Cardano co-founder Charles Hoskinson has proposed converting $100 million worth of (CRYPTO: ADA) from the protocol’s treasury into a mix of stablecoins and Bitcoin (CRYPTO: BTC).
The move, if implemented, would mark a significant step toward addressing the network’s low stablecoin liquidity and laying the groundwork for a decentralized sovereign wealth fund.
Speaking in a video message on June 12, Hoskinson explained the motivation behind the proposal: “Cardano has a disproportionately low ratio of stable coin issuance to our DeFi, it sits a little under 10%.”
By contrast, Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) record significantly higher ratios, at around 190% and 110% respectively, he said.
Hoskinson said the idea is still under internal review.
“What I’d like to see is, could we take about a …