A Shelley to hope to finally be able to compete with Ethereum (ETH): after the recent launch of the new version of its network, Cardano (ADA) now wants to challenge Ethereum in the field of DeFI. Charles Hoskinson has optimistically announced the birth of his unborn baby, a stablecoin that is said to overtake DAI.
A DeFi that obsesses
Charles Hoskinson lifts the veil on his interest in Challenge and on its level of potential engagement upon entering the sector.
Hoskinson revealed at one of its recent sessions AMA, his new obsession with DeFi, an obsession that has given rise to “hundreds of pages of reports, numerous interviews and discussions. “
The founder of Cardano also touched on a word about their partnership with Emurgo, for the joint development of a stablecoin.
The latter will initially be based on Ergo, time to make sure everything is working correctly, before it is transferred to Cardano. According to Hoskinson, this algorithmic stablecoin will be better than MakerDAO.
A second place better than the first
The Challenge explodes with an expected TVL of 19 digits and DeFi cryptos who saw their price jump by tens of thousands of dollars, one of which even entered the 6-figure club, while Bitcoin (BTC) is struggling to stay above 10,000 USD at the moment.
This explosion of figures paradoxically gives DeFi a bad image, that of a financial bubble which will sooner or later explode.
This recent study on number of active addresses in DeFi demonstrates, however, that these fears are unfounded, despite the high increase current sector.
Cardano is not one of the pioneers of DeFi and this does not bother Charles Hoskinson who thinks on the contrary that the latter will take advantage of the path opened by the first entrants.
Cardano thus intends to take advantage of the momentum resulting from increased competition and the current boom in the sector.
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Does the perfect stablecoin exist? We are waiting for this famous DAI-killer who already carries the weight of Hoskinson’s promises on his shoulders. The engagement of new crypto and blockchain projects in DeFi should benefit Ethereum, whose network is struggling to bear the weight of the sector today. Hoskinson has probably calculated the content and expected impact of his communication correctly. The future will tell us whether we will be entitled to a CQFD: a What He Should Disassemble or a What He Should Doubt?
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