Cardano Foundation Greenlights Treasury Withdrawal for Token Listings

TLDR

• The Cardano Foundation has approved a ₳5M loan to expand the global listings of Cardano Native Tokens.
• The proposal was initially framed as a grant but was later revised to a repayable loan, which gained the Foundation’s support.
• The proposal aims to increase the international presence of Cardano-based tokens, including SNEK and others.
• The Cardano Foundation emphasized increased oversight and transparency in the process through Intersect and an advisory board.
• A majority of constitutional members have supported the proposal, with 85.71% voting in favor.

The Cardano Foundation has approved a key treasury withdrawal proposal to expand the listings of Cardano Native Tokens (CNTs) on global exchanges. The proposal, submitted by the Snek Foundation, seeks to increase the international presence of Cardano-based tokens. Following a recent vote of confidence, the Foundation has approved a loan of ₳5,000,000 (approximately $2.11 million).

Cardano Foundation Casts a “Yes” Vote on Treasury Withdrawal

The Cardano Foundation initially abstained from voting on the proposal back in August. It had expressed concerns over the nature of the funds and required further clarification. However, the proposal has evolved since then, prompting the Foundation to shift its stance.

The proposal now requests a repayable loan instead of a non-repayable grant. This shift has contributed to the Foundation’s support, emphasizing increased accountability and long-term sustainability. The Foundation also cited the addition of an advisory board and the role of Intersect as an administrator as essential elements of oversight.

The Foundation has reinforced the need for transparency in managing the loan and ensuring that the funds are used responsibly. In a statement, it expressed confidence in the adjustments made to the original proposal. The voting record shows four “Yes” votes from constitutional members, with no abstentions or unconstitutional votes.

Concerns Resolved, Confidence Grows in Global Listings Initiative

The Cardano Foundation’s earlier concerns regarding coordination between the treasury action and budget info have now been addressed. The clarification on this matter helped pave the way for approval. The Foundation has also noted that the proposal has gained more constitutional support, with six “Yes” votes, amounting to 85.71% of support.

As of the most recent voting data, DReps have shown overwhelming support for the proposal, with 75.98% in favor. A smaller portion, 8.02%, has abstained from voting, while 16% have yet to cast their votes. The voting is scheduled to end on November 25, 2025.

The Cardano Foundation’s decisive move reflects its confidence in the updated proposal. It also signifies its growing support for initiatives that can foster greater adoption of Cardano-based tokens on international exchanges. This latest approval adds a new chapter to the ongoing development of the Cardano ecosystem and the global recognition of its native tokens.

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