Cardano is aiming to position itself as the go-to smart contract layer for Bitcoin-based DeFi, but founder Charles Hoskinson says the lack of a strong executive voice is hurting its growth.
In a recent post on X, Hoskinson emphasizing the importance of a strong narrative to guide the market sentiment. He believes Bitcoin DeFi is Cardano’s biggest opportunity, especially with recent advances like Leios, Hydra, and the Midnight Glacier Drop.
Yet, despite these wins, Cardano continues to struggle with public perception. “We are missing a competent Foundation and executive authority to push these narratives into the mindset of the space,” Hoskinson said.
The most popular DEX on Cardano, Minswap, is gearing up to integrate Bitcoin and aims at a liquidity pool of $2 trillion. Meanwhile, tools such as Lace Wallet and the USDM stablecoin are becoming popular.
Hoskinson has taken it upon himself to shape Cardano’s narrative, but he admits it comes at a cost. “It’s been brutal and expensive,” he said, referring to personal attacks and accusations, including theft of ADA tokens.
Input Output Global (IOG), his company, will continue to lead narrative efforts. However, Hoskinson says the community needs more support.
Looking ahead, the upcoming Rare Evo crypto conference could be a turning point. Cardano plans to address governance issues, update its constitution, and launch a sovereign wealth fund to back its Bitcoin DeFi vision.
