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Cardano rejects $12.29M funding for Input Output's Pogun, shifting product launches off Cardano.

Protocol Fundamentals
21 Sep 2026, 12:23 WIB
Blockonomi
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Bearish
Cardano rejects $12.29M funding for Input Output's Pogun, shifting product launches off Cardano.

Cardano's delegated representatives voted down a $12.29 million funding request for Input Output's Pogun project, designed to integrate Bitcoin into decentralized finance. Although the Constitutional Committee unanimously approved the proposal, the DRep vote fell short, blocking the funding. As a result, Input Output's CEO Charles Hoskinson announced the company will no longer default to building products on Cardano, though two projects, RealFi and Pogun, are still expected to launch on Cardano by the end of 2026. Without treasury funding, Pogun may launch on other networks, potentially reducing Cardano's future revenue and transaction activity from this project.

Cardano's ADA price rose 8.35% to Rp4,202 with a typical hold time of 126 days on Pluang, providing context for the recent rejection of a $12.29 million funding request for Input Output's Pogun project. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Sep 21, 2026 16:11 WIB: 44 of 50 major cryptocurrencies rose today, including DOT up 9.17% at Rp21,018 and LUNC up 8.26% at Rp0.985, while ADA saw a Pluang order activity split of 44% Sell and 56% Buy.

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