According to PANews, Trading Strategy co-founder Mikko Ohtamaa criticized Polygon for using user-bridged USDC deposits for funding markets such as Morpho, arguing that the move posed multiple risks.
He pointed out that this undermines the illusion of self-custody, attracts regulatory attention, and users cannot choose whether to participate in the mechanism, lacking transparency. In addition, the bridged USDC has a double counting problem.
Ohtamaa suggested that Polygon explore more transparent ways, such as launching an independent bridge service that allows users to choose to exchange USDC for "Polygon Yield USDC." He mentioned that Circle has launched a non-bridge version of USDC on Polygon, but it has not been widely adopted.
