Cardano shifts $26M to USDCx as bridge controls freeze payouts
Photo: CryptoSlate
Some of Cardano’s development funding has already moved into dollar tokens, making ADA’s price a less direct guide to the work those budgets can support. The SundaeSwap treasury dashboard lists total scheduled budgets of 4,505,955 USDM for Intersect’s governance and technical stewardship work and 316,253.88 USDM for Se7en Labs’ Daedalus wallet program. Intersect, which administers treasury-funded projects, said on Oct. 2 that both withdrawals had been minted through Moneta Digital into USDM, a dollar stablecoin on Cardano, and placed in live smart contracts. After conversion, the token amount stays fixed as ADA moves.
Source: CryptoSlate
