Pogun Bitcoin Credit Market Mainnet Launch
Cardano (ADA) · Releases & Updates · ~ Q4 2026
Pogun's oracle-free Bitcoin credit market, which missed its Q2 target, is now expected by around mid-December 2026 per Charles Hoskinson; it will not be exclusive to Cardano.
Pogun is Input Output's end-to-end Bitcoin DeFi engine, designed to put idle Bitcoin to work as productive capital. Phase 1, originally targeted for Q2 2026, is now expected by around mid-December 2026 according to Charles Hoskinson (September 18 broadcast). It is a fully on-chain, oracle-free non-margin credit market where borrowers and lenders negotiate loan terms directly via bilateral agreements. No oracle-driven liquidations: collateral is forfeited only on outright default, not intra-day price swings. Bond tokens are transferable, laying the foundation for a secondary on-chain debt market. Cardano DReps rejected a 12.29M ADA treasury request for Pogun, and Hoskinson said the product will not be exclusive to Cardano, although Cardano remains its planned deployment. The Pogun waitlist opened on August 27, 2026.
Last verified: · Source: cryptoslate.com
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