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The Cardano Foundation has canceled the Cardano Summit 2026 after a treasury funding proposal for the Singapore event fell short of Cardano’s required supermajority.
The Foundation said the summit will not take place on Oct. 5 and 6. It said it respects the community’s decision after the vote failed under Cardano’s treasury rules.
7.8M ADA Request Misses 66.67% Threshold
The revised proposal sought 7.8 million ADA, worth about $2 million, from Cardano’s treasury. It received 65.21% support from participating DRep stake, just below the 66.67% threshold needed for approval.
The Constitutional Committee approved the proposal, and a majority of participating delegates supported it, but the vote still failed because it did not clear the supermajority requirement.
Hoskinson and Gregaard Backed Failed Treasury Vote
The result gives Cardano’s on-chain treasury process an early high-profile test. Senior ecosystem figures had urged support before voting closed.
They included Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard, but that backing was not enough to push the funding request over the required threshold.
TOKEN2049 Sponsorship Still Passes for Oct. 7 and 8
The cancellation does not remove Cardano from Singapore’s October crypto calendar. The Foundation said EMURGO’s separate proposal to sponsor TOKEN2049 Singapore on Oct. 7 and 8 has passed.
That leaves the ecosystem with a presence around one of Asia’s largest crypto events, even without its standalone summit.
Foundation Has Not Announced New Summit Plan
The failed vote means the Cardano Summit 2026 will not go ahead in its planned Singapore format.
The Foundation has not said whether it will pursue a smaller event, regional gatherings or a different funding route. Any new plan would need broader support if it depends on Cardano treasury funding.
