BlockBeats reported on June 13, according to CoinDesk, that Cardano founder Charles Hoskinson proposed in a livestream to allocate $100 million worth of ADA from the treasury, converting it into Bitcoin and stablecoins (USDM, USDA) to increase the proportion of stablecoins on-chain and bolster the DeFi ecosystem.
Charles Hoskinson stated that this move would not disrupt the ADA market and refuted concerns about liquidity. Currently, stablecoins on the Cardano chain account for only about 10% of the Total Value Locked (TVL), significantly lower than the scale of Solana's stablecoin ecosystem. This proposal appears to be at odds with Cardano Foundation CEO Frederik Gregaard's earlier emphasis that "TVL is not a key metric."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.