Charles Hoskinson, the founder of Cardano, recently proposed a significant plan regarding stablecoins, aimed at enhancing the overall practicality and capital flow efficiency of the Cardano ecosystem in financial applications.

According to this proposal, the Cardano treasury will convert approximately $100 million worth of ADA assets into the platform-supported stablecoin USDM. It is worth noting that the treasury currently holds about 1.7 billion ADA, which indicates a fairly abundant resource.

In addition to the asset conversion, the plan also proposes a collaboration with the internationally renowned hedge fund Brevan Howard, leveraging its expertise in capital operations and market participation to enhance the total value locked (TVL), trading depth, and liquidity performance of the entire ecosystem, thereby laying a more solid foundation for the DeFi development of Cardano.