Cardano founder looks to ADA at $3 to $10 in major breakout

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Cardano founder looks to ADA at $3 to $10 in major breakout

Charles Hoskinson, the creator of Cardano, warned that a decade-long blockchain experiment in decentralized governance could falter unless its holders agree on a 'package' budget that keeps his company, Input Output Global (IOG), at the center of the next growth phase of the protocol - a phase he believes could drive ADA to between $3 and $10.

During a live stream over the weekend, the founder, whose voice sounded hoarse, told viewers he had 'drawn the line' after spending the last five years 'working for free' on Cardano-Core code. The live stream followed a heated debate over a temporary budget funded by the treasury, which must be approved by elected delegate representatives (DReps) before the first fiscal year of the on-chain network ends.

Hoskinson said: 'We say, $50, $60, $70 million, and the ecosystem could triple or quadruple in size. We could see $3, $5, or $10.'

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Hoskinson argued that Cardano can only maintain its significance if the community supports a cohesive engineering roadmap, rather than picking specific items to cut costs. The proposed document - which has already been supported by a majority of DRep representatives in principle - backs nearly 150 full-time engineers from IOG and dozens of research scientists.

This project funds work on new scalability fundamentals, such as state channels, rollups, and new versions of Leios, alongside ongoing investment in the lightweight client Mithril system, privacy-preserving partner chains, and interoperability tools that Hoskinson sees as crucial for attracting developers and achieving overall value. He stated: 'You are funding IOG's vision. You are getting my time, my company's time, and our strategy. The price is the price.'

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IOG, which wrote every line of the original Cardano codebase, stopped receiving any revenue linked to the 2015 token generation event when those contracts expired in 2020. Since then, the company has funded protocol upgrades and infrastructure for the market bridge 'out of its own pocket,' Hoskinson said, including tens of millions of dollars to list native Cardano assets with custodians and exchanges.

Cardano's treasury has limits

The Cardano wallet on-chain now holds about 1.7 billion ADA. In February, 72% of voting wallets agreed to a maximum net change, which sets the upcoming settlement at 350 million ADA. Hoskinson praised this barrier but reminded coin holders that it is up to DRep representatives to determine whether IOG's request represents value.

Related reading: Cardano price could rise by 300% from here if it breaks this level

He likened the current battle to building a smartphone 'by committee': 'You have a camera, a CPU, memory, antennas... Can you imagine how hard it is to build a phone by committee? You'll never create a competitive product.'

If DRep representatives vote against the package or only fund fragmented parts, IOG will begin to 'withdraw responsibly' after completing the Leios upgrade, reallocating engineers to other projects - including Midnight, a privacy-focused partner chain that Hoskinson believes will attract 'millions of users' and make Cardano the 'largest AVS system' in the crypto world. He admitted: 'The vendor can be let go,' but warned that reducing the core team risks losing one of the 'finest engineering and research teams in the world of cryptocurrency.'

Hoskinson rejected accusations that the proposal contradicts Cardano's principles of decentralization. He stated that decentralization does not mean the absence of leadership; it means the right to appoint - and dismiss - stewards on a shared vision for the product. He added: 'There is no contradiction in hiring someone in a decentralized system to steward your vision and product for a defined period of time.'

However, he acknowledged frustration over what he called the 'political capital deficit' of the ecosystem, urging delegates to move from social media attacks to concrete budget decisions: 'Twitter is not reality... Let's build the budget, vote yes or no, and move forward.'

As the settlement window opens, ADA shareholders face a tough choice: either keep IOG as a strategic manager at the declared cost or redirect treasury funds to new investment groups like Pragma, TXPipe, or DC Spark, accepting the risks of slower and more fragmented development. Hoskinson framed the decision in stark economic terms:

I am not Elon Musk asking for a $50 billion salary. I am simply saying I want you to cover my engineers' expenses and leave us a tiny profit... If you like that, vote yes. If you don't, vote no, then choose someone else to do it.

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At the time of this report, ADA was trading at $0.71.$BNB $ADA