Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade
Discussed in the Governance Review for epochs 633 to 635.
On-chain changes
- 1,768,167 ₳paid tostake17xz...6ghh5qjr
Abstract
Modular top-up unlocks the ‘Title’ Sponsorship tier, the highest level of visibility at TOKEN2049. This is an incremental request of 1,768,167 ada (equivalent to $424,360 USD, calculated at an estimated rate of $0.24 per ada) to upgrade Cardano’s presence from a 108 sqm booth to a massive 144 sqm footprint and secure a Mainstage Keynote.
Dependency Notice: This is a top-up proposal intended to be voted on in conjunction with the Cardano at TOKEN2049 Singapore 2026: Baseline ‘Platinum’ Sponsorship proposal (Gov Action ID: gov_action18u8lpkzge2csxe3plynn9lh4agwtv3nrqkyfwalwj4ykjv7l68jqqzmul9z). If this proposal is ratified without the approval of the ‘Platinum’ Sponsorship proposal, EMURGO commits to returning 100% of the funds to the Cardano Treasury within 30 days of enactment, as there would be no underlying sponsorship to upgrade.
By splitting the funding request, we enable DReps to make a clear, isolated decision on the value of premium marketing exposure. The baseline ‘Platinum’ proposal ensures Cardano’s presence, while this upgrade proposal asks whether the community wishes to secure additional benefits, including a 15-minute mainstage keynote, premium media access (press release inclusion and introductions), expanded branding via lanyards, a high-traffic engagement point through the protein shake station, and a larger booth footprint, all of which enhance Cardano’s visibility and reach across the event.
The expanded booth and mainstage presence will also amplify the visibility of Cardano ecosystem projects showcasing at the event, providing them with exposure to a broader and more prominent audience.
Important Notes: Regarding the vote for this “Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade (Modular Extension)”, please vote "YES" only if you support the "Cardano at TOKEN2049 Singapore 2026: Baseline ‘Platinum’ Sponsorship Proposal" as a DRep and wish to upgrade it to a ‘Title’ Sponsorship.
Motivation & rationale
Empowering Builders on the Global Stage
TOKEN2049 Singapore represents the most significant opportunity of the year to showcase the vibrancy of the Cardano ecosystem. The core motivation of this proposal is to provide Cardano builders with a professional, high-traffic platform to demonstrate their innovations. We recognize that for many projects, the barrier to entry for major international conferences is high; therefore, this proposal specifically includes the provision of event tickets and dedicated showcase space for ecosystem builders, ensuring that the people actually growing the network are the ones representing it.
By planting the Cardano flag in Singapore, the heart of the global Web3 economy, we create a "force multiplier" effect. Our presence will facilitate high-level networking, drive project adoption, and demonstrate to the broader crypto world that Cardano is a thriving, builder-focused ecosystem ready for mass-scale integration.
The Role of EMURGO as Facilitator
To ensure the professional execution of this large-scale endeavor, EMURGO will serve as the operational facilitator. This role is uniquely suited to EMURGO for three key reasons:
Local Expertise: Headquartered in Singapore, EMURGO possesses the local network, vendor relationships, and logistical "know-how" required to navigate this complex environment efficiently.
Proven Track Record: With years of experience managing large-scale activations at global events, including previous iterations of TOKEN2049, EMURGO brings the institutional reliability needed to execute a world-class presence.
Direct Pass-Through Funding: EMURGO’s involvement is strictly to enable this community opportunity. All requested funds are designated as a direct pass-through to cover the hard costs of the venue, event delivery, build-out, and tickets. This ensures that 100% of the community’s investment is transformed into tangible value and visibility for Cardano builders.
Benefits to the Cardano Community
This activation is a community-first initiative designed to deliver direct, traceable value to the Cardano ecosystem. By securing a flagship presence at TOKEN2049 Singapore, we are not just buying visibility; we are building a strategic platform for our ecosystem’s most important asset: its builders.
The primary focus of this proposal is to provide a world-class stage for Cardano projects. Key benefits for builders include:
Provision of Event Tickets: We will provide up to 30 dedicated conference tickets for Cardano builders, ensuring they are on the ground at Marina Bay Sands to represent their projects.
Platform & Presence: Builders will have access to a dedicated builder-stage within the Cardano flagship booth and a curated exhibition space to demonstrate live product updates and production-ready applications.
Global Networking: We will facilitate direct introductions between our ecosystem’s builders and a concentrated audience of 25,000+ institutional investors, enterprise decision-makers, and industry leaders.
Long-Term Content Assets: Every presentation will be professionally captured by an exclusive videographer, with raw and edited footage provided to projects to amplify their own marketing efforts long after the event ends.
What this proposal guarantees is that every Cardano builder who can attend TOKEN2049 will be given a premier position at the largest Web3 event in the world — substage slot, booth presence, and curated introductions. The activation is structured as a coordinated, pass-through platform, aggregating resources to unlock premium positioning, substage access, and dedicated on-site support at a scale that is typically inefficient for individual projects to secure on their own.
2026 Objectives
The primary objective of this top-up upgrade is to convert premium visibility, specifically the mainstage keynote and media introductions, into measurable ecosystem growth, strategic partnerships, and institutional relationships.
The Value of the ‘Title’ Upgrade
The case for upgrading to the ‘Title’ Sponsorship at TOKEN2049 rests on the unique value of the mainstage keynote and guaranteed media exposure. While the ‘Platinum’ tier provides excellent lead generation and networking opportunities, the ‘Title’ tier provides thought leadership dominance.
The additional $424,360 USD total requested budget specifically unlocks:
- 144sqm large booth activation: A larger booth activation compared to the ‘Platinum’ sponsorship which was 108sqm
- 15-Minute Mainstage Keynote: A guaranteed speaking slot on the primary stage, allowing Cardano to deliver its core narrative directly to the largest possible audience.
- Mention in Event Press Release: Official inclusion in TOKEN2049's global PR distribution, ensuring visibility in top-tier financial and crypto media before the event begins.
- Introductions to Media: Direct, facilitated introductions to key journalists and reporters covering the event.
- Event-Wide Branding & Engagement: Branded lanyards worn by attendees throughout the event, and a dedicated protein shake station, providing continuous visibility and repeated engagement with attendees.
- Additional Access: 2x Invites to the exclusive Speakers Reception, 5x additional invites to AFTER 2049, and 5x additional general event tickets.
Strategic Importance of Singapore
Singapore occupies a unique position as both a regulated financial center and a leading hub for digital asset innovation. With the Singapore edition serving as TOKEN2049’s flagship event in 2026, and demand concentrated following the cancellation of Dubai, the event provides a uniquely efficient channel to engage the audiences that matter most for Cardano’s next phase of growth.
Cardano Vision 2030 Alignment
Core KPIs
By securing the mainstage keynote, Cardano's presence is elevated before 25,000+ attendees, including institutional investors, enterprise decision-makers, and Web3 builders. The keynote creates a direct pipeline for new ecosystem participants at scale. The wallet sign-up targets, lead generation, and partnership initiations in this proposal are designed to convert event engagement into measurable on-chain activity, supporting the 2030 targets of 1M MAU and ≥ 27M monthly transactions.
Pillar 2: Adoption & Utility
The mainstage keynote directly amplifies the reach of the high-value verticals identified in the strategy, DeFi, RWA, payments, and enterprise applications, by positioning Cardano's institutional-grade infrastructure before the largest possible audience in Asia's premier financial hub.
Pillar 4: Community & Ecosystem Growth
This upgrade executes directly on the strategy's call for localized adoption and global market engagement. The keynote, combined with facilitated media introductions and post-event content distribution, ensures impact extends well beyond the event itself.
Sponsorship Tier Comparison
The following table highlights the specific benefits unlocked by this top-up proposal.
| Benefit | Included in Baseline Proposal ‘Platinum’ | Unlocked by this Top-Up Proposal ‘Title’ |
|---|---|---|
| Booth Size | 108 sqm | +36 sqm (144 sqm total) |
| Branding Opportunities | Branded WiFi, Welcome bag insert (booklet) | Includes: Branded WiFi, Welcome bag insert (booklet) Lanyard Branding Protein Shake Station |
| 15-Minute Speaking Slot | NO | Unlocked (1x 15-min Keynote) |
| Mention in Event Press-Release | NO | Yes |
| Introductions to Media | NO | Yes |
| Invite to Speakers Reception | NO | Yes, 2x |
| Invite to AFTER 2049 | 5 Invites | +5 Invites (Total 10 Invites) |
| Free event tickets available for distribution to ecosystem projects. | 20 Tickets | +5 Tickets (Total 25 Tickets) |
| Priority Booth Location Selection | YES | Already Included |
| Priority Check-In | YES | Already Included |
| Announced across socials (X, LinkedIn, Instagram Story) | YES | Already Included |
| Searchable Attendee List via the App | YES | Already Included |
| Lead Scanning | YES | Already Included |
| Logo displayed on Signages Across the Venue | YES | Already Included |
| Featured in TOKEN2049 App and Website | YES | Already Included |
Event Program
Day 1: October 7, 2026: Unified Community Day & Mainstage Keynote
The first day will focus on visibility and reach. If this upgrade is approved, the 15-minute mainstage keynote will be delivered, setting the tone for Cardano's presence. The flagship booth will host live product demonstrations from leading Cardano ecosystem builders, supported by a dedicated presentation area.
Day 2: October 8, 2026: Builder Spotlight Day
The second day will focus on deeper engagement and conversion. A second rotation of ecosystem builders will be featured, with an emphasis on networking sessions, live Q&A panels, and technical demonstrations. Facilitated media introductions unlocked by this upgrade will take place throughout the day.
Key Performance Indicators (KPIs)
The following KPIs represent new benchmarks, on top of the existing KPIs outlined in the baseline ‘Platinum’ proposal, against which the Cardano community can hold EMURGO accountable. All metrics will be tracked and reported publicly, with a full post-event report submitted within 60 days of the event. Additionally, all leads collected will be appropriately connected with relevant companies in the ecosystem based on their interests and areas of focus.
| KPI Category | Specific Metric | 2026 Target with ‘Platinum’ | New 2026 Target with ‘Title’ |
|---|---|---|---|
| Thought Leadership | Mainstage keynote delivery - 15 mins | None | 1 |
| Lead Generation | Total contacts engaged at the booth | 1950 | 2530 (+30% over baseline proposal targets) |
| Partnerships | New strategic collaborations initiated | 20 | 26 |
| Thought Leadership | Expert panels or keynote speaker opportunities | 13 | 15 |
| Brand Reach | Merchandise distributed at the booth | 1000 | 1300 |
| User Acquisition | Cardano Wallet sign-ups | 200 | 260 |
| Education | Cardano Academy subscribers | 200 | 260 |
| Media Impact | Media coverage, features, and published interviews | 20 major media outlets | 26 major media outlets |
| Media Reach | Guaranteed press release inclusions | None | 1 |
| Media Engagement | Facilitated media introductions and meetings | None | 5 major outlets |
| Executive Networking | Speakers Reception engagements | Tracked & reported | Tracked & reported |
Budget Breakdown
The total requested budget for this top-up proposal is $424,360 USD (1,768,167 ada). The budget below represents only the price delta between ‘Platinum’ (Baseline) and ‘Title’ (Top-Up) tiers. To maintain fiscal discipline, no additional management fees are added to this top-up proposal; the management of this tier is covered by the existing Baseline Proposal operational fee.
EMURGO is acting as the fiscal and operational conduit for this event. As such, these funds are treated as a direct pass-through expenditure, with 100% of the top-up capital applied to the vendor-mandated costs of the ‘Title’ Sponsorship upgrade.
Note: All ada figures are calculated at an estimated rate of $0.24 USD per ada at the time of writing. Should the ada price appreciate materially between proposal submission and event execution, any resulting surplus will be returned to the Cardano Treasury within six months of the event.
| Expense Category | Description | Cost (USD) |
|---|---|---|
| Top-Up ‘Title’ Sponsorship Upgrade | Direct payment to TOKEN2049 covering the additional benefits including a mainstage keynote, press release inclusion, media introductions, expanded branding (lanyards), a high-traffic engagement point (protein shake station), a larger booth footprint (144 sqm), and additional access, along with all associated benefits outlined in the proposal. | $300,000 |
| Booth Build/ Logistics to third-party vendor | Extra cost needed for a larger booth and stage setup | $100,000 |
| Compliance & Governance | 3% allocation for legal review, audit provisions, and tax compliance. | $12,000 |
| Total Budget | $412,000 | |
| Intersect’s 3% admin fee | $12,360 | |
| Total Request | $424,360 |
Accountability
Administration of Funds
All critical phases, acceptance benchmarks, funding disbursements, and projected timelines will be established through a legal agreement between EMURGO and the Cardano Development Holdings (CDH), as mandated by the Constitution, and will be administered by Intersect. EMURGO is committed to fulfilling the project schedule as outlined in the formal legal agreement. Essential details of this arrangement will be transparently shared through the budget management system using transaction metadata.
As dictated by the milestones within the legal contract, EMURGO will present and certify the completion of each phase to the broader community, Intersect, or third-party assurer. The ongoing progress of the initiative will be closely tracked by Intersect's delivery assurance team, ensuring regular updates are provided to the community.
The formal acceptance of completed work will be facilitated by a third-party assurer. This entity is tasked with evaluating and approving the deliverables at each project milestone, ensuring they meet the specific criteria set forth in the legal contract. The compensation for this assurance work is drawn from a designated portion of the treasury allocation.
Budget Administration Infrastructure
To securely manage treasury assets on-chain, Intersect will deploy the treasury management smart contract architecture created by Sundae Labs. These smart contracts have undergone rigorous testing, including comprehensive security audits conducted by TxPipe and MLabs. The conclusive mainnet validation test is publicly verifiable through the disburse action in transaction 0f591dc544ae14102dbb4a74d5311a6acffc1772b163d8b7a9656b9525950b17.
This particular funding withdrawal will leverage Intersect’s 2025 treasury reserve contract, located at the address stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr. It is planned that these funds will be transitioned to a new 2026 treasury reserve contract once it is fully operational.
Specifics of Budget Management
Intersect will employ a single Treasury Reserve Smart Contract (TRSC) alongside multiple Project-Specific Smart Contracts (PSSC), all under Intersect's administration. The governance structure within Intersect involves three administrative roles and two leadership roles. To ensure accountability, an Oversight Committee composed of five independent, external organizations will implement a system of checks and balances. This committee is designed to prevent unilateral decision-making and mitigate potential errors. While Intersect handles the day-to-day administration of both the TRSC and PSSCs, the Oversight Committee provides crucial external review for specific, high-impact actions.
The 2025 TRSC Oversight Committee includes Sundae Labs, the Cardano Foundation, Dquadrant, Xerberus, and NMKR. Their primary function is to objectively validate significant administrative operations using on-chain logic. They ensure that actions are accurate and consistent with established rules, without imposing subjective judgment on governance matters. Comprehensive details regarding Intersect's setup can be found in the Smart Contract Guide available in the knowledge base.
The top-level permissions are outlined below:
- TRSC Fund and PSSC Modify
- Authorization requires at least two of the three Intersect admins, two of the five trusted entities, and one of the two Intersect leadership members to sign off.
- TRSC Disperse
- Authorization requires at least two of the three Intersect admins, three of the five trusted entities, and both Intersect leadership members to sign off.
- TRSC Pause and Resume
- Authorization requires at least two of the three Intersect admins and one of the two Intersect leadership members to sign off.
- TRSC Sweep
- Authorization requires at least one of the three Intersect admins and one of the two Intersect leadership members to sign off.
- TRSC Reorganize
- Authorization requires at least two of the three Intersect admins and three of the five trusted entities to sign off.
Operational Procedures
Once this governance proposal is approved, project funds will be deposited into the TRSC's stake account. Neither the TRSC nor the PSSCs will be staked with a Stake Pool Operator (SPO); both will be delegated to the auto-abstain DRep. The funds will then be held in a UTxO within the TRSC.
When the 2026 TRSC is ready, funds will be migrated over via the disburse function. Once the legal contract is in place, funds will be transferred to a PSSC through the fund action, with all milestones and deliverables recorded in the transaction metadata.
A public dashboard will be made available for the community to audit the TRSC and PSSCs, track key metrics on the withdrawn ADA, and verify all fund movements on-chain.
Milestones
Disbursements will be made according to the following two milestones.
| Milestone | Ada Amount | USD Equivalent | Release Condition |
|---|---|---|---|
| Milestone 1 | 1,768,167 ada | $424,360 | Available immediately upon DRep approval (contingent on Baseline proposal approval). Enables EMURGO to secure the ‘Title’ upgrade with TOKEN2049. |
Audits
This proposal includes a provision for the cost of an independent audit, allocated within category Compliance & Governance in the budget breakdown.
Risks and Mitigation
This proposal is strictly contingent on the approval of the 'Cardano at TOKEN2049 Singapore 2026: Baseline ‘Platinum’ Sponsorship Proposal'. Should this top-up proposal pass but the Baseline proposal fails, all funds will be returned to the Treasury immediately, as the upgrade cannot exist without the foundation.
Ada price volatility is the primary financial risk. A conservative estimate of $0.24 per ada has been used. If the ada price appreciates, any resulting surplus will be returned to the Cardano Treasury within six months of the event.
The risk of TOKEN2049 being canceled is low given its strong track record and confirmed dates of October 7–8, 2026. Should a cancellation occur outside of EMURGO's control, all unspent funds, minus any unavoidable vendor commitments, will be returned to the Treasury along with a full cost breakdown.
Geopolitical disruptions or travel restrictions affecting Singapore could impact the event's value and level of attendance. If this occurs, EMURGO will assess the situation and either proceed at a reduced scale, postpone the activation, or return remaining funds to the Treasury. All decisions will be communicated transparently through the public dashboard.
Constitutional Self-Assessment
In an effort to ensure this governance action fulfills all requirements of the Cardano Constitution, EMURGO has prepared the following self-assessment.
Article I.1 - Guiding Tenets This proposal aligns with the guiding tenets of the Cardano Constitution, specifically by fostering ecosystem growth, ensuring transparency through public milestone reporting, and utilizing decentralized infrastructure for fund administration. It does not violate any of the 10 core tenets.
Article II.3.1 - Smart Contracts Use This section encourages the use of smart contracts where beneficial. This proposal leverages the open-source and audited smart contracts developed by Sundae Labs to administer the requested funding amount, directly adhering to the Constitution's encouragement to use smart contracts in the governance process.
Article II.6.1 - Governance Action Metadata Format This proposal's metadata adheres to the standardized, legible format required by CIP-0108. The metadata file is hosted immutably on IPFS, with its hash referenced in the anchor hash field and its CID link referenced in the anchor URL field of the governance action, ensuring cryptographic integrity and preventing post-submission alteration.
Article II.6.2 - Governance Action Metadata Structure The governance action metadata adheres to the required structure by including a title, abstract, motivation, rationale, and relevant supporting materials. Specifically, the rationale clearly outlines the strategic value of expanding Cardano's presence in Asian markets via a ‘Title’ Sponsorship Upgrade at TOKEN2049.
Article II.7.1 - Treasury Withdrawals Terms As required by this section of the Constitution, this proposal specifies the terms of the withdrawal:
- Purpose of the withdrawal: The purpose is to fund a ‘Title’ Sponsorship Upgrade at TOKEN2049 Singapore to increase Cardano's presence and foster ecosystem growth.
- Period of delivery: The proposed activities will be delivered for TOKEN2049 Singapore, taking place from October 7–8, 2026.
- Relevant costs and expenses: A detailed breakdown of the budgeted costs are specified in the Budget Breakdown section.
- Circumstances for refund: The withdrawal might be refunded to the Cardano Treasury under the following circumstances:
- The failure of the baseline ‘Platinum’ proposal to pass
- Cancellation of TOKEN2049 before vendor payments are due, with the balance returned to the Treasury
- Successful execution of the event with total expenses falling under the requested amount, in which case unspent ada will be returned within six months; or
- Realization of a profit on withdrawn ada due to ada price appreciation, which will be refunded within six months of the event.
Article II.7.2 - Prior Treasury Funding EMURGO received ada during 2025 treasury withdrawals under the "Unveiling the First Unified Global Events Marketing Strategy for Cardano" proposal for conducting various global events and sponsorships, and the India Blockchain Week Hackathon through the "Cardano Summit 2025 and regional tech events" proposal. The Hackathon hosted by EMURGO was successful and exceeded all agreed KPIs. The global events proposal is ongoing as certain events take place in 2026, and the Community can view successful milestone reporting through the Intersect dashboard.
Article II.7.3 - Net Change Limit An NCL of 350,000,000 ada for the period from epoch 613 (13-02-2026) to epoch 713 (03-07-2027) has been approved. As of the date of writing, a total of 67,842,000 ada has been withdrawn under this NCL across four enacted governance actions (Amaru: 10,142,000 ada; Dingo: 6,900,000 ada; DeFi Liquidity Budget Withdrawal 1: 800,000 ada; Orion Fund: 50,000,000 ada), leaving a remaining NCL balance of 282,158,000 ada. The 1,768,167 ada requested in this proposal falls well within this remaining balance. Furthermore, in the preferred scenario where both this proposal and the baseline ‘Platinum’ Sponsorship Proposal are approved simultaneously, the combined total of 5,071,917 ada still falls well within the remaining NCL balance of 282,158,000 ada.
Article II.7.4 - Periodic Independent Audits and Oversight Metrics This section requires that ada be allocated from the withdrawal to cover periodic independent audits and the implementation of oversight metrics. This proposal makes provisions for periodic independent audits under the "Management and Administration" budget category, and progress will be publicly available through the Intersect dashboard to track and monitor the smart contract instance used to administer the funding and to view updates to KPIs.
Article II.7.5 - Treasury Withdrawal Administrator This section requires that proposals specify one or more administrators. This proposal designates Intersect as the administrator, operating on behalf of the CDH, as detailed in the "Accountability" section. It specifies an administration process using smart contracts and an Oversight Committee, following established practices of self-administration with maximum Community visibility.
Article II.7.6 - Administrator Custody This section requires that funds held by an administrator be kept in separate, auditable accounts that are not delegated to an SPO and are set to a predefined auto-abstain voting option. This proposal withdraws funds to Intersect's Treasury Reserve Smart Contract (TRSC) address, which will then fund a Project-Specific Smart Contract (PSSC) for EMURGO. The funds will be held in a UTxO within the TRSC. Neither the TRSC nor the PSSCs will be staked with an SPO; both will be delegated to the auto-abstain DRep, providing public oversight of all operations and allowing for audits by the Cardano Community.
Appendix I.TREASURY-02a - Cardano Blockchain Guardrails In accordance with guardrail TREASURY-02a, this withdrawal does not exceed the NCL at the moment of submission.
Appendix I.TREASURY-03a - Cardano Blockchain Guardrails In accordance with guardrail TREASURY-03a, this proposal is denominated in ada.
Track Record
EMURGO is headquartered in Singapore and has maintained a continuous, multi-year partnership with TOKEN2049 spanning 2022 through 2025. This relationship provides EMURGO with contractual leverage, preferred positioning, and direct access to the TOKEN2049 organizing team that no other entity in the Cardano ecosystem can replicate. This is not a speculative sponsorship, instead it is the continuation of a proven, established commercial relationship.
Under the previous proposal, EMURGO successfully managed the TOKEN2049 sponsorship component of the 2025 events strategy, ensuring strong and consistent Cardano branding throughout the sponsorship activation. The results of that activation were publicly reported, with KPI tracking available through the Intersect dashboard. EMURGO's deep roots in the Asian Web3 market, combined with its institutional relationships across Singapore's financial sector, make it the natural and most qualified executor of this sponsorship.
This proposal is submitted in good faith, with a full commitment to delivering a high-quality and measurable activation. Approval from the community will enable EMURGO to secure maximum marketing exposure at TOKEN2049 and initiate the detailed planning required to execute at the level the Cardano ecosystem deserves.
Disclaimer and Dependencies
The successful execution of this sponsorship depends on timely approval from DReps. A lead time of at least four months is required to secure the sponsorship package, engage booth builders, and coordinate ecosystem project participation. A reduced planning timeline may result in a reduced scale of the booth build or changes to the builder showcase program.
Active engagement and participation from Cardano ecosystem projects is essential. EMURGO will coordinate a selection process for builder showcase slots, prioritizing projects that can demonstrate live, production-ready applications to a sophisticated institutional audience. Details on this will be published by EMURGO following governance approval, ensuring transparent and community-aligned access to booth showcase and presentation opportunities.
Rationale highlights
Why some of the largest DReps voted for and against, in their own words. About vote rationales
I am voting NO to "Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade." This upgrade offers a larger keynote address and booth space compared to the premium plan, but in my opinion, the proposal does not adequately support the claim...
I am voting NO to "Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade."
This upgrade offers a larger keynote address and booth space compared to the premium plan, but in my opinion, the proposal does not adequately support the claim that there is a significant difference. If there is, I will reconfirm it. I will decide on the premium plan later.
—
私は「Cardano at TOKEN2049 Singapore 2026: Top-Up ‘Title’ Sponsorship Upgrade」にNOを投票します。
これはプレミアムプランと比較して、基調講演+ブースの広さを広げるものですが、私の考えでは、ここに大きな差をがあることを裏付ける主張は提案書にありません。仮にそれがある場合、私はそれを再確認します。プレミアムプランについては後ほど判断します。
The Cardano Foundation votes YES on both the Baseline 'Platinum' Sponsorship and the Top-Up 'Title' Sponsorship Upgrade. This proposal provides important visibility at TOKEN2049 Singapore and ensures Cardano achieves significant reach in the Asian market....
The Cardano Foundation votes YES on both the Baseline 'Platinum' Sponsorship and the Top-Up 'Title' Sponsorship Upgrade. This proposal provides important visibility at TOKEN2049 Singapore and ensures Cardano achieves significant reach in the Asian market.
A PDF version of this rationale is also made available.
Securing a sponsorship at TOKEN2049 is an important opportunity to promote Cardano’s visibility, extend its reach and provide a critical platform for ecosystem builders. As with the Summit, this proposal represents a counter-cyclical investment which we believe will support Cardano’s momentum. This proposal has been evaluated together with the complementary proposal for the 'Title' sponsorship at TOKEN2049:
1. The Baseline 'Platinum' Sponsorship: Establishing a footprint at the largest industry event of 2026 ensures Cardano remains visible and highly competitive in the Web3 market. Covering 30 conference tickets and providing exhibition space for community projects empowers the teams building the network to represent Cardano directly to institutional audiences.
2. The Top-Up 'Title' Upgrade: We maintain our strong conviction in the Title sponsorship’s strategic value. Upgrading to the Title tier unlocks a Mainstage Keynote and guaranteed premium media reach, giving Cardano access to a completely different level of exposure. We believe that going "all in" on this event is a net-positive that maximizes the treasury's return on investment.
Budget and Execution: Although the unbundled cost includes new administrative fees for Intersect, this decentralized setup supports transparency and accountability. We find this slightly higher overall cost acceptable, especially given the proportional reduction in other management fees.
The Cardano Foundation votes YES on these proposals.
NOTE on 'Internal Voting':
The fields constitutional and unconstitutional below reflect the CF governance teams' individual opinions whether they are for or against the proposal. Reason for this inconsistency is, that CIP-136 is at the moment only applicable to CC rationales, but we want to record the internal opinions of our DRep assessment transparently as well.I evaluated the three proposals — Cardano Summit 2026, TOKEN2049 Platinum Sponsorship, and the TOKEN2049 Title Upgrade — as part of one broader strategic direction. First, I strongly support Cardano having a presence at TOKEN2049. At this stage, I believe...
I evaluated the three proposals — Cardano Summit 2026, TOKEN2049 Platinum Sponsorship, and the TOKEN2049 Title Upgrade — as part of one broader strategic direction.
First, I strongly support Cardano having a presence at TOKEN2049. At this stage, I believe Cardano’s biggest challenge is no longer purely technology or research, but external adoption, business development, liquidity, institutional relationships, and attracting new builders into the ecosystem. TOKEN2049 represents one of the few global venues where over 25,000 participants — including investors, enterprises, exchanges, developers, and media — are already concentrated in one place. This makes it an extremely valuable opportunity for Cardano to expand beyond its existing ecosystem.
In particular, the Platinum Sponsorship proposal appears relatively practical and cost-conscious while still preserving the core strategic value. The builder stage, ecosystem booth presence, networking access, and builder ticket allocation provide direct opportunities for ecosystem exposure, relationship building, and potential onboarding. Given the current market conditions and the broader treasury environment, I believe this proposal has a reasonable chance of generating measurable external impact.
However, I am more cautious regarding the Title Upgrade proposal. While the keynote slot, additional branding exposure, and media positioning certainly have value, I do not believe Cardano’s highest priority right now is maximizing prestige or brand visibility alone. The ecosystem’s larger issue is converting attention into real adoption, partnerships, liquidity, and users. Because of this, I am not fully convinced that the additional cost of the upgrade delivers proportional ROI at the current stage.
Regarding Cardano Summit 2026, I understand and respect the overall vision behind the event. Community building, governance discussions, education, and ecosystem identity are all important for Cardano’s long-term health. However, I also believe there is a real risk of becoming too internally focused. Cardano already has strong technology, strong research, and a strong governance culture, but it still struggles with market penetration and external growth. In the current environment, I believe the higher priority should be attracting external participants rather than primarily reinforcing internal branding.
Overall, my position is:
TOKEN2049 Platinum Sponsorship → Support
TOKEN2049 Title Upgrade → Cautious / leaning unnecessary at this stage
Cardano Summit 2026 → Worth reconsidering if there is sufficient remaining NCL capacity. However, a further reduction in scope and budget would make the proposal significantly easier to supportFor Cardano to reach the next phase, it must evolve from being simply a technically strong blockchain into an ecosystem that naturally attracts capital, enterprises, developers, and users. In my view, external connection and market expansion should be prioritized right now.
僕は、Cardano Summit 2026、TOKEN2049 Platinum Sponsorship、そしてTOKEN2049 Title Upgradeの3提案を一体として検討しました。
まず、TOKEN2049への参加自体には強く賛成です。現在のCardanoに最も必要なのは、内側での認知や結束だけでなく、外部市場との接続、流動性、企業連携、そして新規ビルダーや機関投資家を引き込むための導線だと考えているからです。TOKEN2049は、25,000人規模のグローバル参加者が集まる数少ない場であり、Cardanoを「外」に届けるための非常に重要な機会だと考えています。
特にPlatinum Sponsorship proposalは、Builder Stage、ブース展開、ネットワーキング、Builder ticket提供など、比較的コストを抑えながらも、実際の流入や事業開発につながる現実的な構成になっていると感じます。現在の市場環境やNCLの状況を踏まえても、一定の費用対効果は期待できると考えています。
一方で、Title Upgrade proposalについては慎重です。メインステージ keynote、ランヤード、追加ブランド露出などは確かに価値がありますが、現時点のCardanoにおいて最優先なのは「ブランドを大きく見せること」より、「実際に人や企業を引き込むこと」だと考えています。追加コストに対するROIには疑問が残るため、現段階ではPlatinumのみで十分ではないかと感じています。
また、Cardano Summit 2026についても、方向性や思想には共感しています。特にコミュニティ形成、ガバナンス、教育、ブランド構築という観点では重要な役割を持つイベントだと思います。ただし、現在の市場環境では、どうしても“内輪で固まりやすい構造”になるリスクも感じています。今のCardanoは、技術力や研究力は非常に高い一方で、事業開発や市場への浸透に課題を抱えているため、優先順位としては、まず外部流入を強化するべきフェーズだと考えています。
そのため総合的には、
TOKEN2049 Platinum Sponsorship → 支持
TOKEN2049 Title Upgrade → 慎重 / 現時点では不要寄り
Cardano Summit 2026 → NCLに余裕がある場合は検討余地あり。ただし、規模や予算をさらに縮小することで、より支持しやすい提案になると考えていますという立場です。
Cardanoが次のフェーズへ進むためには、「強い技術を持つチェーン」から、「人・資本・企業・開発者が自然に集まるチェーン」へ進化する必要があると考えています。その意味で、今最も重要なのは“外に向けた接続”だと感じています。
SIPO DRep re-vote on Cardano at TOKEN2049 Singapore 2026: Top-Up 'Title' Sponsorship Upgrade: changing from NO to YES (with explicit reconciliation expectations). Context: On 2026-05-13, SIPO voted NO on this Top-Up — the strongest NO among the three...
SIPO DRep re-vote on Cardano at TOKEN2049 Singapore 2026: Top-Up 'Title' Sponsorship Upgrade: changing from NO to YES (with explicit reconciliation expectations).
Context: On 2026-05-13, SIPO voted NO on this Top-Up — the strongest NO among the three resubmissions — on the grounds that the Title-tier upgrade represented the most pure brand-marketing premium and the structurally weakest case for treasury funding. On 2026-05-24, IOG CEO Charles Hoskinson posted a public commitment on his official X account (https://x.com/IOHK_Charles/status/2058553026382606787) directly relevant to this Top-Up. CF CEO Frederik Gregaard publicly endorsed the message in the same thread on 2026-05-25. SIPO has independently reassessed and is changing its vote from NO to YES, with explicit reconciliation expectations regarding the relationship between Hoskinson's stated personal contribution and the treasury draw.
This re-vote is not a retreat from SIPO's prior reasoning. SIPO's four-pillar Treasury Fit framework remains intact. What changed is the public information against which that framework is now being applied — and what that information enables this Top-Up to become.
The broader judgment
SIPO views this Top-Up as part of whether Cardano can use TOKEN2049 Singapore — one of the world's most important blockchain conferences — to project an integrated next-phase strategy into the real world at a time of broad market and geopolitical uncertainty. A unified Cardano mainstage presence with publicly demonstrated founding-entity coordination has public value beyond branding. Better evaluated as a real-world execution signal for Cardano's next phase, conditioned on transparent reconciliation between personal and treasury contributions. SIPO.TOKYO publishes the full strategic rationale separately.
Why SIPO changes its vote to YES on Top-Up specifically
The Top-Up's evaluation environment is most directly affected by Hoskinson's 2026-05-24 public commitment.
Hoskinson wrote on his official IOG CEO X account: "I am also personally committing to partially top up our Token2049 sponsorship to Title level. Being on that main stage is where Cardano and Midnight need to be heard."
This is a publicly verifiable, on-the-record public intention by IOG's CEO to make a personal partial contribution toward upgrading Cardano's TOKEN2049 sponsorship to Title level. SIPO treats this as a public intention, not as a defined contractual commitment — the precise scope, amount, and reconciliation method with the treasury Top-Up draw are not yet publicly defined.
Implications for the four pillars:
- Pillar 2: a non-treasury funding contribution toward the Title upgrade has been publicly intended, reducing — but not removing — reliance on the treasury for the brand premium.
- Pillar 3: the brand premium is partially shared with personal contribution rather than fully treasury-funded.
- Pillar 4: IOG's CEO is publicly committing personal effort and contribution to a unified Cardano presence at TOKEN2049 — a direct public signal addressing the disclosure concern.
The Top-Up's evaluation environment has materially changed even though the proposal text itself has not been formally amended. Reconciliation between personal and treasury contributions becomes the central operational question.
Pillar 1 reassessment
Pillar 1 (EMURGO three-way conflict) remains formally unresolved. EMURGO's reported management fee waiver applies primarily to the Baseline proposal's operational fee; the Top-Up itself does not carry a separate management fee, so the fee-waiver signal is treated here as supportive context rather than a direct mitigation specific to the Top-Up.
Central reconciliation expectation for Top-Up
Given that Hoskinson's public intention to make a personal partial contribution and the treasury Top-Up draw will fund the same Title-tier upgrade, transparent reconciliation is essential. SIPO expects:
- Actual Title-tier upgrade cost (Baseline → Title delta) publicly disclosed before September 2026.
- Hoskinson's personal contribution amount publicly disclosed and verifiable, separately from the treasury Top-Up draw.
- If Hoskinson's personal contribution + treasury Top-Up exceed the actual upgrade cost, the difference is returned to the treasury within 30 days of TOKEN2049 closure (Reconciliation Expectation, extending the precedent-setting logic of the original Top-Up Atomic Dependency Clause).
- The Reconciliation Expectation is publicly committed by EMURGO before any treasury Top-Up funds are drawn.
Overall judgment
With Pillar 4 materially addressed by public signal, Pillars 2 and 3 partially mitigated by Hoskinson's publicly intended personal contribution, Pillar 1 partially mitigated by the publicly discussed fee-waiver context, and a clear Reconciliation Expectation protecting against double-funding, SIPO judges that the Top-Up — as a potential co-funding pathway with clear reconciliation expectations and as part of Cardano's real-world execution signal at a critical juncture — qualifies for YES.
This is the Constructive NO → public-channel improvement → independent reassessment → YES pathway — not a concession of the framework, and not a response to private-channel persuasion.
SIPO expectations (public accountability) — summary
SIPO is a DRep and does not impose legal conditions. Tracked publicly:
- Reconciliation Expectation: Hoskinson personal contribution + treasury Top-Up draw ≤ actual Title-tier upgrade cost, with overage returned to treasury within 30 days of TOKEN2049 closure.
- Title-tier upgrade cost (Baseline → Title delta) publicly disclosed before September 2026.
- Hoskinson personal contribution amount publicly disclosed and verifiable, separately from treasury draw.
- EMURGO formalizes 15% management fee waiver on Baseline via official channels before TOKEN2049; for Top-Up, EMURGO publicly confirms no additional management fee on the Top-Up draw.
- TOKEN2049 mainstage Title-tier presence (Hoskinson keynote, Midnight presence, or equivalent visible Title-tier participation) made concrete in publicly listed Program & Agenda by September 2026.
For these reasons, SIPO DRep changes its vote from NO to YES on the Top-Up Title Sponsorship Upgrade.
SIPO DRep として、本提案「Cardano at TOKEN2049 Singapore 2026: Top-Up 'Title' Sponsorship Upgrade」への投票を NO から YES へ変更します(明確な精算期待事項付き)。
背景:2026-05-13、SIPO は本 Top-Up を「Title ティアアップグレードが最も純粋なブランドマーケティング premium であり、Treasury 資金提供の構造的根拠が最も弱い」として 3 件再提出のうち最も強い NO を投じました。2026-05-24、IOG CEO Charles Hoskinson 氏が公式 X (https://x.com/IOHK_Charles/status/2058553026382606787) で本 Top-Up 提案に直接関連する公的コミットメントを表明し、2026-05-25、CF CEO Frederik Gregaard 氏が同スレッドで公開支持を表明しました。SIPO は独立に再評価し、Hoskinson 氏個人拠出と Treasury 引出の精算に関する明示的期待事項付きで NO から YES へ投票変更します。
本再投票は SIPO 従来主張からの撤回ではありません。SIPO の 4 本柱フレームワーク自体は維持され、変化したのはそのフレームワークが適用される公開情報と、その情報が本 Top-Up に何をもたらし得るかという評価環境です。
より大きな判断
SIPO は本 Top-Up を、Cardano が TOKEN2049 Singapore — 世界で最も重要なブロックチェーンカンファレンスの一つ — を「市場・地政学的不確実性の中で統合された次段階戦略を現実世界へ投射する moment」として活用できるかの一部として捉えています。創設エンティティ間の coordination が公的に示された統合 Cardano メインステージプレゼンスは、ブランディングを超えた公益価値を持ちます。個人拠出と Treasury 拠出の透明な精算を条件に、Cardano 次段階の real-world execution signal として評価する方が適切です。詳細な戦略的論証は SIPO.TOKYO で別途公開します。
SIPO が Top-Up を特に YES に変更する理由
本 Top-Up の評価環境は Hoskinson 氏の 2026-05-24 公的コミットメントによって最も直接的に影響を受けます。
Hoskinson 氏は IOG CEO 公式 X で次のように投稿しました:「私は Token2049 スポンサーシップを Title レベルへアップグレードする分を個人的に一部負担することにコミットします。メインステージこそ Cardano と Midnight が語られるべき場所です」。
これは IOG CEO による publicly verifiable・on-the-record な公的意向であり、Cardano の TOKEN2049 スポンサーシップを Title レベルへアップグレードする分に個人的に一部貢献するというものです。SIPO はこれを「公的意向」として扱い、確定した契約的コミットメントとしては扱いません — 正確な scope・金額・Treasury Top-Up 引出との精算方法は公的にはまだ確定していません。
4 本柱への含意:
- 柱 2:Title アップグレードへの非 Treasury 資金拠出が公的に意向表明された — ブランド premium 部分に対する Treasury 依存を縮小(完全除去ではない)
- 柱 3:ブランド premium 部分が個人拠出と部分的に共有され、Treasury 全額負担ではなくなる
- 柱 4:IOG CEO が TOKEN2049 における統合 Cardano プレゼンスへの個人的努力と個人的拠出を公的にコミット — 開示懸念に対する直接的な公的シグナル
提案テキスト自体は正式 amend されていないものの、本 Top-Up の評価環境は実質的に変化しました。個人拠出と Treasury 拠出の精算が中心的な operational 論点となります。
柱 1 の再評価
柱 1(EMURGO 三重利益相反)は formal には未解消です。EMURGO の報じられているマネジメントフィー無料化は主として Baseline 提案の operational fee に適用され、Top-Up 自体は別途マネジメントフィーを持たないため、フィー無料化シグナルを Top-Up に対する直接的緩和ではなく文脈的 supportive 要因として扱います。
精算に関する中心的期待事項(Top-Up 固有)
Hoskinson 氏の公的意向としての個人一部拠出と Treasury Top-Up 引出は同じ Title ティアアップグレードに資金提供することになるため、両者の透明な精算が essential です。SIPO は以下を期待します:
- Title ティアアップグレード実費(Baseline → Title 差額)を 2026 年 9 月までに公開開示
- Hoskinson 氏個人拠出額を Treasury 引出と分離して公開開示・verifiable とする
- Hoskinson 氏個人拠出 + Treasury Top-Up が実 Title アップグレード費用を超える場合、差額を TOKEN2049 終了後 30 日以内に Treasury 返却(Reconciliation Expectation、原 Top-Up Atomic Dependency Clause の precedent-setting ロジックを extend)
- Reconciliation Expectation は Treasury Top-Up 資金引出前に EMURGO が公的にコミット
総合判断
柱 4 が公的シグナルにより実質的に対応され、柱 2 と 3 が Hoskinson 氏の公的意向としての個人拠出で部分的に緩和され、柱 1 が公開議論されているフィー無料化文脈で部分的に緩和され、明確な Reconciliation Expectation が double-funding を防護する状況で、SIPO は Top-Up — 明確な精算期待を伴う潜在的 co-funding pathway として読み、重要局面における Cardano real-world execution signal の一部として読むとき — が YES に値すると判断します。
これは「Constructive NO → 公開チャネルでの改善 → 独立再評価 → YES」のパスウェイです。SIPO の投票変更はこのパスウェイを反映するものであり、基礎フレームワークの譲歩でも、私的チャネル説得への応答でもありません。
SIPO の期待事項(公開アカウンタビリティ)— 要約
- Reconciliation Expectation:Hoskinson 氏個人拠出 + Treasury Top-Up 引出 ≤ 実 Title ティアアップグレード費用、超過分は TOKEN2049 終了後 30 日以内に Treasury 返却
- Title ティアアップグレード費用(Baseline → Title 差額)を 2026 年 9 月までに公開開示
- Hoskinson 氏個人拠出額を Treasury 引出と分離して公開開示・verifiable
- EMURGO が Baseline 15% マネジメントフィー無料化を TOKEN2049 (2026 年 10 月) 前に公式チャネル経由で正式化;Top-Up 固有として、EMURGO が Top-Up 引出に追加マネジメントフィーが上乗せされないことを公的確認
- TOKEN2049 メインステージ Title ティアプレゼンス(Hoskinson keynote / Midnight presence / または同等の可視的 Title ティア参加)を 2026 年 9 月までに公開 Program & Agenda で具体化
以上の理由により、SIPO DRep として本 Top-Up Title Sponsorship Upgrade への投票を NO から YES へ変更します。