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Cardano founder Charles Hoskinson has responded to comments from Flare founder Hugo Philion, who pointed to Flare’s faster growth relative to Cardano and highlighted Flare’s position as one of the largest DeFi providers in the XRP ecosystem.
In an X post, Hoskinson said that attacking his network to gain attention and media coverage is an “old marketing tactic.” He urged Philion to update his marketing strategy, suggesting he try “TikTok reaction videos.” Hoskinson’s remarks came after Philion criticized Cardano while citing his network’s growth.
Philion cited DeFiLlama data showing that Cardano has $132 million in total value locked (TVL) in DeFi, while Flare has $159 million. He also noted that Cardano launched in 2017, whereas Flare launched six years later. Philion added that since their respective launches, Cardano has been trying and “miserably failing” to copy Flare’s strategy.
He further argued that Cardano’s DeFi statistics remain far lower than Flare’s across the board, despite Cardano’s earlier start and a “vast treasury” at one point. With Flare now ahead, Philion said ADA will not win BTC. Instead, he believes Flare will win by building a unified DeFi layer for FXRP, FBTC, FXLM, RWAs, and stables.
Philion described Flare as the largest DeFi provider. CoinGecko data cited in the article shows that FXRP has a market cap of just over $220 million, with 155 million tokens in circulation.
In a separate X post, Philion said he was not attacking Cardano and was only sharing numbers from DeFiLlama. He questioned why “nothing has materially changed” for ADA despite attacks against the network in 2022. Philion also teased Hoskinson by asking whether he would like an advance copy of Flare’s 2027 strategy so he could attempt to implement it.
Hoskinson indicated he did not have time to continue the back-and-forth. The article notes that, like Flare, Cardano aims to serve as a DeFi layer for Bitcoin. Hoskinson previously said the goal is to make BTC programmable within ADA’s smart contracts, enabling market participants to earn BTC yield on the network.
He argued this could be significant because the U.S. government and major organizations currently hold BTC. By positioning Cardano as the DeFi layer for Bitcoin, the article says it could allow companies such as BlackRock to deploy their holdings to generate yields.
At the time of writing, ADA is trading at around $0.27, up over 5% in the last 24 hours, according to CoinMarketCap.
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