ADA Holders Just Voted to Cancel the Cardano Summit Proposal, Self-Sabotage?

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The blockchain space is broad and complex, but leading networks such as Cardano are navigating this dynamic sector. The network is witnessing one of its most significant moments this year as its connectivity to other chains notably improves, allowing for seamless operations for users. A Path For Cardano To Become Fully Connected Multi-Chain Following several […]

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Cardano's Voltaire-era delegated representatives rejected the Cardano Foundation's 7.8 million ADA treasury ask for the 2026 Singapore Summit, with yes votes drawing 65.21% of stake — 1.46 percentage points below the two-thirds threshold.

The post Cardano Summit 2026 Cancelled After Community Vote Rejects Treasury Proposal appeared on BitcoinEthereumNews.com. The Cardano Foundation has cancelled its annual Summit, which it had scheduled for Oct. 5–6 in Singapore. The Cardano (ADA) community stakeholders voted against funding the event from the network’s treasury. The rejected proposal had requested 7.8 million ADA to cover the cost of the two-day event. This amount equals roughly $1.83 million. The vote outcome reflects Cardano’s on-chain governance model, under which treasury expenditures require community approval before funds are released. Community Skepticism Sinks the Budget Even a revised version of the proposal, which had already reduced the original ask by 22%, failed to win over enough delegates. Critics pointed to a significant gap between projected revenues and costs. The event’s gross budget stood at $2.26 million against a revenue target of just $450,000, leaving the treasury to cover the bulk of expenses.

The post Cardano Summit 2026 Canceled After Treasury Vote Falls Short appeared on BitcoinEthereumNews.com. The revised proposal sought 7.8 million ADA, worth approximately $2 million, to host the event in Singapore, but secured only 65.21% support. Although a majority of delegates voted in favor and the Constitutional Committee approved the measure, Cardano’s governance rules prevented it from passing. After the vote, the Foundation confirmed it would respect the community’s decision and discontinue plans for the summit. Cardano Summit Scrapped The Cardano community voted against funding the proposed Cardano Summit 2026 from the network’s treasury. This led to the cancellation of the event despite majority support from participating delegates.  The Cardano Foundation confirmed that the summit would not take place after a treasury funding proposal failed to secure the required supermajority of delegated representative (DRep) stake. Voting concluded on May 29, with the revised proposal r

The post Cardano Summit canceled after 7.8M ADA treasury proposal falls short appeared on BitcoinEthereumNews.com. The Cardano Foundation has canceled its October summit after a proposal seeking 7.8 million ADA, worth about $1.84 million, failed to secure the two-thirds approval required from the network’s governance community. Summary Cardano’s governance community rejected a 7.8 million ADA funding proposal, leading to the cancellation of the Cardano Summit in Singapore. The vote fell just short of the required two-thirds threshold despite 65.2% support, extending a dispute over treasury spending and governance priorities. EMURGO secured approval for Cardano’s participation at TOKEN2049, where Charles Hoskinson is exploring the possibility of hosting a smaller community summit. In a statement posted on X after voting closed on Friday, the Cardano Foundation said the community had made its decision and that it would respect the outcome.  Although 65.2% of votes supported the proposal,

The Cardano Foundation has canceled its October summit after a proposal seeking 7.8 million ADA, worth about $1.84 million, failed to secure the two-thirds approval required from the network’s governance community. In a statement posted on X after voting closed…