{"id":97632,"date":"2026-06-02T07:03:03","date_gmt":"2026-06-02T07:03:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=97632"},"modified":"2026-06-02T07:03:03","modified_gmt":"2026-06-02T07:03:03","slug":"cardano-conference-scrapped-as-community-rejects-funding-proposal","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=97632","title":{"rendered":"Cardano Conference Scrapped As Community Rejects Funding Proposal"},"content":{"rendered":"
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The Cardano network has generated just $356,400 in transaction fees so far in 2026 \u2014 a sharp drop from the $8.35 million it recorded four years ago.<\/p>\n

That financial backdrop loomed large over the weekend when the Cardano Foundation announced<\/a> it was canceling its annual Cardano Summit after failing to secure community approval for the second time.<\/p>\n

A Narrow Miss On The Ballot<\/h2>\n

The foundation\u2019s revised proposal asked for 7.8 million ADA tokens, valued at roughly $1.84 million, to fund the Singapore event. Voting closed Friday, and 65.2% of votes were cast in favor \u2014 just short of the 66.67% supermajority needed to pass.<\/p>\n

In total, 135 voters supported the proposal, 61 opposed<\/a> it, and 24 abstained.<\/p>\n

\"\"<\/p>\n

\u201cGovernance requires not only participation, but also a commitment to accept collective decisions,\u201d the Cardano Foundation wrote on X after the result was confirmed. \u201cThe Cardano community has spoken and we respect the outcome.\u201d<\/p>\n

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Governance requires not only participation, but also a commitment to accept collective decisions. The Cardano community has spoken and we respect the outcome.<\/p>\n

Following the outcome of the Treasury proposal votes, the Cardano Foundation\u2019s proposed Cardano Summit 2026, will not\u2026<\/p>\n

\u2014 Cardano Foundation (@Cardano_CF) May 30, 2026<\/a><\/p>\n<\/blockquote>\n

The Summit had been scheduled for Oct. 5 and 6 in Singapore.<\/p>\n

A Second Defeat For The Foundation<\/h2>\n

This was not the foundation\u2019s first attempt. A May 9 vote on an earlier proposal \u2014 which sought around 14 million ADA for the event \u2014 drew support from only 10% of Delegated Representatives, known as DReps.<\/p>\n

\"\"<\/p>\n

These are individuals or organizations that ADA holders can delegate their voting power to, and their bloc proved decisive both times. The foundation responded by cutting the funding request nearly in half, but the revised ask still failed to cross the approval line.<\/p>\n

The rejections<\/a> came amid a months-long standoff between Cardano founder Charles Hoskinson and a faction of DReps pushing for tighter controls on treasury spending. The network\u2019s total value locked stands below $129 million, placing it 28th among all blockchains.<\/p>\n

\"\"<\/p>\n

A Smaller Presence Still Possible<\/p>\n

Not everything tied to the Singapore plans fell through. EMURGO, the investment and commercial arm of the Cardano blockchain, secured approval to represent the ecosystem at TOKEN2049<\/a>, a separate conference set for Oct. 7 and 8 in the same city.<\/p>\n

Hoskinson said he is currently assessing interest in turning the booth into what he called an embedded MiniSummit.<\/p>\n

Cardano carries a market capitalization of $8.8 billion despite the low network activity figures. It\u2019s still too early to tell if a bigger TOKEN2049 event can bridge the gap left by the Summit\u2019s cancellation.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Cardano network has generated just $356,400 in transaction fees so far in 2026 \u2014 a sharp drop from the $8.35 million it recorded four years ago. That financial backdrop loomed large over the weekend when the Cardano Foundation announced it was canceling its annual Cardano Summit after failing to secure community approval for the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-97632","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/97632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=97632"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/97632\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=97632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=97632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=97632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}