Charles Hoskinson, co-founder of Cardano, suggested converting $100 million worth of ADA tokens into bitcoin and stablecoins like USDM and USDA. This proposal aims to enhance Cardano’s decentralized finance (DeFi) potential and stablecoin ecosystem, increasing the total value locked (TVL) from about 10% to a target of 30-40%. Currently, Cardano's TVL stands at $356 million, with only $31 million in stablecoins minted on-chain, in stark contrast to Solana’s $9.8 billion in TVL and $11 billion in stablecoins. Hoskinson dismissed concerns regarding the market impact of selling ADA, calling critics inexperienced, and emphasized that the sale would not disrupt liquidity. His views are in sharp contrast to Cardano Foundation CEO Frederik Gregaard, who previously stated that TVL is not a significant metric for adoption. Hoskinson considers the current state of stablecoins as detrimental to Cardano's progress and believes this strategy could create non-inflationary revenue for the DeFi ecosystem.

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