The Cardano ecosystem desperately needs a USD-backed stablecoin
When I look at the Cardano ecosystem and compare it to other platforms, I have to be happy with the development. Cardano is a young platform so it needs more time to establish itself. But one thing is worrying at first glance.
When I look at the Cardano ecosystem and compare it to other platforms, I have to be happy with the development. Cardano is a young platform so it needs more time to establish itself. But one thing is worrying at first glance.
The Cardano ecosystem lacks the standard USD-backed stablecoins USDT and USDC. This may hinder growth. We desperately need a USD-backed stablecoin.
Cardano's position among older projects? Let's take a look at the stats from Defillama first. The information may not be complete and accurate, but at least it's from one source. Note that the number of deployed applications and TVL is not the determining factor for the number of users.
On Ethereum, you can use 838 apps and TVL is 26.3B USD. The number of active users is roughly 320K. On Cardano, according to Read article: The Cardano ecosystem desperately needs a USD-backed stablecoin
Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.
If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us
