Based on The Crypto Basic, Cardano founder Charles Hoskinson has stated that the Midnight privacy sidechain could expand the network's DeFi ecosystem by tenfold. During a recent livestream, he addressed concerns that Midnight might weaken Cardano, arguing instead that it introduces programmable privacy, a feature missing in mainstream DeFi. Hoskinson emphasized that Midnight allows users to access privacy-preserving tools without leaving existing ecosystems like Ethereum or Solana. He also mentioned ongoing discussions to bring a Tier-1 stablecoin, including Ripple's RLUSD, to Cardano, which could further drive DeFi growth. Currently, Cardano's total value locked (TVL) stands at $178.98 million, significantly lower than Ethereum and Solana.
Hoskinson Says Midnight Could Boost Cardano's DeFi TVL by 10x
TheCryptoBasicShare
Summary
Cardano founder Charles Hoskinson said the Midnight privacy sidechain could boost DeFi TVL by tenfold. He argued Midnight supports ecosystem growth by adding programmable privacy, a missing feature in mainstream DeFi. Users can access privacy tools without leaving ecosystems like Ethereum. Hoskinson also mentioned talks to bring a Tier-1 stablecoin, including RLUSD, to Cardano. Current TVL is $178.98 million, trailing Ethereum ecosystem news.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.