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

The company behind the Cardano blockchain is seeking a reduced amount of funding from the project's treasury, marking a shift towards becoming self-sustaining. Input Output has submitted nine proposals for a total of $46.8 million, down from $97.5 million in the previous year. The proposals focus on enhancing the blockchain's scalability and expanding its presence in the DeFi space, particularly with Bitcoin. The reduced funding request is part of a plan to decrease dependence on community funds, with the goal of becoming self-sufficient through its own revenue. The company expects smaller teams to take over most of its current work by the end of 2026. Two key proposals include the Leios consensus upgrade, which aims to increase transaction processing capacity, and Pogun, a system designed to bring Bitcoin-based DeFi to Cardano. Other proposals cover improvements to the smart contract engine, security testing, and developer tools. Voting on the proposals will be open until May 24, and the outcome will be determined by roughly 1,000 elected delegates representing ADA holders.