IOG / IOHK over time

He asks no voters to reconsider and vote yes on Blockfrost becoming a not for profit community asset, since it leaves IO at year end regardless.

IO deliberately pivoted to a venture studio, so subsidized things like Catalyst and the legacy Blockfrost infrastructure are being shut down or spun out.

IO asked the treasury to fund the legacy infrastructure until it becomes profitable, but the voters chose not to.

Blockfrost is an IO venture acquired years ago when it was going to leave, run at a loss because Cardano's DeFi is not yet at Solana or Ethereum scale.

IO and ARC work on quantum resistance, the next generation of Ouroboros, and taking UTXO further with programs like Blaster.

IO is pivoting to the two things it does best, building ventures and doing research, moving core infrastructure to community or smaller companies.

IO has spent two years pushing to decentralize open source development, so the Haskell node is now the product of many companies.

He authenticated his Discord with a PGP signature tied to his Gmail and IOHK key, since AI bots cannot reproduce that authentication.

He is not going anywhere, and Input Output Group will continue to be one of the largest entities building in the ecosystem.

When IO acquired Nami it gave users a choice to keep their seed words or upgrade to Lace, the best practice, since force migrating changes the social contract.

IO has no power to freeze or reverse funds by design, because Cardano is a real cryptocurrency like Bitcoin with no intervention mechanics.

IO always errs on transparency, requesting independent third party reports from Emurgo, and will re-audit Lace and its own infrastructure in the age of AI.

IO is not Emurgo: it has no ownership or control, did not write the code, and cannot offer a remedy or take accountability.

supportive Clarifies IO is not Emurgo and had no role in the hack it is blamed for.

IO is exploring delegated authority through agents via the OWS standard for fundamentally more secure ways to interact with cryptocurrencies.

IO's small incident response team under Jerry Moroney has been in contact with Phil, and it looks like a hack that lost user funds.

Leios is the scaling solution for Cardano, taken over a year from an IOHK research paper to a prototype now entering the testnet.

IO has three commercial vehicles launching on Cardano: RealFi, Pogen, and the already launched Midnight.

Leios is the last major update under the old IO engineering, a capstone of ten years building a research lab and world class team.

IO aims to finish the testnet by November, but it cannot pull the hard fork lever, since the community and SPOs decide when to upgrade.

IO launched a new podcast, Block 45, with Lilly and Paul, whose inaugural episode is about Ouroboros Leios.

The governance debates proved IO is just one community member with no special rights, and his founder legacy no longer counts.

IO is not the enemy but now both an infrastructure and a consumer product company that will keep trying new things.

The new IO thinks like startup founders on two week sprints, not a government agency where every action takes weeks of bureaucracy.

Midnight City's own X account keeps being taken down for impersonation without explanation, so its team used the IO account instead.

Optimizing the company, IO removed those checks and downsized the account to about two people covering RealFi, Pogen, Midnight, and Blockfrost.

The IO Twitter account used to route every tweet through a long legal review pipeline, making it sterile and boring.

IO engineers worked follow the sun to ship Ouroboros Leios and solve the trilemma, then get told they failed because the ADA price is down.

supportive Defends IO engineers who shipped Leios but are blamed for ADA's price.

IO will write the beta code of conduct, run a hackathon for conversation tools, drip in members who sign it, and hire the first moderators.

Critics call this an IOG power grab, but the structure is ego less and any person can run and participate in it.

IOHK publicly disclosed its accounts in 2017 with a voluntary three year vest, and ada fell from 1.48 to 2.5 cents while some sold and some held.

Self proclaimed transparency heroes claim IO gave Gavin Wood 200 million dollars, though he last saw Gavin in person in June 2014.

RealFi is imminent, with John O'Connor having left IO to head the RealFi Foundation, bringing the developing world into the new paradigm.

The economic reality, not him, is driving good people out weekly, while a professional victim class attacks then cries when IO hits back.

The entities he created to endow power are dismissed as IO proxies while their allies are starved of funds, so no one can move forward in the miasma.

DReps to set egos aside and ask what the plan and incentives are, noting IO delivered the technology like Leios but strategy above it is missing.

As a diverse entrepreneur spanning synthetic biology, healthcare, and Input Output, he wants to address the Hoskinson Health news, having started as a computer science founder.

As the biggest firm with the most employees and influence, defunding IO is a repudiation of direction and an embrace of chaos with no plan to succeed.

The ecosystem punishes builders like JPEG Store, Book.io, TapTools, Midgard, SundaeSwap, IO, and Midnight, kicking people while they are down.

IO offers the last miles of decentralization as a service, and he dislikes subsisting on annual treasury fights that cost the company its soul and its people.

DReps to vote against IO if they see no value, insisting it is not a threat, and holds up a flash drive to argue you cannot expect a manufactured product for free.

The IO proposals will decentralize development so that within a year many companies build multiple implementations, with the Haskell node spun out of Input Output and Leios turned on.

Back from the UK on May 22 2026, he makes a final pitch for the Input Output voting proposals after X spaces and retail marketing, calling them the best transition for the ecosystem.

Says what you buy with IO is a team that shows up every day no matter how much it hurts, and unlike Washington he tells holders their voice and vote truly matter.

Some voted against these projects out of Twitter grievances or competition, which is fair, but he speaks for Input Output's vision and does not want Cardano to end 75 percent there.

A healthy community sometimes has the courage to let toxic people go, telling DReps to vote no on all IOG proposals if they see him as one of them.

The sovereign wealth fund would be up 332 percent by now, but Cardano Whale recused from debate, left, and auto-voted no on every IOG proposal on principle.

The vision was laid out after months of talks with IOG, Plutus, the Cardano Foundation, Emurgo, and builders, and the nine proposals cost half of the 2025 draw.

People want to blame someone as ADA fell from 1.10 to 25 cents, and IO takes the majority of blame as the largest, oldest entity regardless of involvement.

IO shares the wealth, noting Cardano got half of Midnight's supply out of deference despite an easier launch elsewhere, and future partner chains will be similar.

Immature people label everyone who works with IO as captured, but Cardano cannot be just the Input Output show, and it has decentralized more than any other ecosystem in three years.

supportive Rejects the label that Cardano is captured, crediting IO's decentralizing.

Restaking chases extra yield, and Sreeram's Minotaur paper with IO became EigenLayer, with KelpDAO a restaking protocol stacked on Lido.

Repeats the sovereign wealth fund was killed in governance bureaucracy nine months ago, and rejects being blamed for bullying Whale, who auto-voted against everything IO.

Input Output and the Midnight Foundation are not the enemy, and Midnight realizes the Cardano CL partner chain model from his 2016 Why Cardano paper.

IO ran the C Fund as the only major VC deploying 25 million in Cardano, and Midnight did not have to give 50 percent of the glacier drop to Cardano but did.

Cardano Whale used ChatGPT to falsely claim 100 million in ADA could not be sold without crashing the market, then weaponized his stake pool and DRep status against IO before leaving.

The consulting proposal had no deliverables and read as either incompetence or a bribe, so IO politely declined, and someone else's yes became Libra.

Nobody argues the other side because brand and marketing were never a priority of the foundation or Emurgo, IOHK stopped funding things like the Cardano Effect, and there has been no narrative control since 2021.

Everyone in the Pentad is at a loss, with the CF, Midnight Foundation, IOG, Emurgo, and Intersect facing out-of-pocket costs and multi-year liabilities, while IOG is not even a signer yet its leadership still expects reimbursement.

The Pentad is doing well, with the Intersect board visiting IO offices to discuss 2026 goals, and fruitful CCI negotiations on tier one bridges and stablecoins.

The Input Output engineers treat it as a passion, not a job, which is why they get defensive when their loved ones are attacked.

Input Output deliberately abstained from many governance votes in 2025 to let the community learn to self govern, and got blamed for the delays.

Input Output is restructuring internally into a single Cardano business unit to interface with the Pentad.

After the fork incident they created a Pentad of five entities: the Cardano Foundation, Emurgo, Input Output, the Midnight Foundation, and Intersect.

IO employee Roman resigned over the FBI decision, accepting people come and go and may end up on Star Stream or Midnight.

Recalls the fragmented IO, Emurgo, and Foundation Slacks of early Cardano and wants one curated engagement layer with selective disclosure aliases.

Credits IOG's high assurance engineering for one major bug in eight years, invoking the surviving planes survivorship fallacy.

IOG, the Cardano Foundation, Intersect, exchanges, and SPOs chose the more restrictive chicken chain over the faster pig chain to avoid a week of off chain wallet and explorer disruption.

Overnight IOG, the Cardano Foundation, Intersect, exchanges, and SPOs upgraded to the patch in a war room call fest.

The IO venture studio hub and spoke model, a Greece campus teaching startups, with spokes already in Abu Dhabi and Argentina.

The dream that a Python or C programmer could write a smart contract that auto translates, so IO spent over 19 million on the Yella VM.

Blames Emurgo for neglecting the builder pipeline and takes personal accountability for IO's failed seed fund.

critical Takes personal accountability for IO's failed seed fund.

IO does the blockchain to blockchain deals the CF will not, going to Near Protocol for Near intents and a path to Chainlink.

Recalls the Token 2049 takeover where the Wi-Fi code was Input Output and Joe Lubin had to walk past his booth.

The tech exists in pieces, BitVMX, BitVM, Sundial, and Bitcoin OS, and IO bet on BitVMX with a recursive snark to move Bitcoin to Cardano and back on mainnet.

Building second nodes before a stable roadmap and certification just slows Hydra and Leios delivery to reduce IO's influence.

CF board members collect large salaries with no financial upside, hedged in Bitcoin, and created Pragma and node diversity to break the IO monopoly.

Emurgo and IOHK created Intersect, community funded with a majority elected board, the product function, and the GitHub repos, but 600 million ADA stays trapped at the CF.

The new CF board is neutral to hostile, and Dirk's Linux Foundation deal barred IO from the product committee while letting unconnected companies run the roadmap.

The trifecta origin: IO took science, the Foundation took governance, and Emurgo took commercialization funded by the 72 million ADA sale.

IO must lead now, and Midnight transformed Cardano from a closed ecosystem into one making over 100 deals, to be listed on every major exchange.

IO took over Token 2049 with 27,000 people, the Wi-Fi password Input Output, and 20,000 booth visitors seeing Hydra and the roadmap.

IO's next build after Midnight, RealFi, and Quantum Hosky is a decentralized social network with epistemic hygiene tools.

The red line with the CF is their unelected, unaccountable board, and IO fights for the community's money, not Swiss control.

Within a few years there will be three to five active clients, and IO invests in the Haskell Foundation and Project Acropolis, a Rust microservice node.

IO runs a 24/7 follow the sun model for Leios on the Haskell node, reassigning or terminating anyone who resisted the effort.

The CF's deal barred IO and him personally from the open source project, forcing Emurgo and IO to create Intersect.

The Cardano Foundation was meant to be that members organization but chose the Linux Foundation and, after hiring Durk, barred IO from joining.

IO has asked more than a dozen times to join Pragma to push certification and interoperability, but has been refused.

IO paid for node diversity workshops, hired Pragma builders like Sundae and TxPipe, and uses Dolos in its Mithril full node for the Daedalus replacement.

Recalls the original plan of a technical and product steering committee at Intersect controlling the source code IO turned over.

Advises builders to find their ecosystem interfaces, Rafa at the CF, JJ at IO, Phil at Emurgo, and start small like a Twitter space, not a marriage proposal.

IO let go over 100 people in 2022 when its commercial team failed, some of whom founded Apex Fusion, and now needs an oracle for Midnight Cardano.

critical Admits IO let go over 100 people in 2022 when its commercial team failed.

IO is firing on all cylinders with Leios, Hydra, Plutus V4, StarStream, Midgard, partner chains, and a 19 person Bitcoin DeFi team under Omar.

Building products like the Glacier Drop, Midnight, and Lace gives IO the same lived developer experience as builders, aligning them with the community.

The 108,000 Bitcoin made him a made man, and IO money builds products and integrations that live on Cardano, not a Charles piggy bank.

IO commissioned a forensic audit of the ADA voucher program, with a website releasing the AVVM software, the original CF audit reports, and the 108,000 Bitcoin reconciliation addresses.

The audit report closes a 2015 to 2025 history covering the IO contracts, the sale software, and the ADA vouchers, a complete exoneration.

supportive Calls the audit of IO's 2015 to 2025 history a complete exoneration.

IO has no relationship with LinFi and praises JJ and Jack Briggs building the Argentina office with five events in three months.

Ethiopia's prime minister fumbled a 100 million person opportunity, so IO pivoted from African government contracts to microcredit via RealFi.

Chainlink integration stalls on priority not fees, since Sergey Nazarov is friendly but the business side sees Cardano's small DeFi, so IO looks at Pyth and Flare.

Clarifies Hydra and Laos are not at risk without treasury backing since he will do them anyway, but IO cannot work for free forever now that he has ceded the executive function.

Recounts meeting Dutch Prince Constantijn, a smart well read man keen on synthetic biology, alongside IO president Tamara Haasen, who spoke with him for two hours.

IO kept shipping through the governance churn on Ouroboros Leios, Plutus, Babel fees, Bitcoin DeFi, Ouroboros Peras, Midnight, Lace, and Reality, though the team is exhausted after seven months.

The 2025 budget is nearly done whether by one vote or 39, and IO will run an after action review to make the 2026 budget process better for everyone.

Executive function like roadmaps, KPIs, and budgets is now fragmented across Intersect, the Foundation, IO, and the community, and can be added back at the legislature's consent.

The report reveals the history of mom and dad, with IO and CF conflicts dating to 2016 emails, each story a permanent lesson for future governance.

Intersect is now members based, will have a community controlled board in 2025, and controls the Cardano node code that IO no longer owns.

Answers the moved goalpost about unclaimed ICO ADA funding another organization, noting the TGE entity funded the CF, IO, and Emurgo.

Private stablecoins are limited because there is no private smart contract, selective disclosure, or regtech framework, so IO will build an example on Midnight.

IO works with the BitVM2 and BitVMX teams to improve the scheme, with an operator set of Lightning, Hydra, the SPO net, BlockFrost's Iceberg, and MPC layered with TEEs.

Clarifies Bitcoin OS is Edan's separate project, while IO builds Bitcoin DeFi via Fairgate and BitVMX as a three layer stack.

IO offered to integrate RealUSD on Cardano for free because XRP DeFi matters, weighing a LayerZero style routing versus a direct issuance.

The best IO can do is write a CIP, spec, and prototype, since if other node builders reject a variant like Leios it could fork the network, turning a guarantee into a best effort.

In 2026 IO spins up a new media and social media team for journalists tired of the current system.

The silver lining is Cardano's decentralization, citing Fluid Tokens shipping Babel fees first and Sundial's Bitcoin bridge with no IO money.

Joel Telner discussed these things with the CF in Switzerland, and all IO asked for was one tweet.

IO had no legal obligation and could have recused itself like the CF did, but that would have left buyers unpaid.

IO tried to get the old CF leadership to take over redemption since it had audited the KYC and knew every buyer, but it declined.

Frames the ADA theft accusations as a Cardano brand issue, not an IO issue, since headlines say theft in Cardano and damage the ecosystem's high integrity reputation.

supportive Frames ADA theft accusations as a Cardano brand issue, not an IO one.

IO built compliance software for Attain while the CF verified Attain's KYC, all to be released in the audit report.

Opens from Argentina for the IO office opening, giving an update on ADA redemption and clarifying certain tweets.

Draws a line in the sand after 5 years working for free: for his employees, his business integrity, and self respect, this is what IO is and you decide if it is sufficient.

Input Output is a venture studio building his Gillette Wyoming clinic, anti aging products, glowing plants, and the dire wolves, all with an opportunity cost of time.

He sees duplicity when people tweet support but structurally guarantee IO works for free, and at this stage of life he has nothing left to prove.

Asks what a new developer is sold on choosing Cardano, and who the custodians of those USPs are, pointing to TXpipe, DC Spark, or Input Output.

Forcing vendors to work at a loss means nobody bids except crooks, recalling African bidders who lowballed 10000 then re-evaluated to a million to knock IO out.

As an ADA holder you have a front row seat and a voice, and IO's obligation is to tell you what it needs and participate in the process.

He is a vendor now communicating the price of IO's participation as an innovation and venture studio, not a time and materials shop, and you decide if the juice is worth the squeeze.

IO earnestly tried a decentralized product function with Intersect, but the same people complaining now complained about Intersect's bureaucracy, and it pushed CDC to fund a coalition so others can rise up.

The roadmap is never finished because scalability in 2025 differs from 2020, and IO has had no revenue for Cardano code since its TGE contracts expired in 2020.

An elite team long working uncompensated offers interoperability and scalability, and you are buying IO's presence, strategy, and fight for Cardano.

A larger NCL gives DREPs optionality in reconciliation to make multiple bets: an IO bet, a Pragma bet, a commercialization bet, against the 1.7 billion ADA treasury.

You are funding the IO vision, roughly 150 FTEs plus scientists, and has no interest in a bare time and materials developer proposal, since he will not work on things that fail.

The proposal reflects what IO thinks Cardano needs to stay competitive, and cleaning up the node also makes it easier for others to build competing nodes.

IO invented AVS with Minotaur, then others copied it with EigenLayer and Babylon, so if you do not move fast someone else captures the value.

IO would be conflicted out or asked to open audited financials, but the price is the price, like a concrete vendor who will not show you their books.

Asks who scores vendors when you already approved the IO roadmap, so an unrelated group would RFP to execute IO's own vision.

A dead man switch smart contract where a lapse in proof of life sweeps your funds to a trusted third party per your will, which IO is building into Lace premium.

IO had to backfill what the foundation never did, spending tens of millions integrating custodians like Copper, Fireblocks, and Zodia and getting native asset listings.

Rebuts the lie that IO is not working on Bitcoin DeFi, citing the Fairgate Alliance and a UPLC to RISC-V compiler so Aiken and Plutus compile to Bitcoin script.

IO walked away when Ethiopia broke its crypto promises, and the same team is now in Kenya deploying tens of thousands of loans that bring real world assets into Cardano.

Realfi does lending in Africa, and in Ethiopia IO followed every law with a Ministry of Education contract, built Atala Prism, gave it to Hyperledger, and was never paid.

IO pushed for the node diversity workshop and for Intersect and Pragma to form, and 2025 is a transition year with the constitution only approved in February.

Within 12 to 24 months there will be multiple clients and strong institutions, and IO left behind 1.7 billion ADA for the community to decide what to do.

IO was paid about 36 million in Bitcoin and 6 million in ADA a decade ago to build a cryptocurrency ecosystem through the Bitconnect, OneCoin, FTX, and Luna era.

Recounts warning everyone in December that the CF would cut IO's budget in half knowing it meant operating at a loss, then it did so and went to Japan to sell it.

Asks how this harms society when critics gave FTX and Luna a free pass, saying IO is the one that does not pay the bribes.

supportive Contrasts IO favorably with FTX and Luna, saying IO does not pay bribes.

Bitcoin's founder is unknown and its hash power is not mostly US, and despite hard trying IO never got clear answers on being in the meaningful policy rooms.

IO made meaningful attempts to reach the transition team about a crypto reserve, but nobody knew the plan, hearing first of an advisory council then of White House gatherings.

IO has a policy office led by Joel Telner with Cynthia, who was photographed with Bo Hines and engages the industry groups Perry and others lead.