According to Foresight News, Cardano founder Charles Hoskinson has suggested using $100 million worth of ADA from the treasury to convert into Bitcoin and stablecoins, including USDM and USDA. This proposal aims to enhance the proportion of stablecoins within the Cardano ecosystem and its decentralized finance (DeFi) sector.
Hoskinson assured that this move would not negatively impact the ADA market and countered concerns about liquidity. Currently, stablecoins on the Cardano blockchain account for only about 10% of the total value locked (TVL), which is significantly lower compared to Solana's stablecoin ecosystem.
This proposal contrasts with the views of Cardano Foundation CEO Frederik Gregaard, who previously emphasized that TVL is not a critical metric for evaluating the ecosystem's success.