Cardano’s delegated representatives let a 12.29 million ADA funding request from Input Output for the Pogun Bitcoin DeFi product expire without ratification, with 64.33% voting against the proposal. The Constitutional Committee had recorded unanimous support with seven yes votes, illustrating the separate functioning of governance bodies. Pogun offered to return 20% of earnings to the treasury until full repayment of the $2.95 million investment, followed by 5% on Cardano-related products. Charles Hoskinson stated that Input Output will now choose the best network for each product instead of following a Cardano-first policy, while confirming Pogun’s launch within 90 days of the September 18, 2026 broadcast. Cardano currently ranks #14 by market capitalization, down 0.68% over 24 hours.
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