CandleFocus Polygon DAO Weighs $1.3B Stablecoin Deployment to Generate $70M Annual Yield
2024-12-13
Author: Content Editor
The Polygon DAO community is considering a proposal to utilize its over $1 billion of idle stablecoin reserves on the Polygon PoS Chain bridge to earn yields. The plan involves using Morpho Labs' vaults to manage USDC and USDT, targeting a 7% annual return through strategies that include high-quality collaterals. If approved, this could bring an additional $70 million in annual revenue to Polygon, which would be reinvested back into the network and its ecosystem. However, the proposal would require separate approval for deploying each asset into decentralized finance protocols. Currently, Polygon's POL token has experienced a 5% decline in the past 24 hours.
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