Cardano Developer Seeks Reduced Funding of $46.8 Million for Expansion and DeFi Integration

The company behind the Cardano blockchain, Input Output, is seeking a reduced amount of funding from the project's community treasury, marking a shift towards greater financial independence. The nine proposals, which total $46.8 million, focus on scaling the network to increase its transaction capacity and expanding into the Bitcoin DeFi space. This reduction in funding is part of a plan to decrease Input Output's reliance on community funds, with the goal of becoming self-sufficient through its own revenue. By the end of 2026, smaller teams are expected to take on a significant portion of the work currently handled by Input Output. The proposals include a consensus upgrade called Leios, which aims to increase Cardano's transaction processing capacity, and a system called Pogun, which will enable Bitcoin-based decentralized finance on the network. Voting on the proposals will run from Tuesday to May 24, and the outcome will indicate whether the Cardano community is willing to treat Input Output like any other grant applicant or continue to approve its requests based on its historical role in the project.