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Deep Tide TechFlow News, May 31, according to The Block, the Cardano Foundation confirmed that because the on-chain treasury funding proposal did not reach the required 66.67% supermajority threshold for approval, the Cardano Summit 2026 will not be held this year.
The revised proposal requested a funding of 7.8 million ADA, approximately $2 million, and ultimately received 65.21% of DRep staking support, which was not approved.
The summit was originally scheduled to be held in Singapore from October 5 to 6.
Additionally, it was reported that EMURGO's standalone TOKEN2049 sponsorship proposal was approved.