Convex Finance Proposes Significant Reduction in PYUSD Holdings

According to Odaily, Convex Finance has initiated a proposal to significantly reduce its PYUSD holdings. The proposal highlights that Frax currently holds a substantial amount of PYUSD, which generates minimal interest. To diversify and move away from low-interest assets, it is suggested that the PYUSD in Curve FRAX/PYUSD be reduced from over $2 million to a maximum of $500,000. The proposal currently faces a 99.51% opposition rate and is set to conclude on September 20.