Cardano Aims to Lead Bitcoin DeFi but Lacks Clear Leadership
Cardano aims to establish itself as a hub for Bitcoin DeFi. Founder Charles Hoskinson states that recent upgrades need better messaging to attract users and investors.
Network Enhancements
- Introduction of Leios, a smart contract framework
- Launch of Hydra for faster transactions
- Midnight Glacier Drop to enhance data privacy for on-chain applications
- Minswap is set to support Bitcoin, accessing a $2 trillion liquidity pool
- Lace Wallet gaining popularity among users, and USDM stablecoin is increasing in use
We got Leios, Hydra, Midnight, and Bitcoin DeFi alongside governance, security and decentralization. Bitcoin DeFi is indeed the largest opportunity, but the single biggest issue is that we are missing a competent Foundation and executive authority to push these narratives into… https://t.co/t3j4ULTTe8
— Charles Hoskinson (@IOHK_Charles) June 29, 2025
Leadership Concerns
Hoskinson highlights a lack of effective leadership within Cardano to influence market perceptions. Some community members have criticized his narrative approach.
Future Directions
- Input Output Global (IOG) will continue to support Cardano's development
- Upcoming Rare Evo conference aims to address governance issues and update Cardano’s constitution
- Discussion of establishing a sovereign wealth fund for Bitcoin DeFi
- Previous proposal to convert $100 million in ADA into stablecoin liquidity generated significant debate
Cardano's success may depend on combining technological advancements with a cohesive narrative to attract attention and funding in the evolving Bitcoin DeFi landscape.