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The Cardano Foundation said it will cancel the Cardano Summit 2026 after a treasury vote to fund the Singapore event with 7.8 million ADA closed just short of the two-thirds supermajority required to release network funds.
Yes votes drew 65.21% of participating delegated representative stake when balloting closed Friday, 1.46 percentage points below the 66.67% threshold treasury withdrawals require under Cardano's Voltaire governance rules. By headcount the proposal carried easily — 135 DReps voted yes, 61 voted no and 24 abstained — but stake-weighted math determines outcomes for treasury actions, and the stake split fell on the wrong side of the line.
The result is the second material Cardano governance event in a week and the first time the community has rejected a flagship Foundation treasury ask.
