Cardano News: DReps’ Pogun Vote Opens a New Chapter for ADA

In Cardano news today, the delegated representatives voted down a request to withdraw 12.29 million ADA from the community treasury to fund Input Output’s Pogun Bitcoin DeFi product. The final Koios summary recording 35.67% of DRep voting power in favor, against 64.33% opposed.

The ADA stays in the treasury, but Cardano also forfeits the revenue-sharing terms Input Output had attached to the deal, and Charles Hoskinson has since said IOG will no longer default to launching future products on Cardano.Pogun is Input Output’s pitch for bringing Bitcoin into decentralized finance through a credit market, a yield product, and a BitVM-powered trust-minimized bridge.

The rejected on-chain proposal asked for 12.29 million ADA and tied repayment to quarterly earnings before interest, taxes, depreciation, and amortization, with the calculation anchored to $2.95 million in EBITDA.Cardano (ADA)24h7d30d1yAll timeInput Output’s April 2026 overview had promised 20% of Pogun earnings back to the treasury until the initial funding was repaid, followed by a perpetual 5% return on Cardano-related products.

The on-chain proposal that DReps actually voted on carried no explicit exclusivity covenant.Cardano governance requires sign-off from both the Constitutional Committee and DReps for a treasury action to pass.