Cardano DReps Reject Pogun Proposal, IOG Shifts Priority to Network Selection

Cardano's treasury has retained 12.29 million ADA after its delegated representatives (DReps) voted down a proposal to withdraw funds for Input Output's Pogun Bitcoin DeFi product.

The proposal, which was put forward on-chain, asked for the ADA in exchange for a revenue-sharing agreement with Cardano. However, only 35.67% of DRep voting power supported the request, while 64.33% opposed it.

As a result, Input Output (IOG) will no longer default to launching future products on Cardano. Charles Hoskinson, CEO of IOG, stated that IOG would now choose the network that best serves each product instead of automatically prioritizing Cardano.

Hoskinson also mentioned that despite the vote's outcome, Pogun is still expected to arrive within 90 days, around mid-December 2026. The ecosystem hosting Pogun has yet to be disclosed, and it remains unclear which chain will capture the revenue share Cardano walked away from.

IOG also announced that RealFi, another initiative, is set to launch on Cardano in October 2026, providing a near-term test for Cardano holders beyond the news.