Cardano voters reject Input Out Pogun funding proposal, Hoskinson says product will still launch
Cardano delegated representatives voted against a 12.29 million ADA funding request for Input Output-backed Pogun, a Bitcoin DeFi product, with 64.33% opposed.
Why it matters
The vote demonstrates that Cardano's decentralized governance can block funding requests from its founding builder, Input Output. Input Output has stated future ventures will not automatically prioritize Cardano deployment.
Key facts
Input Output proposed Pogun as a Cardano-funded Bitcoin DeFi product.
12,290,000 ADAReported by CryptoSlate
Pogun offered Cardano 20% of earnings until repayment, then 5% from Cardano-related products.
20 %Reported by CryptoSlate
The Pogun governance action expired without ratification or enactment.
12,290,000 ADAReported by CryptoSlate
35.67% of delegated representative voting power voted in favor of Pogun and 64.33% voted against.
64.33 %Reported by CryptoSlate
Charles Hoskinson said Pogun is still headed to Cardano.
Reported by CryptoSlate
Future Input Output ventures will follow technical and commercial fit instead of an automatic Cardano-first policy.
Reported by CryptoSlate
Midnight City V2 was documented on Midnight in July before the Pogun vote.
Reported by CryptoSlate
What happened
Cardano's delegated governance voters let a 12.29 million ADA funding request for Pogun, a Bitcoin DeFi credit and liquidity product backed by Input Output, expire without ratification. The final Koios voting summary showed 35.67% of delegated representative voting power in favor and 64.33% against. CryptoSlate reported that Pogun offered Cardano 20% of earnings until repayment, then 5% from Cardano-related products. Charles Hoskinson said the product is still headed to Cardano. CryptoSlate reported that future Input Output ventures will follow technical and commercial fit instead of an automatic Cardano-first policy.
How the story developed
- First report
First report by CryptoSlate
Charles Hoskinson says Cardano no longer comes first – its treasury vote explains why
- Update
Midnight City V2 documented on Midnight
- Resolution
Pogun governance action expired without ratification
35.67% voted in favor, 64.33% against. Delegated representatives withheld public capital from the affiliated commercial project.
- Official statement
Hoskinson said Pogun will still launch on Cardano
Hoskinson stated future Input Output ventures will follow technical and commercial fit rather than automatic Cardano-first deployment.
- Update
Input Output proposed Pogun to Cardano treasury
Pogun requested 12.29 million ADA for Bitcoin DeFi development.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CryptoSlate Crypto media | Charles Hoskinson says Cardano no longer comes first – its treasury vote explains why | Original |
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