Cardano (ADA) to overcome 40% plunge... Hoskinson "Going all the way"

▲ Charles Hoskinson, Cardano (ADA), Midnight (NIGHT)/ChatGPT generated image

As Cardano (ADA) plunged by 40.71% this year, Charles Hoskinson stated, "We must finish what we started," and presented the conditions for the next growth phase.

According to The Crypto Basic on September 2 (local time), Cardano founder Charles Hoskinson explained the progress of the Constitutional Committee vote and pointed out changes across the ecosystem. He cited the launch of RealFi and Bitcoin (BTC) decentralized finance (DeFi) as new sources of liquidity. RealFi is expected to attract billions of dollars in Total Value Locked (TVL) over the next few years. He also stated that $600 million in non-binding investment intent has already been secured for Bitcoin DeFi through Pogun.

Hoskinson emphasized that while growth drivers are in place, core development tasks must be completed. He said, "We must finish what we started." First, he stated that the Leios upgrade for scalability improvement must be completed. He also stressed that related hard forks must be activated to apply the planned technical improvements to the actual network.

Governance overhaul was also cited as a major task. Hoskinson said that the final stages of institutional establishment must be completed and the capabilities of existing institutions strengthened. He emphasized the need for a continuously improving system where Cardano institutions operate independently. He also stated that a budget allocation structure capable of increasing efficiency annually must be established.

Market conditions are not easy. Cardano has fallen by 40.71% this year, dropping out of the top 10 by market capitalization. Despite this situation, Hoskinson emphasized that Cardano "has not dropped out of the competition" and "is running to win." Leios and RealFi are scheduled to be launched this year and are being pursued as major projects for scalability and liquidity expansion.

In the governance sector, the Constitutional Committee's proposal has received community approval. As a result, the committee can maintain more than five members. It can also continue voting on major network upgrades, including constitutional amendments related to Leios. Hoskinson emphasized that completing technical development and governance overhaul are key tasks to unlock Cardano's next growth phase.

[Article Key Summary]

-Charles Hoskinson emphasized that Cardano can only move to the next growth phase by "finishing what it started," including Leios and governance reforms.

-RealFi aims for billions of dollars in Total Value Locked, and $600 million in non-binding investment intent has been secured for Bitcoin decentralized finance through Pogun.

-Cardano has fallen by 40.71% this year, but it is pushing for scalability and liquidity expansion with Leios and RealFi.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*