Charles Hoskinson says Cardano no longer comes first – its treasury vote explains why
Cardano’s delegated representatives rejected a 12.29 million ADA treasury request to fund Input Output-backed Bitcoin DeFi product Pogun: 64.33% voted against and 35.67% in favor. The Constitutional Committee approved it, but DRep ratification was required, so the request expired. The proposal offered repayment and ongoing revenue sharing, but Pogun’s future earnings and adoption remain uncertain. Input Output says it still plans to bring Pogun to Cardano, while choosing networks for future products based on technical and commercial fit. Hoskinson has said the unfunded product will not be exclusive to Cardano and may route activity to other chains. The vote demonstrates that Cardano’s governance can deny treasury funds to a founding builder, while Input Output retains the freedom to pursue other networks.
