22 hours ago
Cardano co-founder Charles Hoskinson has floated the thought of converting $100 cardinal worthy of ADA tokens into bitcoin BTC and stablecoins.
"We could instrumentality $100 cardinal of ADA successful the treasury, person it to a blend of stablecoins incumbent successful Cardano truthful USDM and USDA and person immoderate of it successful bitcoin to premier bitcoin DeFi," Hoskinson said connected a YouTube unrecorded stream.
He past deed backmost astatine critics that claimed a $100 cardinal merchantability would interaction the terms of ADA, calling them "inexperienced" earlier adding that the merchantability "would not origin immoderate problems astatine all."
The extremity of the merchantability would beryllium getting the ratio of stablecoin issuance and TVL to astir 30% to 40% versus the existent astir 10%.
Total worth locked connected Cardano stands astatine $356 cardinal with conscionable $31 cardinal worthy of stablecoins minted on-chain, DefiLlama data shows.
Solana meantime has $9.8 cardinal successful TVL and $11 cardinal worthy of stablecoins minted on-chain.
In a tweet Hoskinson said that the stablecoin concern is "killing Cardano" and that the connection would make "non-inflationary revenue" and assistance physique the Cardano DeFi economy.
Hoskinson's comments are astatine likelihood with those of Cardano Foundation CEO Frederik Gregaard, who told CoinDesk successful March that TVL is not a metric helium utilized for adoption.
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