Crypto
Hoskinson Backs Multi-Billion-Dollar Bet on Cardano DeFi Growth
Cardano's decentralised finance (DeFi) ecosystem has seen a decline in total value locked (TVL), falling 1.70 percent over 24 hours to $68.17 million.
The majority of funds deposited in the ecosystem are in stablecoins, accounting for $64.21 million.
Cardano founder Charles Hoskinson presented a strategy to grow the DeFi ecosystem by complementing other blockchains rather than competing head-on.
Hoskinson mentioned three key initiatives: Cardano PRIME, RealFi, and Pogun, aimed at supporting growth over the next 12 months. The goal is to lift eligible TVL from about $90 million to more than $290 million within a year.