According to Mars Finance, Snapshot shows that Convex Finance has initiated a proposal to significantly reduce PYUSD holdings. The proposal states that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should diversify and stay away from low-interest assets. Therefore, it is recommended to reduce the more than two million US dollars of PYUSD in Curve FRAX/PYUSD to a maximum of US$500,000. The current proposal opposition rate is 99.51%, and it will end on September 20.
Convex Finance initiated a proposal to significantly reduce PYUSD holdings, but the community majority opposed it
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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