The proposal for the Cardano stablecoin worth 46,125,204,655 is put forward by Cardano founder Charles Hoskinson, aiming to enhance the liquidity of stablecoins within the Cardano ecosystem. The specific details are as follows:

• Fund Conversion: It is proposed to convert $100 million worth of ADA (Cardano's cryptocurrency) in the Cardano treasury into the Cardano-native supported stablecoin USDM. The Cardano treasury currently holds approximately 1.7 billion ADA.

• Collaborating Partners: After the conversion, it is proposed that Cardano could collaborate with the major hedge fund Brevan Howard to enhance key activities within the ecosystem, including Total Value Locked (TVL) and market making.