Polygon DAO 考慮使用其未使用的穩定幣儲備來產生收益

根據 12 月 12 日發布的初步治理帖子，Polygon DAO 的一個團隊正在考慮投資 13 億美元穩定幣。

Members of the Polygon DAO have proposed that the well-known L1 blockchain invest approximately 1.3 billion dollars in stablecoins in some yield protocols.

Polygon DAO 的成員提議，著名的 L1 區塊鏈在一些收益協議中投資約 13 億美元的穩定幣。

In this way Polygon would leverage a portion of the unproductive liquidity that is currently deposited in reserves in its PoS bridge.

透過這種方式，Polygon 將利用目前存放在其 PoS 橋儲備中的部分非生產性流動性。

The move would guarantee a yield of about 70 million dollars a year, which will help to enhance the project’s DeFi ecosystem.

此舉將保證每年約7,000萬美元的收益，這將有助於增強該計畫的DeFi生態系統。

The POL token could also benefit from the investment if it were unanimously accepted by the community.

如果被社群一致接受，POL 代幣也可以從投資中受益。

All the details below.

所有詳細資訊如下。

According to a preliminary governance post published on December 12, a group from the Polygon DAO is considering investing 1.3 billion dollars in stablecoins.

根據 12 月 12 日發布的初步治理帖子，Polygon DAO 的一個團體正在考慮投資 13 億美元穩定幣。

The proposal, put forward by Allez Labs, Morpho Association, and Yearn, suggests depositing the stablecoins, currently held on the Polygon Pos Chain bridge, into yield protocols.

該提案由 Allez Labs、Morpho Association 和 Yearn 提出，建議將目前保存在 Polygon Pos Chain 橋上的穩定幣存入收益協議中。

The plan is to take advantage of the inefficient liquidity in USDT, DAI, and USDC through the vaults of Morpho Labs, ensuring an annual return of approximately 7%.

該計劃是透過 Morpho Labs 的金庫利用 USDT、DAI 和 USDC 的低效率流動性，確保每年約 7% 的回報。

More specifically, the coins would be deposited in an ERC-4626 vault on Ethereum, creating wrapped yield-bearing tokens like yeUSDC.

更具體地說，這些代幣將存放在以太坊上的 ERC-4626 金庫中，創建像 yeUSDC 這樣的打包收益代幣。

At a later stage, the resources would be distributed in selected markets and supported by high liquidity guarantees, such as USTB by Superstate, sUSDS by MakerDAO/Sky and stUSD by Angle Protocol.

後期，資源將分佈在選定的市場，並得到高流動性保證的支持，例如 Superstate 的 USTB、MakerDAO/Sky 的 sUSDS 和 Angle Protocol 的 stUSD。

In total, it is estimated that Polygon would earn approximately 70 million dollars from this move, ensuring an additional income to the revenues of the bull company.

總的來說，預計Polygon將從這項舉措中獲得約7,000萬美元的收入，確保牛市公司的收入獲得額外收入。

Within the proposal, we can read what is written verbatim by the authors who are members of the Polygon DAO:

在提案中，我們可以閱讀由 Polygon DAO 成員作者逐字撰寫的內容：

“The PoS Bridge currently holds about $1.3 billion in stablecoins, making it one of the largest, yet inactive, onchain stablecoin holders. At the current benchmark lending rate for the 3 main stablecoins, this is an opportunity cost of about $70 million per year”.

「PoS Bridge 目前持有約 13 億美元的穩定幣，使其成為最大但不活躍的鏈上穩定幣持有者之一。按照目前 3 種主要穩定幣的基準貸款利率，每年的機會成本約為 7000 萬美元」。

The proposal has not yet been officially approved by the community, but it is likely that at least a part of these unproductive stablecoins will be employed in the search for yield.

該提案尚未得到社區的正式批准，但這些非生產性穩定幣中的至少一部分很可能會被用來尋求收益。

How will the yield generated from the commitment of reserves in stablecoin be distributed?

穩定幣儲備承諾所產生的收益將如何分配？

In the Pre-PIP published in the governance section of Polygon, it is also explained how to distribute the returns accrued from the deposit of stablecoins.

在Polygon治理部分發布的Pre-PIP中，也解釋如何分配穩定幣存款所產生的收益。

The basic idea is to strengthen the DeFi ecosystem of Polygon, offering economic incentives to the protocols and users of the blockchain.

基本概念是加強 Polygon 的 DeFi 生態系統，為區塊鏈的協議和用戶提供經濟誘因。

The plan is to defer the yield produced by Ethereum to Polygon PoS, so that the funds can be invested on the AggLayer and on the main L1.

該計劃是將以太坊產生的收益推遲到 Polygon PoS，以便資金可以投資在 AggLayer 和主 L1 上。

Yearn would have the task of fully managing the incentive program, building a system tailored to ensure a balanced approach.

Yearn 的任務是全面管理激勵計劃，建立一個量身定制的系統以確保平衡的方法。

First and foremost, the platform should develop a “Polygon Ecosystem Vault“, where depositors are rewarded with a yield directly from bridge activities.

首先也是最重要的，平台應該開發一個“Polygon Ecosystem Vault”，儲戶可以直接從橋樑活動中獲得收益。

Then Yearn could direct the revenues towards yvDAI, investing directly in DeFi projects that enhance the cross-chain composability and the user experience.

然後，Yearn 可以將收入直接投資於 yvDAI，直接投資於增強跨鏈可組合性和使用者體驗的 DeFi 專案。

Regardless of how the prizes will be distributed, it is undeniable that a boost of 70 million dollars for Polygon’s DeFi would bring great advantages.

無論獎金如何分配，不可否認的是，7000萬美元的助推對於Polygon的DeFi來說將帶來巨大的優勢。

Users might migrate funds from other chains to take advantage of a higher yield offered by Yearn, increasing the TVL of the crypto ecosystem.

用戶可能會從其他鏈遷移資金，以利用 Yearn 提供的更高收益，從而增加加密生態系統的 TVL。

All this translates into a possible increase in Polygon’s user base, as well as its TVL, which has been stagnating for several months now around 1.2 billion dollars.

所有這些都意味著 Polygon 的用戶群及其 TVL 可能會增加，TVL 幾個月來一直停滯不前，目前約為 12 億美元。

Can the news affect the price of the crypto POL?

該消息會影響加密貨幣 POL 的價格嗎？

Many are wondering if the proposal by PolygonDAO to leverage the unproductiveness in stablecoin could favor a price increase of the POL asset.

許多人想知道 PolygonDAO 利用穩定幣生產力低下的提議是否有利於 POL 資產的價格上漲。

Although this strategy would not bring direct buying pressure into the cryptocurrency, we can still state that there would be some benefits.

儘管這種策略不會給加密貨幣帶來直接的購買壓力，但我們仍然可以說會有一些好處。

Investors might see Polygon as a more profitable and stable platform, generating an increase in interest over time.

投資者可能會認為 Polygon 是一個利潤更高、更穩定的平台，隨著時間的推移，人們的興趣會增加。

In parallel, the introduction of new financial instruments and the efficient management of resources could improve the market’s perception regarding the security and sustainability of the PoS network.

同時，新金融工具的引入和資源的有效管理可以改善市場對 PoS 網路安全性和永續性的看法。

Polygon itself could decide to use part of the returns in buy-back policies of its own token, slowing down the annual inflation rate.

Polygon 本身可以決定將部分回報用於自己代幣的回購政策，從而減緩年度通膨率。

Whatever the scenario that will occur, if the project manages this substantial income well, it will certainly attract new investors in the coming months.

無論發生什麼情況，如果該項目能夠很好地管理這筆巨額收入，那麼它肯定會在未來幾個月吸引新的投資者。

However, it is important to consider that the actual impact on the price of POL will depend greatly on several external factors, such as the price action of BTC and the evolution of the macroeconomic landscape.

然而，重要的是要考慮到，對 POL 價格的實際影響將在很大程度上取決於幾個外部因素，例如 BTC 的價格走勢和宏觀經濟格局的演變。

In the last few weeks, POL has started to grow again after long months of depreciation, returning just above the EMA 50 weekly.

在過去的幾周里，POL 經過數月的貶值後再次開始增長，每週回到 50 EMA 上方。

Unlike many other cryptocurrencies, however, it is not gaining particular traction from the crypto market’s bull outlook.

然而，與許多其他加密貨幣不同的是，它並沒有從加密市場的牛市前景中獲得特別的吸引力。

We will see if with the new proposal it will be able to find that bullish spirit that characterized it

我們將看看新提案是否能夠找到其獨特的看漲精神