The stablecoin proposal for Cardano (ADA) at #卡尔达诺稳定币提案 is centered around algorithmic mechanisms and over-collateralized reserves, combined with a dynamic stability fund to ensure price anchoring. Representative projects include:

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

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

3. Privacy stablecoin: Planned for launch in 2025, it aims to balance compliance and anonymity through selective disclosure mechanisms to meet anti-money laundering requirements. Challenges include regulatory uncertainty, smart contract security, and market volatility risks, but its decentralized governance and transparency design lay the foundation for ecological development.