The Cardano Foundation is stepping out from behind the blockchain's technical curtain to actively push adoption and seed its decentralized finance markets, a reversal of the supporting role it held for most of the network's history, Chief Executive Officer Frederik Gregaard said.
"We believe that before we were about enabling adoption and now we're getting much more focused on actually getting real transactions building onchain,” Gregaard said in a June 5 interview with The Defiant. "In the last six months we started to do some active market making and helped on some AMMs.”
The Cardano Foundation is providing an eight-figure ADA amount in liquidity to key Cardano stablecoin projects through multiple channels, he said. In April, the Foundation deployed ADA liquidity into Cardano-based market maker Flowdesk “to improve market depth, enhancing stablecoin liquidity for USDA and USDM,” Gregaard said.
The Foundation is also serving as constitutional administrator of the Orion Fund, an $80 million venture vehicle run with venture capital fund Draper Dragon whose first treasury tranche the community ratified in April. It also signed a three-year technology agreement with the Brazilian Olympic Committee this month.
