Cardano founder proposes to exchange $100 million worth of ADA for Bitcoin and stablecoins

ChainCatcher news, according to CoinDesk, Cardano founder Charles Hoskinson proposed in a live broadcast to use 100 million ADA from the treasury to exchange for Bitcoin and stablecoins (USDM, USDA) to increase the proportion of on-chain stablecoins and enhance the DeFi ecosystem.

Charles Hoskinson stated that this move would not impact the ADA market and refuted liquidity concerns. Currently, on-chain stablecoins on Cardano account for only about 10% of TVL, far lower than the stablecoin ecosystem scale of Solana. This proposal diverges from the viewpoint previously emphasized by Cardano Foundation CEO Frederik Gregaard that "TVL is not a key metric."