5M ADA Treasury Loan Approved as Cardano Expands Exchange Presence
- Cardano Foundation votes yes on 5M ADA treasury loan for exchange listing expansion
- Proposal shifted from grant structure to repayable loan with advisory board oversight
- Constitutional committee reaches 85.71% approval, DReps show 75.98% support rate
The Cardano Foundation has voted in favor of a treasury withdrawal proposal requesting 5 million ADA to expand exchange listings for Cardano Native Tokens. The decision marks a reversal from the Foundation’s earlier position on the initiative.
The Snek Foundation team submitted the proposal last month seeking to increase international exchange access for tokens built on Cardano.
The withdrawal request carries the title “Loan ₳5,000,000 to Expand Cardano’s Global Listings.” The 5 million ADA is currently valued at approximately $2.11 million.
Foundation Shifts Position After Proposal Restructuring
The Cardano Foundation initially abstained from voting on the proposal in August, stating that additional clarification was needed before taking a position. More than two months later, the organization updated its stance and cast a yes vote.
The key change that influenced the Foundation’s decision involves restructuring the withdrawal from a non-repayable grant to a repayable loan format. The Foundation stated this adjustment adds accountability and improves long-term sustainability for the initiative.
Intersect will serve as administrator for the loan, and a qualified advisory board has been established to provide oversight. The Foundation noted these additions bring increased structure, transparency and professional management to the process.
The proposal has faced resistance from some community members. Cardano founder Charles Hoskinson previously stated that treasury funds would not be used to finance exchange listings for ecosystem tokens including SNEK and NIGHT.
Voting Shows Strong Constitutional Support
According to internal voting records, four constitutional yes votes were cast with no unconstitutional votes or abstentions. One entity did not participate in the vote. Constitutional committee support has reached six yes votes, accounting for 85.71% of participating members. One committee member abstained from the vote.
Among Delegated Representatives, 75.98% have voted in favor of the proposal. An additional 8.02% chose to abstain, while 16% have not yet cast their votes. The voting period opened on October 23, 2025, and is scheduled to close on November 25, 2025.
The Foundation also confirmed that earlier concerns related to a Budget Info Action have been resolved. Any remaining coordination issues between the budget info action and the loan withdrawal will be addressed in future governance steps, the organization stated.
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