In his latest livestream , Charles Hoskinson, founder of Cardano (ADA) and CEO of Input Output Global (IOG), laid out a vision for the blockchain network’s governance, institutional structures, and strategic milestones leading into 2025. Over the course of a lengthy and candid address, Hoskinson wove together Cardano’s past governance efforts, current institutional frictions, and forthcoming priorities, repeatedly underscoring the imperative of decentralization, open participation, and active global engagement.
Hoskinson opened by reflecting on the Constitutional Convention that recently concluded—a multi-year endeavor designed to forge a new governance framework for Cardano. “As many of you saw from the output of the Constitutional Convention, that was the culmination of two years of effort around the world,” he said. This global process encompassed “hundreds of workshops, thousands of people in more than 50 countries,” culminating in a draft constitution approved by 95% of the 50 elected delegates and their alternates.
He highlighted the truly international nature of this initiative, stating: “These people come from different parts of the world: Africa, South America, Australia, New Zealand, Asia, Europe, and North America—all six continents. We tried to find someone from Antarctica, but we just couldn’t send the short notice.” For Hoskinson, seeing the ecosystem converge on a unified document, however imperfect, was “one of the proudest moments of my professional career.”
Hoskinson’s Plan For Cardano In 2025
Looking ahead to 2025, Hoskinson underscored the challenges that remain. Cardano’s next milestone involves realizing true decentralized governance. “We have some challenges, and those challenges are going to be that we have to fully decentralize the governance of Cardano,” he said. The tension lies between Hoskinson’s vision of “members-based institutions and on-chain governance” and voices advocating for a more protracted transition period under controlled institutions. He stressed: “Others feel that there needs to be a longer transition period and there needs to be institutions […] that are not subject to the democratic whims and will of the ecosystem.”
By contrast, Hoskinson has long stood for a system built from the ground up. He made clear his foundational principle: “I always believed that the key is to build members-based institutions and on-chain governance, get them working well together, and make sure that all of the roles of significance are elected and constrain them by the rule of law—algorithmic law first and foremost […] because that is the strongest—and constitutional law second.”
Rewinding to Cardano’s origins, Hoskinson took responsibility for certain structural shortcomings in governance. “All of the governance failures that we see today are indirectly or directly my fault,” he admitted, acknowledging that initial designs—like the early tripartite arrangement among IOG, Emurgo, and the Cardano Foundation—were conceived before the full complexity of governance was fully understood. “I was young and I didn’t fully appreciate or understand how complicated and serpentine and…difficult governance can be.”
Still, the founder underscored Cardano’s enduring technical achievements: “We aggregated one of the largest groups of scientists, formal methods engineers, and software engineers in the history of our industry. We’ve written hundreds of papers, we’ve written millions of lines of code, and we’ve built something that truly stands the test of time.” Over seven years, Cardano has run continuously “under constant attack, technological and social,” proving its resilience and capacity for long-term stability.
Overall, Hoskinson outlined three clear governance priorities for 2025. The first one is the on-chain ratification of the constitution. The community-ratified constitution must be integrated into Cardano’s onchain governance framework. “We have to get the Constitution ratified on-chain. That’s the first one,” he said.
Second comes the transition to an annual budget process. With a large treasury at its disposal—“nearly two billion dollars”—Cardano can move beyond ad hoc funding (e.g., Project Catalyst) to a stable, annual budgeting model. “All we got to do is […] make sure no one’s left behind,” Hoskinson explained, “so many of you are working for free right now […] we need to get to an annual budget process.”
Third is the election of the Constitutional Committee. The current constitutional committee is interim and will be replaced in 2025 by community-elected officials. “I’ve already said that Input Output will not run for election,” he stated, ensuring no single founding entity can dominate the process. The ultimate goal: “It’s important that the community be able to step up and flex its muscles and be in complete control.”
Beyond Cardano
Hoskinson also emphasized the importance of engaging with global crypto industry stakeholders and regulators. “I’m going to have to work with industry as a whole,” he said, mentioning outreach to figures like Brad Garlinghouse from Ripple and noting that he was “fully prepared and willing to work with pretty much anyone […] I don’t really care what they said and did in the past.”
He highlighted the geopolitical realities shaping crypto policy, noting that entities like a16z, Coinbase, ConsenSys, and BlackRock “are going to have an enormous amount of influence over crypto policy.” Hoskinson’s stance: Cardano must ensure it is not “excluded” and must seek partnerships where possible. “If they choose to exclude Cardano, it’s going to be very difficult for us as an ecosystem,” he warned.
A unique aspect of Cardano’s governance efforts has been direct community participation through workshops. “We should run five workshop streams every single year across the world and grow from 50 to 100 countries,” he proposed. This global dialogue, costing perhaps “5 to 10 million per year,” would be well within the network’s means. “When we have a nearly $2 billion treasury […] maybe just maybe we as an ecosystem could find the resources to do that.”
Hoskinson did not shy away from predicting turbulence in the coming year. “2025 is going to have drama, it’s going to have chaos, it’s going to have problems,” he said. Yet he maintained optimism that through debate, inclusion, and democratic processes, Cardano will achieve lasting decentralization and influence.
“We are this close to greatness,” Hoskinson insisted. With CIP-1694’s full activation, the introduction of delegation representatives (DReps), and a large treasury to fuel innovation, “Cardano will get where it needs to go.” He urged the community to “judge us not by what we say, but by what we do,” and reiterated his personal commitment: “I care about Cardano more than pretty much anything in my entire life.”
At press time, ADA traded at $1.08.