According to the latest news from CoinVoice and a report from The Block, Polygon community members have rejected a preliminary proposal (or pre-PIP) that suggested deploying over $1 billion in stablecoin reserves to generate yields.
The proposal was put forward by the Web3 risk provider Allez Labs in collaboration with DeFi protocols Morpho and Yearn, aiming to utilize approximately $1.3 billion in DAI, USDC, and USDT reserves in the PoS Chain bridge for yield generation.
Polygon representation, community members expressed concerns about the lack of a mechanism for affected users to opt-in to security issues and expressed doubts about the feasibility of the proposal. Given the community's reservations, the proposal seems unlikely to pass, but this does not prevent Polygon from exploring innovative or even bold ideas in the future. [Original link]
