#卡尔达诺稳定币提案

Cardano's $100 Million 'Gamble': Hoskinson's Proposal Sparks Community Debate and Market Turmoil

A bold proposal by Cardano founder Charles Hoskinson has sent shockwaves through the crypto community—planning to use about **$100 million** worth of 140 million ADA from the Cardano Foundation's treasury to purchase Bitcoin (BTC) and Cardano's native stablecoins (USDM, USDA, IUSD) to stimulate the development of its DeFi ecosystem.

Upon the announcement, the market reacted swiftly and negatively, with ADA's price dropping **6%**. The community is sharply divided on the issue:

* **Supporters** believe this is a necessary move to mature the ecosystem. Purchasing Bitcoin could increase the diversity and stability of treasury reserves, while a large acquisition of native stablecoins like USDM, USDA, and IUSD would directly inject crucial liquidity into Cardano's DeFi applications (such as DEX, lending protocols), reduce user transaction friction, attract more funds and users, and ultimately benefit the ecosystem's prosperity in the long run.

* **Opponents**, however, are deeply concerned. Critics point out that using a large ecological fund for such investments poses too high a risk in the current volatile market environment. A more fundamental controversy lies in the governance model—whether such a significant decision regarding fund allocation is sufficiently decentralized and whether it has undergone adequate community discussion and authorization. Some opinions bluntly state that this move resembles “**betting with shareholders' money**,” undermining the interests of token holders.

**Short-term Pain vs Long-term Value?**

The immediate drop in ADA reflects the market's concerns about potential risks and governance transparency. If this proposal is ultimately implemented, its long-term value will entirely depend on its actual effectiveness: Can it significantly enhance Cardano's DeFi TVL, user activity, and overall competitiveness? If successful, it may prove to be a vision of foresight; if stablecoin adoption falls short of expectations or the market declines, it could become a burden, further undermining community confidence.

Is Hoskinson's blueprint a booster for the ecosystem or a dangerous gamble? The Cardano community is facing a critical choice.