IS IT POSSIBLE???
The founder of Cardano (ADA) Charles Hoskinson, who drew the market's attention with his statements, announced his $100 million proposal.
According to Coindesk, Charles Hoskinson proposed to convert the $100 million ADA reserve into Bitcoin (BTC) and local stablecoins USDM and USDA to revitalize and strengthen the DeFi and stablecoin ecosystem.
"We can take $100 million ADA from the state treasury, convert it into a mix of stablecoins on Cardano, namely USDM and USDA, and convert a portion into Bitcoin, making it Prime Bitcoin DeFi."
Hoskinson stated that with this proposal, he intends to increase the stablecoin-TVL ratio from 10% to 30-40%. Hoskinson said that the current stablecoin-TVL ratio of 10% would be detrimental to Cardano.
According to DefiLlama data, Cardano's total TVL is $356 million, while the value of printed stablecoins is only $31 million.
