ADA governance vote kills Cardano Summit 2026, approves smaller TOKEN2049 plan
Cardano’s flagship Summit will not be held in 2026 after a treasury funding proposal narrowly failed to reach the two-thirds supermajority required for approval. The vote is seen as a major test of Cardano’s Voltaire governance system, which gives ADA holders and delegated representatives (DReps) authority over large treasury withdrawals. Although the Summit proposal had majority support from DReps, it did not pass the higher threshold. The Cardano Foundation said it would cancel the Singapore event and begin winding down preparations, while respecting the outcome. The proposal had originally been bundled with a larger request from the Cardano Foundation and EMURGO for more than 14 million ADA for the Summit and TOKEN2049 Singapore. After criticism over the size of the ask, the plans were split and scaled back. EMURGO’s separate TOKEN2049 proposal was approved, funding a Cardano pavilion, builder showcase stage, and ecosystem programming.
