuck explaining things outside our expertise just to protect the ecosystem’s credibility. That takes time away from innovation.” His message serves as a reminder that Cardano entrepreneurs deserve support and fair treatment. In a space where FUD affects progress, clarity and truth are essential. With ongoing legal processes expected to shed more light soon. The community must avoid jumping to conclusions and instead focus on verifiable facts.
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