The stablecoin development in the Cardano ecosystem, represented by #卡尔达诺稳定币提案 , is starting to take shape, with USDA and USDM driving a 30% month-over-month increase in stablecoin market value, approaching 30 million dollars. However, compared to Ethereum and others, the market value of Cardano's stablecoins accounts for only 9.65% of the total locked value, showing a significant gap. Currently, there is a proposal to convert a portion of ADA into the stablecoin USDM to improve liquidity, but it also faces controversy regarding market risks.