The stablecoin development in the Cardano ecosystem, represented by #卡尔达诺稳定币提案 , is beginning to emerge, with stablecoins like USDA and USDM driving a 30% month-over-month increase in their market value, approaching 30 million USD. However, compared to Ethereum and others, the market value of Cardano's stablecoins accounts for only 9.65% of the total locked value, showing a significant gap. There is currently a proposal to convert some ADA into the stablecoin USDM to improve liquidity, but it also faces controversies regarding market risks.