According to ChainCatcher, according to the Snapshot governance page, Convex Finance has launched a proposal to significantly reduce PYUSD holdings.

The proposal points out that Frax holds a large amount of PYUSD in its assets, but the interest is very small. In order to achieve asset diversification, 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.

Currently, the opposition rate of the proposal is as high as 99.51%, and the voting will end on September 20. The market parties have different attitudes towards this proposal, and subsequent developments are worth paying attention to.