Cardano 2026 Summit Canceled Due to Treasury Funding Proposal Rejection

05/31 16:05

On May 31, the Cardano Foundation announced that the Cardano 2026 Summit, originally scheduled for this year, has been officially canceled due to the on-chain governance vote failing to reach the required two-thirds support threshold. Previously, the Cardano Foundation submitted a revised proposal requesting the allocation of 7.8 million ADA (approximately 2 million USD) from the treasury to fund the summit set to take place in October in Singapore. Although the proposal received a 65.21% support rate from DRep stakers and a majority of representatives in favor, it did not meet the 66.67% approval threshold required for treasury funding proposals.
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