Cardano stablecoin liquidity is only at 10.7% of its DeFi TVL, while Ethereum and its L2s are mostly over 100%.
This is exactly why we need the 'Stablecoin DeFi Liquidity Budget Proposal' to pass. it's critical for our DeFi and ecosystem growth.
We even saw this recently on Liqwid Finance, where depeg issues with $DJED and $iUSD caused real problems for the protocol. This just proves why we need the most reliable, collateralized stablecoins.
And while getting Tier 1 stablecoins integrated is important, we also have to grow Cardano's own native stablecoins now. The entire DeFi ecosystem can only expand if everyone has easy access to stablecoins, and for that, we desperately need sufficient liquidity.
The deadline is only 5 days away. We really need more people to get involved.
I think that, to support the growth of #Cardano DeFi ecosystem, stablecoin liquidity needs to increase significantly.
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As shown below, when comparing the stablecoin market cap to DeFi TVL, Cardano lags far behind other chains. Cardano sits at just 10.7%, while Ethereum and L2 chains like Arbitrum all exceed 100%.
(source: defillama)
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