The stablecoin proposal of $ADA was put forward by Charles Hoskinson, the founder of Cardano, aiming to enhance the liquidity of stablecoins within the Cardano ecosystem. The specifics are as follows:

• Fund conversion: It is proposed to convert $100 million worth of ADA (Cardano's cryptocurrency) from the Cardano treasury into USDM, a stablecoin natively supported by Cardano. The Cardano treasury currently holds approximately 1.7 billion ADA.

• Collaboration partner: After the conversion, it is proposed that Cardano could collaborate with the major hedge fund Brevan Howard to enhance key activities within the ecosystem, including Total Value Locked (TVL) and market making.