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#卡尔达诺稳定币提案 ADA Stablecoin Proposal Key Points

1. USDM and USDA Fiat-backed Stablecoins

Cardano plans to launch fiat-backed stablecoins USDM and USDA through Emurgo and Mehen Finance, respectively anchored 1:1 by US dollar reserves, complying with regulatory requirements. USDM verifies reserve transparency through third-party Oracles, supports on-chain exchanges and KYC processes, aiming to provide compliant liquidity.

2. Djed Algorithmic Stablecoin

Based on an over-collateralization mechanism, users mint Djed by collateralizing ADA or SHEN, dynamically adjusting the collateralization ratio (400%-800%) to maintain the US dollar peg. Smart contracts automatically adjust supply by destroying or issuing stablecoins to respond to price fluctuations, while supporting privacy protection features (such as zero-knowledge proofs).

3. Treasury Fund Deployment and Revenue Cycle

Founder Hoskinson proposed converting 140 million ADA (approximately 100 million USD) into stablecoins, reducing market impact through OTC and TWAP trading, with an annual yield of 5%-10% used to repurchase ADA, feeding back into the treasury, creating a self-sustaining growth model.

4. Ecological Impact and Controversy

The stablecoins will enhance Cardano DeFi liquidity (current TVL is only 356 million USD, with stablecoins accounting for less than 10%), attracting venture capital participation. However, DReps are concerned that direct sales of ADA may trigger market pressure, suggesting prioritization of minting crypto-collateralized stablecoins (such as ObyUSD).

5. Future Plans

Plans to integrate privacy stablecoin protocols, combining limit orders on on-chain DEXs with liquidity mining, promoting cross-border payments and compliant applications, with the goal of becoming a decentralized financial infrastructure. $ADA