Input Output has published a new Cardano treasury slate that puts two themes at the center of its 2026/27 pitch: scaling the base layer and pulling Bitcoin liquidity onto the network.

What is in the slate

On its Momentum site, IO lists nine proposals. The largest is a Consensus package asking for ₳27.7 million to move the Leios upgrade from its current testnet phase toward a mainnet-ready release candidate. The proposal says Leios is designed to raise throughput by 10x to 65x while preserving Cardano's existing Ouroboros approach.

A second flagship item is Pogun, a separate ₳12.29 million proposal for a Bitcoin DeFi stack. IO says it would ship an on-chain credit market in Q2 2026, a yield app in Q3, and a BitVM-powered bridge in Q4.

Why it matters

Across the nine proposal pages, the combined treasury ask adds up to about ₳162.1 million, or roughly $46.8 million at current ADA prices, matching the figure cited by CoinDesk. The proposal set shows Cardano's core builder tying a large treasury request to two concrete technical goals instead of a broad ecosystem narrative.

The conservative read is that DReps are being asked to fund a specific roadmap: more base-layer throughput through Leios, and a clearer attempt to bring Bitcoin liquidity into Cardano through Pogun. Whether the full slate passes or not, the package makes those two priorities explicit for the next Cardano budget cycle.