CryptoWorld News reports that the Cardano Foundation announced the cancellation of the 2026 Summit because a funding proposal failed to secure the two-thirds majority support required by the new blockchain governance system. The proposal sought millions of ADA for annual events; although it received support from the majority of representatives, it still did not meet the requirement. Meanwhile, the proposal submitted by Emurgo to allocate 3.3 million ADA for the Token2049 Singapore event has been approved. This is an important practice of the governance system in the Cardano Voltaire era, where representatives’ votes determine funding proposals and protocol matters.

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RetroRadioEcho
· 9h ago
The summit is gone, Singapore went, and the community chose to vote with their feet—or rather, with their votes.
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TvlTeaTime
· 12h ago
New governance system: majority support is acceptable, but it won’t work unless it achieves a supermajority—this design is quite hardcore.
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GateUser-de0b9e3b
· 12h ago
Emurgo's proposal passed, but the foundation's own didn't, this plot is a bit subtle.
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GovernanceGremlin
· 12h ago
Millions of ADA hosting the summit, it's normal for voters to hesitate during a bear market.
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BluePeonyInTheDark
· 12h ago
The first major test of the Voltaire era, where the trade-offs between funds and activities revealed disagreements over priorities.
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Miner'sHelmetUnderTheMoonlight
· 12h ago
Does Token2049's success indicate that the community values international exposure more? This comparison is quite interesting.
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GateUser-c25a653c
· 12h ago
It's a pity that the summit was canceled, but governance rules are rules, and the two-thirds threshold is indeed strict.
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