The recent stablecoin proposal by Cardano (#卡尔达诺稳定币提案 ) demonstrates its ambition to further expand the DeFi ecosystem. Compared to other public chains like Ethereum and Tron, Cardano's progress in the stablecoin field has been relatively slow. If this proposal can be implemented, it will fill an important gap in its ecosystem for payments, lending, and asset issuance. The key issue is whether the design mechanism of the stablecoin is robust enough to withstand volatility and comply with regulations, such as whether to choose over-collateralization, algorithmic models, or fiat currency reserves. This will significantly impact its acceptance and risk assessment. Furthermore, stablecoins are also at the core of on-chain capital flow; the ability to attract users and developers to join is a key indicator in evaluating the value of this proposal.