The ₳14.1M request for Cardano Summit and TOKEN2049 expires at 10.0%

Two conferences in one request

Cardano Summit 2026 and TOKEN2049 Singapore asked for ₳14.1M to fund the Cardano presence at two conferences in one go: ₳9.6M for a two day summit hosted by the Cardano Foundation and ₳4.5M for a title sponsorship at TOKEN2049, managed by EMURGO, both in October 2026, converted at twenty six cents per ada. Its document says it went outside the Intersect budget process on purpose, because payments through that process were projected for August or September at the earliest and events of that size need a year of planning.

It expired at the start of epoch 630 with 10.0% of DRep power behind it, on 32 yes votes against 132, with 23 abstaining. The shares in this edition are the yes power as a share of all counted power, with abstaining power left out and power that cast no ballot counted as no. Five of the seven committee members voted yes, one voted no and one cast no ballot, which put the committee at 71.4% of its members and above its two thirds despite Tingvard’s objection. The DRep support was not there, and it was the only action decided in these three epochs.

One event, not two

YUTA listed five reasons for voting no, the first “lack of verifiable 2025 outcomes”: the 2025 summit proposal had set 15 to 20% year on year growth in developer numbers as its metric, the primary reason for its yes at the time, the target was not met, and the retention metric had been removed from the 2026 request rather than explained. CardanoYoda (MANDA Pool) wrote that “Cardano needs better marketing” and that flagship events matter, but that at the current ada price “we cannot fund two large events from the Treasury this year”, and asked for the proposal to be split in two. It also held the summit budget against the Foundation’s own sustainability plan, which it said had put the 2026 summit at 1,200,000 dollars where the request asked 2,500,000.

SASA_nagamaru_ながまる supported the setting, Singapore alongside the second conference being “a strategically sound approach”, and abstained over “the overall scale of the budget”. The one committee member who voted no, Tingvard, found the formal requirements of a withdrawal met and the summit component “a notable increase relative to the previously presented financial model”. The Cardano Foundation, which had filed the summit half, abstained on its own bundle once a revised request for the summit alone was on chain. The Eternl DRep Committee voted no with one line: the combined proposal “has been voted down by the community”.

The separate Cardano Summit and TOKEN2049 requests precede the bundle’s expiry

The proposers did not wait for the deadline. Revised Cardano Summit 2026 Singapore was submitted in epoch 627 by the Cardano Foundation, ₳7.8M for the summit alone against the ₳9.6M that part of the bundle had carried, a cut its document puts at 22% in dollars, made by going from three stages to two and by the Foundation raising its own contribution. It prices ada at twenty five cents rather than twenty six, which is why the ada figure fell by less than the dollar figure, and it gives the same reason for staying outside the Intersect process. A baseline sponsorship for TOKEN2049 and a top up to it followed from EMURGO in epoch 628. All three were still open when the bundle expired. How the DReps treated each of them is told in the review of epochs 633 to 635.

Nine deadlines at one boundary

Nine treasury requests, all filed together in one transaction in epoch 626, had their voting close at the boundary out of epoch 632. DReps cast 300 ballots in epoch 630, 471 in epoch 631 and 1,684 in epoch 632, the most in any single epoch since 573. That measures work rather than turnout: a DRep going through all nine casts nine ballots, and across the whole window 236 distinct DReps cast a final ballot. No stake pool ballot was recorded, because everything in front of the voters was a treasury withdrawal and pools have no vote on those. Committee members cast 74 ballots, for the same reason in reverse, since every request needs a constitutionality finding of its own.

In that last epoch the nine drew 1,033 ballots between them from DReps and committee members, out of 1,732 cast on everything. What they asked for ranges from ₳3.6M to ₳62.1M, and the subjects are mostly core work: consensus, maintenance of the existing node, upgrades, developer tooling, improvements to the smart contract language, second layer scaling, an indexing service and a capital project. As of the close of epoch 632 six of the nine stood above the 67% a withdrawal needs and three below it. Their decision is in the review of epochs 633 to 635.

Nothing paid, more DReps voting

The treasury paid nothing in these three epochs. Between the readings at epoch 630 and epoch 632 its balance rose by ₳7.5M, from ₳1.63B to ₳1.64B, and DReps held ₳5.84B of delegation at epoch 630 and ₳5.85B at epoch 632. The count of DReps with a ballot in the last 12 epochs went from 273 at epoch 630 to 315 at epoch 632, and the count holding power with no recent ballot fell from 593 to 566. Both are rolling measures carrying a reliability flag in the data, so they say the activity level rose without identifying 42 DReps who came back.