On September 17, Snapshot showed that Convex Finance initiated a proposal to significantly reduce PYUSD holdings. The proposal stated that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should achieve diversification 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 500,000 US dollars. The current proposal opposition rate is 99.51%, and it will end on September 20.