The founder of Cardano, Charles Hoskinson, proposed converting a $100 million reserve of $ADA into #Bitcoin (BTC) and local stablecoins USDM and USDA to strengthen the ecosystem.
Hoskinson rejected concerns that this move would have a negative impact on the market, stating:
"Keeping the stablecoin/TVL ratio at 10% is killing Cardano."
Currently, Cardano's total locked value (TVL) is $356 million, of which only $31 million consists of stablecoins.
According to Hoskinson, increasing stablecoin volume is critical for reviving liquidity in the ecosystem, promoting DeFi applications, and becoming more competitive.