Polygon's proposal to "generate revenue from over $1 billion in stablecoins" was rejected by the community

ChainCatcher news, according to The Block, shows that members of the Polygon community have rejected a preliminary proposal (or pre-PIP) that suggested deploying over $1 billion in stablecoin reserves to generate yield.

The proposal was put forward by Web3 risk provider Allez Labs in collaboration with DeFi protocols Morpho and Yearn, aiming to utilize approximately $1.3 billion in DAI, USDC, and USDT reserves in the PoS Chain bridge for yield generation.

Polygon stated that community members expressed concerns about security issues and the lack of an opt-in mechanism for affected users, casting doubt on the feasibility of the proposal. Given the community's reservations, the proposal seems unlikely to pass, but this does not hinder Polygon from exploring innovative or even bold ideas in the future.