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The Polygon community is evaluating a proposal to activate over $1 billion in idle stablecoin reserves from its Proof of Stake (PoS) bridge to generate yield. The initiative, led by Allez Labs, Morpho Labs, and Yearn Finance, aims to deposit approximately $1.3 billion in unproductive stablecoins into Morpho Vaults, which could yield an estimated $70 million annually at current rates. This strategy is designed to enhance the DeFi ecosystem on the Polygon network by redistributing the generated yield as incentives. The proposal is expected to spark discussions within the community regarding its potential benefits for Polygon's financial ecosystem.
POLYGON’S $1 BILLION FLIP: TURNING IDLE CASH INTO $70M ANNUALLY Polygon DAO might flip its $1.3B stablecoin stash into a DeFi money-making machine, targeting a 7% yield. Using Morpho Labs’ vaults, the DAO plans to leverage high-quality assets like USTB and stUSD while boosting… https://t.co/JnUwsyLNz8
POLYGON’S $1B STABLECOIN MOVE: $70M ANNUAL RETURNS ON THE TABLE Polygon is eyeing a proposal to turn $1.3B in stablecoins into productive assets, earning a conservative 7% annual yield. The plan involves deploying USDC and USDT into DeFi protocols, with profits reinvested to… https://t.co/x7c70VSyqG
A Polygon DAO community cohort is considering a proposal to use more than $1 billion of it idle stablecoin reserves to generate yields. By @shauryamalwa. https://t.co/jmjks53gJw