Cardano Copper Proposal Draws 0.24% of DRep Voting Power

A Cardano (ADA) request to withdraw 22 million ADA from the network’s treasury for a tokenized copper reserve had support equal to 0.24% of delegated representative (DRep) voting power in a Sunday snapshot, well below the approval threshold. At 12:13 p.m. ET (16:13 UTC) Oct. 25, the Cardano governance tally showed 12.55 million ADA in support, 879.46 million ADA against, or 16.66% of voting power, and 4.52 billion ADA uncast, or 83.11%. The Constitutional Committee had not voted. Both DReps and the committee must meet a 67% ratification threshold. Toto Finance Inc. submitted the request Oct. 15. Its budget assigns 14,724,409 ADA, or 66.93% of the total, to copper purchases.

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