Cardano shifts $26M to USDCx as bridge controls freeze payouts

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. Its dollar purchasing power still depends on the peg holding, payment release, and the recipient’s ability to use or redeem the tokens.For these identified Intersect-administered budgets, assessing development runway now requires tracking the commitment's currency and conditions through to payment.The currency of the commitment mattersThe two USDM schedules extend into 2027. The Intersect project runs through July 29, while Se7en’s Daedalus project runs through Sept. 29.ProjectTotal scheduled budgetFinal scheduled unlockPayment state in Oct. 16 snapshotIntersect governan...