Cardano Delegate Switches to NO Vote on $62M ADA Treasury Proposal

Cardano delegate with 66.94M ADA voting power switches to NO on IO & Ensurable Systems’ 62M ADA treasury proposal.

A Cardano delegate controlling 66.94 million ADA voting power has switched to a NO vote on the “IO & Ensurable Systems: Cardano Maintenance Initiative.”

The proposal seeks a treasury withdrawal of more than 62 million ADA.

The delegate said the decision was made on behalf of loyal delegates, citing concerns about leadership conduct, budget detail, and financial accountability.

Delegate Changes Position on Treasury Vote

The delegate said the vote was changed from YES to NO after further review. The earlier plan was to support the proposal, which was presented as a way to maintain Cardano’s operational base.

The delegate said confidence in current leadership had declined. The statement said the mandate was too large to approve without stronger trust in delivery and oversight.

“I cannot in good conscience deploy my delegates’ voting power to endorse this request under its current conditions,” the delegate said.

The vote represents 66.94 million ADA in delegated power. That amount gives the decision weight in the governance process around the Cardano treasury proposal.

Concerns Raised Over Leadership Conduct

The delegate raised concerns about recent public conduct by leadership. The statement said professional behavior is needed when seeking public treasury funding.

According to the delegate, Cardano is viewed as a mature and enterprise grade ecosystem. The delegate said public conduct should match that standard, especially during large funding requests.

The statement said recent actions caused brand damage and reduced trust in execution. It did not name specific events in the provided remarks.

The delegate said technical skill alone was not enough. The statement argued that leaders must also show financial clarity and professional standards.

As LiveBitcoinNews reported, a Cardano delegate recently backed the “IO: Cardano High Assurance Technical Collaboration” proposal with a 66.68 million ADA yes vote.

The proposal focused on smart contract security tools, formal verification, and easier developer onboarding.

The same delegate has now switched to a NO vote on the “IO & Ensurable Systems: Cardano Maintenance Initiative.”

The vote represents 66.94 million ADA in delegated voting power and relates to a treasury withdrawal request of more than 62 million ADA.

The delegate cited concerns over leadership conduct, budget transparency, and financial accountability.

The statement said support could return if a revised proposal gives clearer details on specific spending.

Read Also:

Budget Transparency Becomes Central Issue

The delegate also questioned the budget attached to the proposal. The request was described as more than 62 million ADA, with calls for a clearer breakdown.

The statement said the Cardano community should not approve broad funding requests without line item details. It described the current budget as opaque.

“Approving an opaque budget of over sixty two million ADA is fiscally irresponsible without a granular, line item breakdown,” the delegate said.

The delegate added that the treasury is finite and requires careful financial oversight. The statement said public funds need clear reporting and accountability.

The NO vote does not reject all future support for IOG or related work. The delegate said the team’s work was appreciated and invited a revised proposal.

The statement said a future proposal with more detail on specific spending would be welcome. For now, the delegate’s position remains a firm NO.

The post Cardano Delegate Switches to NO Vote on $62M ADA Treasury Proposal appeared first on Live Bitcoin News.