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Cardano is making moves to become a hub for Bitcoin DeFi. According to Cardano founder Charles Hoskinson, the network has rolled out a string of upgrades, yet it still needs a strong message to win over users and investors. He argues that without a clear voice steering the story, those technical gains risk getting lost in the noise.
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Network Champions New Features
Cardanoโs team has added Leios, a new smart contract framework, and Hydra, a layerโ2 scaling solution that promises faster transactions. Theyโve also launched the Midnight Glacier Drop, which aims to boost data privacy for onโchain applications.
Based on reports, Minswapโthe largest decentralized exchange on Cardanoโis preparing to support Bitcoin, with plans to tap into a $2โฏtrillion liquidity pool. At the same time, Lace Wallet is gaining traction among everyday users, and USDM, a stablecoin backed by dollar reserves, is picking up steam.
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 intoโฆ https://t.co/t3j4ULTTe8
โ Charles Hoskinson (@IOHK_Charles) June 29, 2025
Hoskinson Points To Executive Gap
Despite those wins, Hoskinson says Cardano is missing a โcompetent Foundation and executive authorityโ to shape market views. Heโs taken to X to share his concerns, but some in the community have pushed back hard.
A few podcasters and thought leaders have labeled Cardano a โdying chain.โ Hoskinson admits that stepping into the narrative has drawn plenty of criticismโyet he feels itโs needed if Cardano is to claim its place in Bitcoinโbased finance.
Input Output Globalโs Role
Input Output Global (IOG), Hoskinsonโs company, will keep guiding Cardano as its core coordinator. He warns this work comes at a cost:
โItโs been brutal and expensive this year,โ he said, referring to waves of negative comments and legal threats. He adds that itโs โdehumanizingโ to be blamed for every hiccup on the network while not getting credit for the wins.
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Rare Evo Conference In Focus
Looking ahead, Hoskinson is counting on Rare Evo, a crypto conference, to reset the conversation. He believes the community will use that event to settle governance questions and update Cardanoโs constitution with delegated executive powers.
Thereโs even talk of a sovereign wealth fund to back Bitcoin DeFi on the chain. Built on top of Bitcoin, Bitcoin DeFi (BTCFi) is a network of decentralized financial applications.
Last year, Hoskinson pushed a plan to convert $100โฏmillion worth of ADA into stablecoin liquidity. That idea sparked fierce debate. Now, he hopes Rare Evo will help turn bold ideas into solid support.
Cardanoโs path forward may hinge on blending strong tech work with a clear, unified story. As Bitcoin DeFi edges closer, the project that can tell the best story might win the most attentionโand the most funds.
Featured image from Unsplash, chart from TradingView
