The Cardano stablecoin proposal #卡尔达诺稳定币提案 is centered around an algorithmic mechanism, combining over-collateralized reserves and a dynamic stabilization fund, aiming to achieve price anchoring. Its representative projects include:

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 ratio) to cope with market fluctuations;

Ardana and COTI: Based on over-collateralized diversified asset reserves, integrating ADA and fiat-backed stablecoins, relying on the efficiency and scalability of the Cardano blockchain.

In the future, Cardano plans to launch a privacy-focused stablecoin, achieving cash-like anonymity under compliance requirements, meeting anti-money laundering obligations 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 a foundation for ecological development.