The refund occurred through two transactions on October 20 and October 21. The first transaction returned 55,172 $ADA, while the second transferred another 60,000 $ADA, bringing the total refund to 115,172 $ADA.
At $ADA’s stated price of $0.2039, the returned funds were worth $23,483.
Notably, this marked Intersect’s first use of the SweepTreasury function on Cardano’s mainnet. The function enables administrators to return unused budget allocations to the treasury instead of leaving the funds with the organization managing them.
Intersect’s return of 115,172 $ADA highlights a practical development in Cardano’s treasury governance. Beyond approving withdrawals to finance ecosystem projects, the network now has a demonstrated mechanism for recovering funds that remain unspent.
Cardano Completes the Treasury Funding Cycle
The refund demonstrates how Cardano’s treasury administration system can support the full lifecycle of an approved budget, from initial funding and vendor payments to the recovery of unspent funds.
Intersect developed the TRSC with functions, such as Funding, Disbursing, Reorganizing, and SweepTreasury. While the first three support funding and payment administration, SweepTreasury provides a mechanism for returning unused funds to the treasury.
Before the October 20 and 21 transactions, Intersect had not used the refund function on mainnet. Its successful execution therefore demonstrates that the mechanism works in practice, rather than existing solely as a technical capability.
Furthermore, Intersect confirmed that every project in the 2026 budget cycle now has an on-chain smart contract.
Cardano Treasury Balance Falls by 232.5 Million $ADA in 12 Months
Meanwhile, data from the Cardano Foundation shows that the network’s treasury holds 1.4 billion $ADA after recording a net decline of 232.5 million $ADA over the past 12 months.
During that period, the treasury generated an estimated 281.7 million $ADA in income from reserves and fees. However, withdrawals reached 532.4 million $ADA, substantially exceeding the income generated.
The treasury also received 21.3 million $ADA in donations through epoch 657, providing an additional source of funding.
