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IOHK’s proposal to secure 12.29 million ADA, or about $2.95 million, in support for its Bitcoin DeFi project Pogun was ultimately rejected in a Cardano decentralized governance, or DRep, vote, CryptoSlate reported. Following the result, CEO Charles Hoskinson announced IOHK will no longer give Cardano top priority when launching new products and will instead strengthen its multichain strategy.