Cardano Summit 2026 Canceled as Treasury Vote Falls Short of 66.67% Threshold

ADA-1.98%
On May 29, the Cardano community rejected a treasury funding proposal for Cardano Summit 2026, scheduled for October 5-6 in Singapore. The revised proposal requested 7.8 million ADA, valued at approximately $2 million. Although 135 delegates voted in favor and 61 against (with 24 abstaining), the proposal secured only 65.21% support—falling short of the 66.67% supermajority required for Cardano treasury withdrawals. The Cardano Foundation confirmed it would respect the community's decision and wind down summit plans.
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