Cardano founder Charles Hoskinson has proposed a significant strategic move, suggesting the conversion of $100 million worth of ADA tokens into Bitcoin and stablecoins. This proposal aims to inject real liquidity into Cardano’s decentralized finance (DeFi) ecosystem, which currently lags behind competitors in terms of stablecoin adoption and user activity. Hoskinson pitched the plan, suggesting that the $100 million worth of ADA be swapped into a mix of Bitcoin, USDM, and USDA. The primary goal is to supercharge Cardano’s DeFi scene by increasing stablecoin activity and kickstarting Bitcoin DeFi on the network.
