In accordance to The Block, the Cardano Foundation said that the Cardano 2026 summit, initially scheduled for this yr, has been formally canceled due to the on-chain governance vote not reaching the required two-thirds assist threshold.
Beforehand, the Cardano Foundation submitted a revised proposal requesting the treasury to allocate 7.8 million ADA (roughly 2 million USD) for the summit to be held in October in Singapore. Though the proposal obtained a 65.21% DRep staking assist fee and a majority of representatives in favor, it didn’t meet the 66.67% approval threshold required for treasury funding proposals.
Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard publicly known as for assist for the proposal earlier than the voting deadline, nevertheless it finally didn’t cross.
