#卡尔达诺稳定币提案

The core logic of the stablecoin proposal put forward by the Cardano Foundation is to support the DeFi ecosystem by releasing the liquidity of ADA held by the treasury, but this mechanism has structural contradictions. Currently, the total market value of stablecoins on the Cardano chain is only 30 million USD (compared to 8.32 billion USD on Ethereum during the same period), and the ecosystem's self-sustainability ability has led to a long-term utilization rate of treasury funds below 7%.

It is worth noting that this proposal allows project parties to apply for ADA staking pool funds through governance proposals. According to on-chain data monitoring, by Q1 2025, ADA worth 47 million USD had already been allocated to the "Ecological Construction Fund," but 63% of the receiving wallets for these funds transferred the tokens to cold wallets on exchanges within three months. This phenomenon validates market concerns—some project parties may be misreporting development progress to siphon off treasury funds.