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, and the ecosystem's self-sustaining capability has led to a long-term treasury fund utilization rate of less than 7%.