#卡尔达诺稳定币提案 Cardano Stablecoin Proposal In the short term, its privacy stablecoin plan (such as selective disclosure mechanisms) may attract privacy-focused institutional users, breaking through the EU's 2027 ban on privacy coins through compliant pathways, but it must balance regulatory scrutiny pressures. In the medium term, on the ecological level, through over-collateralization mechanisms (such as the Djed dual-token design) and the injection of stability funds, it is expected to alleviate the liquidity shortage issue in Cardano DeFi, but the founder's proposal to convert 140 million ADA in the treasury may trigger concerns about selling pressure, exacerbating market volatility; in the long-term strategy, the integration of privacy features with RWA (such as USDA pegged to the dollar and tokenized government bonds) could promote Cardano as a bridge connecting traditional finance and the crypto ecosystem, but it must address the challenges of the USDT/USDC duopoly in the market landscape. If this proposal is successfully implemented, it could reshape Cardano's competitiveness in the fields of payments, cross-border settlement, and asset management.