Cardano Foundation has failed at its second attempt to secure funding from Cardano’s community to fund its annual conference.
The Cardano Foundation has canceled its 2026 annual conference after its governance community shot down a revised proposal seeking to fund the event with treasury tokens.
“Governance requires not only participation, but also a commitment to accept collective decisions. The Cardano community has spoken and we respect the outcome,” the foundation posted to X on Saturday after voting closed on Friday.
The proposal sought to use 7.8 million Cardano (ADA) tokens worth $1.84 million to fund the event. 65.2% of votes were cast in favor of the proposal, which was just short of the 66.67% threshold needed to pass.
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