$ADA Charles Hoskinson's proposal essentially aims to crack the 'stablecoin dilemma' of the Cardano ecosystem, but the market panic and community division triggered by its execution path reveal a profound contradiction between decentralized governance and short-term interests. The market value/TVL ratio of Cardano's stablecoins is only 9.65%, far lower than Ethereum and Solana, hindering the development of DeFi applications. Utilizing 140 million ADA from the treasury in exchange for stablecoins like USDM to inject into the ecosystem, with an annual yield target of 5%-10%.

Hoskinson's proposal directly addresses the fatal flaw of the 'stablecoin anemia' in the Cardano ecosystem, but converting 100 million dollars is like running on a high wire – success activates the heart of DeFi, while failure plunges into the abyss of trust.