Charles Hoskinson on Cardano DeFi and ADA Holders
Cardano founder Charles Hoskinson has responded to criticism about the network's total value locked (TVL) and decentralized finance (DeFi) growth.
Hoskinson acknowledged the gap between Cardano's DeFi activity and leading blockchains, but argued that the numbers fail to capture the network's broader participation and governance strength.
No one's ever made the argument and explained how the existence of one of these larger stablecoins is magically going to make Cardano's entire DeFi problem go away, make the price go up, massively improve our MAUs, our TVL, and all these other things.
Hoskinson defended Cardano's DeFi ecosystem, arguing that its low TVL reflects user behavior issues, rather than a lack of potential.
Author's summary: Hoskinson defends Cardano's DeFi ecosystem.