A Polygon DAO community cohort is considering a proposal to use its more than $1 billion of idle stablecoin reserves, currently held on the Polygon PoS Chain bridge to capture yields, per a pre-proposal governance post.
“The PoS Bridge currently holds around $1.3B of stablecoins, which makes it one of the largest, but also idle, holders of stablecoins onchain,” the pre-proposal reads. “At the current benchmark lending rate for the 3 major stables this is an opportunity cost of around $70M annually.”
Story continues below
Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newsletters
Related Posts ...
Comments are disabled.