The Cardano stablecoin proposal (#卡尔达诺稳定币提案 ) is centered around an algorithmic mechanism, combining excessive collateral reserves and a dynamic stability fund to achieve price anchoring. Its representative projects include:

1. Djed: Adopts a dual-token model (DJED and SHEN), managing collateral and price governance through smart contracts, with an emergency reserve mechanism (400-800% collateralization rate) to respond to market fluctuations;

2. Ardana and COTI: Based on excessive collateral diversified asset reserves, integrating ADA and fiat stablecoins, relying on the efficiency and scalability of the Cardano blockchain. In the future, Cardano plans to launch a privacy stablecoin to achieve cash-like anonymity under compliance, meeting anti-money laundering requirements through selective disclosure, expected to be implemented in 2025. Challenges include regulatory uncertainty, smart contract security, and market volatility risks, but its decentralized governance and transparent design lay the foundation for ecological development.