Cardano’s (CRYPTO: ADA) community voted down funding for the Cardano Summit 2026, with the proposal falling short of the required two-thirds supermajority and sending ADA down 3%.
Proposal Got 65% Support But Needed 66.67% To Pass
The Cardano Foundation proposed a two-day summit in Singapore on October 5-6, seeking 7.8 million ADA worth roughly $2 million from the network treasury.
Yes votes came in at 65.21% of participating delegated representative stake, just 1.46 percentage points short of the 66.67% supermajority treasury withdrawals required.
By headcount the vote was actually a majority, 135 in favor against 61 opposed with 24 abstaining.
However, Cardano’s governance rules require roughly two-thirds of DRep stake, not just a simple majority, for treasury actions to pass. The Constitutional Committee approved the request but that was not enough to save it.
Cardano …
