Cardano rejects 12.29M ADA treasury request

• Cardano (CRYPTO:ADA) voters have rejected a 12.29 million ADA treasury request for Input Output’s Pogun project.
• DReps voted 64.33% against the proposal, while the Constitutional Committee separately approved it.
• Charles Hoskinson has said Input Output will no longer put Cardano first for every product.

Cardano (CRYPTO:ADA) governance has rejected a 12.29 million ADA treasury request for Input Output’s Pogun project.

DReps voted 64.33% against the proposal, leaving it without the approval needed to advance.

“We’re no longer operating under a deploy on Cardano first and forever mindset,” Hoskinson said.

The proposal would have given Cardano 20% of Pogun earnings until the initial funding was repaid, followed by 5% on Cardano-related products.

The Constitutional Committee separately recorded seven votes in favour, showing a different outcome from the DRep vote.

Hoskinson has said Input Output will choose networks based on each product’s technical and commercial needs rather than automatically using Cardano.

Pogun is still planned for Cardano, while Hoskinson has also said RealFi is targeted for October and Pogun for roughly 90 days after his September 18 broadcast.

At the time of reporting, Cardano price was $0.2295.