IOTA founder David Sønstebø broke his silence about his departure on December 26th.
Sønstebø has published a statement on Medium. In the mail, he gave his side of the story and left public messages for the remaining board members of the IOTA Foundation.
For the public, IOTA was moving in a positive direction at the end of 2020. In December, IOTA formed a partnership regarding ecological sustainability solutions. On November 30th, the platform announced its next generation wallet, Firefly. In addition, the public IOTA 1.5 test network called Chrysalis went live. The tension grew behind the scenes.
Close at the beginning
The first official indication that something was wrong came in the form of a short post on the IOTA Foundation (IF) blog. In the post, the board of directors and the supervisory board stated that their interests and those of Sønstebø “diverged significantly”. They thanked him for founding the company they led and wished him entrepreneurial success.
However, an addendum appeared on the blog on December 12th. The foundation reminded readers that “IOTA is not about a single person”. At the same time, the foundation emphasized the role David Sønstebø played in establishing and first building the solution. They also wrote that his departure “changes absolutely nothing” about the strategy and execution of Chrysalis and Coordicide.
Answer from Sønstebø
On December 26th, Sønstebø published his version of what happened to his departure. He first explains that he was initially silent so that the publication of Chrysalis can continue.
Sønstebø claims that what prompted him to write his article was the IOTA Foundation’s avoidable mess. His departure, he writes, could have been coordinated between him and IF in order to suppress casual talk.
Rather than recording a tit-for-tat type of attack, Sønstebø points out three salient features of the development of the project that led to its dissolution. He focuses on project maturity and the need for a separate CEO / COO. Then he focuses on finances (especially 2020) and his repeated proposal to dissolve the foundation in order to keep the IOTA project itself independent of markets. He also emphasizes that the liquidation proposal was not due to financial problems at the IOTA Foundation. Most recently, he describes a panicked board of directors who are losing sight of a potential benefit – the creation of new services. From his point of view as the founder, they never had this understanding from the start.
Farewell dear and not
After explaining his side of the story, Sønstebø has parting words for each member of the board of directors and supervisory board. For some he has fond memories, for others a devastating criticism. And on the one hand: “And then S #! T happened.”
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