Cardano Founder, $100 Million ADA Sale Proposal…Liquidity Strengthened Through BTC·Stablecoin Conversion

Charles Hoskins aiming to strengthen the stability of the Cardano project through Bitcoin acquisition (source: CoinGape)

According to Cointelegraph on the 13th (local time), Charles Hoskinson, the founder of Cardano (ADA), proposed selling approximately 100 million dollars worth of ADA stored in the Cardano Treasury and converting it to Bitcoin (BTC) and stablecoins (USDM, USDA).

Hoskinson explained, “Currently, the proportion of stablecoins in the Cardano ecosystem is only about 10% of the total locked-up value (TVL),” adding, “Through this proposal, we can expand that ratio to 30-40%, thereby simultaneously enhancing the ecosystem's liquidity and system stability.”

This proposal is scheduled to be discussed through Cardano community governance, and if implemented, it could bring about a significant change in Cardano's asset composition strategy. It is interpreted as an attempt by Cardano to more flexibly adjust the management of funds within the ecosystem, amidst the recent rise of stablecoins' role and collateral stability as a key issue in the cryptocurrency market.