Curve DAO is considering transferring 10% of the CRVUSD borrowing fees to its stablecoin reserve

ChainCatcher news, Curve governance members have begun voting on a new proposal that will allocate 10% of the fees generated from borrowing the Curve stablecoin crvUSD directly into a savings pool designated for users of crvUSD.

Curve founder Michael Egorov stated that the proposal aims to promote the development of the crvUSD stablecoin, which currently has a market capitalization of $60 million. Theoretically, if the proposal is approved and crvUSD does scale up, the protocol will generate more income for governance members in the long run, but not in the short term.

So far, most votes have supported the proposal, which will conclude on Friday.