Cardano Summit 2026 Plan Scrapped After Treasury Vote Falls Short of Two-Thirds Threshold

The Cardano Foundation said its plan to hold Cardano Summit 2026 was scrapped after an on-chain vote rejected its request for 7.8 million ADA in funding from the Cardano Treasury.

Cardano Summit 2026 Plan Scrapped After Treasury Vote Falls Short of Two-Thirds Threshold. The Cardano Foundation said its plan to hold Cardano Summit 2026 was scrapped after an on-chain vote rejected its request for 7.8 million ADA in funding from the Cardano Treasury. The treasury spending proposal drew 65.21% support by delegated representative (DRep) stake, failing to meet the more-than-66.67% approval required for passage. The proposal failed even after the foundation reduced the original 14.07 million ADA budget, cut the budget by more than 20%, and added conditions including an external audit, phased fund disbursement, and an independent oversight committee. The Block reported on June 31 that the foundation wrote in an X post the previous day that it would respect the community's decision and stop preparations for the summit. The f...