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The Cardano 2026 Summit was canceled because a treasury funding proposal was not approved
BlockBeats News, May 31 — The Cardano Foundation announced that due to on-chain governance voting not reaching the required two-thirds support threshold, the Cardano 2026 Summit originally scheduled for this year has been officially canceled.
Previously, the Cardano Foundation submitted an adjusted proposal to request a transfer of 7.8 million ADA (approximately $2 million) from the treasury to fund the summit to be held in Singapore in October. Although the proposal received a 65.21% DRep staking support rate and the majority of representatives approved, it did not meet the 66.67% approval threshold required for treasury funding proposals.
Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard publicly called for support of the proposal before the voting deadline, but it ultimately did not pass.