Overview
- Input Output submitted nine treasury proposals totaling $46.8 million, about half its $97.5 million request approved for 2025.
- Roughly 1,000 elected delegates known as DReps are voting through May 24 in a test of whether governance treats the firm like any other grantee after new bodies assumed funding and software roles.
- The largest request backs Leios, a consensus upgrade that the company says could lift throughput 10 to 65 times to above 1,000 transactions per second, with a public testnet planned for June and a mainnet release candidate by year-end.
- A second flagship, Pogun, targets Bitcoin-based lending and yield on Cardano with a non‑margin credit market due in Q2, a retail yield app in Q3, and a BitVM-powered bridge in Q4 that uses a one‑of‑N security model.
- The slate ties payouts to delivery milestones under named leads, and the company says it will taper treasury dependence as specialized teams such as VacuumLabs and Midgard Labs take on more work by late 2026.