Polygon Community Releases Proposal to Deploy Approximately $1.3 Billion in Stablecoin Reserves from Polygon PoS Bridge

Odaily Planet Daily News Web3 risk provider Allez Labs, along with DeFi protocols Morpho and Yearn, has drafted a proposal for the Polygon Improvement Proposal, seeking input from the Polygon community to deploy approximately $1.3 billion in stablecoin reserves (DAI, USDC, and USDT) from the Polygon PoS Bridge. The proposal will store the DAI reserves in Maker's sUSDS vault, while USDC and USDT will utilize the Morpho vault as the primary source of yield. According to the proposal, these vaults will be managed for risk by Allez. The proposal will be discussed through the community forum and Polygon's dedicated protocol governance committee. (The Block)