As a researcher following the Cardano project, I’ve learned that Charles Hoskinson has announced a major study. We’re looking at around 11,000 different DAOs to help restructure Cardano’s core principles – what they call the Constitution – with a goal of completing this by 2027. This move comes after a period of slow growth in the blockchain space and, frankly, pressure from developers. They’ve asked for a shift in funding, wanting us to prioritize building practical DeFi applications over long-term, fundamental research.
By late May 2026, Cardano was facing a major disagreement about its direction – whether to stay true to its research-focused roots or prioritize commercial applications. This tension was evident in a conversation between Charles Hoskinson and developer Andrew Westberg.
Inside Cardano’s governance crisis
Many in the tech community are pushing for a shift in how research funding is allocated. They want to move away from broadly funding long-term, basic scientific research that doesn’t have an immediate impact on the market. Instead, they’re advocating for focused investment in projects nearing commercial release, such as infrastructure like bridges, rollups, and privacy-enhancing technologies.
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Hoskinson believes that stopping fundamental scientific research would eliminate what makes Cardano special. He argues that Cardano’s unique EUTXO design means it can’t simply use existing solutions, and reducing funding would cause the network to lose its top researchers, leaving it at risk.
I’m undertaking a thorough review of over 11,000 decentralized autonomous organizations (DAOs) and ten years of relevant research to better understand how they operate, plan, and set strategy. Ultimately, I aim to suggest new features for Cardano’s governance system, potentially through updates to the constitution.
— Charles Hoskinson (@IOHK_Charles) May 23, 2026
Cardano is facing economic challenges as its growth has slowed, intensifying disagreements between its leaders and developers. Despite a significant market value of $9.08 billion, the amount of money invested in its decentralized finance (DeFi) applications is relatively low at $129.01 million, and the blockchain generates only $517 in revenue each day, according to DefiLlama.
As I’m watching things unfold, Charles Hoskinson’s biggest hurdle right now is keeping the project’s value stable. The vote on spending 33 million ADA from our reserves – which continues until June 8th – has become quite contentious. Essentially, the people who help secure the network are frustrated with the current returns and are pushing leadership for concrete results, not just future promises.
Hoskinson’s initiative to research 11,000 DAOs is a strategic move to stabilize Cardano. He aims to appease developers by exploring new governance methods, while also maintaining the project’s research-focused approach until innovations like integrating Bitcoin with decentralized finance start generating tangible economic benefits.
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2026-05-24 13:25