• Cardano faced a setback as the much-anticipated stablecoin launch was delayed.
• ADA’s price, sentiment, and protocol activity bore the brunt of the news.

On the 9th of January, an X (formerly Twitter) post by Matthew Plomin revealed that the launch of Cardano’s [ADA] stablecoin USDM had been postponed.

Good morning #cardano.

People deserve a straightforward explanation for why $USDM has been delayed.

Here is our transparent response:

The $USDM Delay and Why it is Important for Cardano’s Future https://t.co/PBZXBBDC2u

— M₳tthΣw Plomin | $USDM launch whenever it’s ready (@MatthewPlomin) January 9, 2024

The post attributed the setback to audit recommendations from Sundae Labs. Moreover, Cardano’s development team cited the need for multiple changes to the smart contracts governing the stablecoin.

These adjustments, coupled with necessary testing time and holiday-related delays, have left the future of the stablecoin uncertain. However, Cardano may be eyeing a new target launch date of the 16th of March 2024.

What now?

The delay has raised questions about Cardano’s ability to adhere to timelines, potentially impacting the project’s credibility and the value of ADA.

Investors and enthusiasts, who had eagerly awaited the stablecoin launch, may now reconsider their e

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Author: Himalay Patel

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