The co-founder of Cardano, Charles Hoskinson, launched the idea of converting $ 100 million of Ada tokens into Bitcoin
and stablecoins.
“We could take $ 100 million from ADA in the Treasury, convert it into a mixture of stablescoins in place in Cardano for USDM and USDA and convert a part into Bitcoin into Bitcoin Defi Prime,” said Hoskinson on a live Youtube flow.
He then retaliated to criticisms who said that a sale of $ 100 million would have an impact on the ADA price, calling them “inexperienced” before adding that the sale “would cause no problem”.
The objective of the sale would be to pass the ratio of the emission of Stablecoin and TVL to around 30% to 40% compared to the approximately 10% in progress.
The total value locked on Cardano amounts to $ 356 million with only $ 31 million in stable chain, according to Defilma data.
Solana has $ 9.8 billion on TVL and for $ 11 billion in stable chain stables.
In a tweet, Hoskinson said that the situation of Stablecoin “kills Cardano” and that the proposal would generate “non -inflationary income” and help build the Cardano Defi economy.
Hoskinson’s comments disagree with those of the CEO of the Cardano Foundation, Frederik Gregard, who told Coindesk in March that TVL was not a metric that he used for adoption.
