🔥 CHARLES HOSKINSON SUGGESTS SELLING 100 MILLION ADA TO BUY BITCOIN AND STABLECOIN
Charles Hoskinson, co-founder of Cardano, recently proposed using 100 million ADA from the reserve fund to convert into stablecoins (such as USDM and USDA), with a portion to be exchanged for Bitcoin to develop DeFi related to Bitcoin on the Cardano platform.
In response to concerns that selling a large amount of ADA could affect the price, Hoskinson countered that those who are worried are inexperienced and asserted that this would not cause any issues.
Hoskinson's goal is to raise the proportion of stablecoins and total value locked (TVL) on Cardano to about 30% to 40%, while currently only achieving about 10%.
According to data from DefiLlama:
– Cardano currently has a TVL of about 356 million USD, but only 31 million USD in stablecoins issued on-chain
– Meanwhile, Solana is leading with a TVL of up to 9.8 billion USD and 11 billion USD in stablecoins issued on-chain
