Charles Hoskinson Proposes Cardano Treasury with $ADA and Top Native Tokens

The co-founder of Cardano, Charles Hoskinson, has come up with an ecosystem treasury plan. This ambitious effort seeks to awaken $ADA’s dormant reserves, giving rise to an interesting debate among Cardano users.

By incorporating $ADA, the Midnight token, and the top 50 Cardano native tokens, Hoskinson’s concept could establish a foundation for Cardano’s future in decentralized finance (DeFi). 

Backing $ADA and Native Tokens

In a strategic X post, Hoskinson described a digital asset treasury to back Cardano’s ecosystem, departing from his prior contentious idea of maintaining a Bitcoin reserve. That concept had drawn skepticism, with detractors claiming it relied too much on a competing initiative. 

At present, Hoskinson is dedicated to Cardano, working on a treasury reserve that supports $ADA, the privacy-focused Midnight token, as well as prominent native tokens like SNEK, World Mobile Token (WMTYX), Liquid Finance (LQ), Minswap (MIN), and Indigo Protocol (INDY), according to CoinGecko data. 

Cardano’s Treasury Plan: Top 50 Too Generous?

The proposed treasury aims to boost Cardano’s DeFi ecosystem and stimulate total value locked (TVL), firming its position in the competitive blockchain space. By enabling synergy among high-ranking native tokens, Hoskinson looks forward to a prosperous, interconnected Cardano network. 

Yet, the plan has mixed reactions from the crypto community. Some users have hailed the proposal, while others say the top 50 would be too generous. One user pointed out that the treasury should not be holding the native token.

A Defining Moment for Cardano

Hoskinson’s commitment to activate Cardano’s treasury highlights his devotion to a dynamic, ready-to-use ecosystem. With $ADA and its native tokens at the core of this proposal, Cardano’s growth will be determined.

Will this be the movement that propels Cardano to new heights? Crypto fans watch the developments closely.