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

The proposal states that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should diversify 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 US$500,000.

The current proposal opposition rate is 99.51% and will end on September 20.