IOG CEO Charles Hoskinson publicly endorsed a revised governance proposal to fund Cardano’s presence at the 2026 Cardano Summit and TOKEN2049 in Singapore, marking a sharp reversal from his earlier opposition. The proposal requested 7.8 million ADA (approximately $2 million) from the treasury and passed with 66.67% community approval, just above the required threshold of 65.21%.
Hoskinson initially argued that conference spending would not drive token price appreciation, influencing many Delegated Representatives (DReps) to vote against the original plan. After governance debates and a revised proposal that cut the budget by 22%, removed the TOKEN2049 sponsorship tie, and added milestone payments and independent audits, he reconsidered. “Cardano is better together,” he said, urging votes in favor and pledging to elevate Cardano’s sponsorship to the Title Sponsor level for TOKEN2049.
Cardano Foundation CEO Frederik Gregaard also called for support, describing it as a collective effort to boost global visibility. EMURGO CEO Phillip Pon backed the reworked plan. However, the vote was contentious—some DReps abstained or voted no, citing fiscal discipline. The on-chain vote closed on May 29 with yes votes hovering near the 66.67% threshold, and the approval unlocks funds managed via a Sundae Labs smart contract, with unused ADA returned to the treasury.
The approval ensures Cardano’s prominent participation in the October events, which Hoskinson sees as vital for engaging developers, institutions, and investors, and for shaping blockchain’s future narrative.
