Voting That Could Affect Cardano's (ADA) Fate Has Begun! Is There a Risk of a Sell-Off? Here Are the Details

The Cardano ecosystem is taking a major step toward capturing a share of the stablecoin market's ￰0￱ Cardano DAO has put a new proposal to the vote, aiming to inject $41 million in on-chain ￰1￱ proposal calls for the creation of a dedicated fund containing 50 million ADA coins (currently valued at $41 million) and fiat-backed stablecoins. 90% of this fund is intended to be allocated to decentralized exchanges (DEXs) and lending protocols, thereby increasing liquidity in Cardano's DeFi market. “There is a need for stronger liquidity in the Cardano ecosystem, particularly stablecoin ￰2￱ Cardano community benefits holistically from deep stablecoin liquidity,” the proposal ￰3￱ investments entered a significant upward trend in ￰4￱ to Coinbase's estimates, the stablecoin market could surpass $1 trillion by 2028.

Cardano's DeFi volume currently stands at $353 million, well behind giants like Ethereum and ￰5￱ founder Charles Hoskinson has also complained in the past that the ecosystem isn't growing fast enough and stablecoin integrations are slow. It's proposed that 15 percent of the revenue generated under the plan be converted back into ADA and collected in the treasury. However, the proposal also carries some ￰6￱ fund will require the sale of $27 million worth of ADA to mint a stablecoin. However, bidders state that these sales will not be made on the open market, but rather through over-the-counter (OTC) agreements with institutional ￰7￱ is also argued that the $27 million sale is lower than ADA's daily trading volume, so it will not put serious pressure on the price. *This is not investment ￰8￱ Reading: Voting That Could Affect Cardano's (ADA) Fate Has Begun!

Is There a Risk of a Sell-Off? Here Are the Details