Polygon DAO 考虑使用其未使用的稳定币储备来产生收益

根据 12 月 12 日发布的初步治理帖子，Polygon DAO 的一个团队正在考虑投资 13 亿美元稳定币。

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 的成员提议，著名的 L1 区块链在一些收益协议中投资约 13 亿美元的稳定币。

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

通过这种方式，Polygon 将利用目前存入其 PoS 桥储备中的部分非生产性流动性。

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

此举将保证每年约7000万美元的收益，这将有助于增强该项目的DeFi生态系统。

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

如果被社区一致接受，POL 代币也可以从投资中受益。

All the details below.

所有详细信息如下。

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.

根据 12 月 12 日发布的初步治理帖子，Polygon DAO 的一个团体正在考虑投资 13 亿美元稳定币。

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.

该提案由 Allez Labs、Morpho Association 和 Yearn 提出，建议将目前保存在 Polygon Pos Chain 桥上的稳定币存入收益协议中。

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%.

该计划是通过 Morpho Labs 的金库利用 USDT、DAI 和 USDC 的低效流动性，确保每年约 7% 的回报。

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

更具体地说，这些代币将被存放在以太坊上的 ERC-4626 金库中，创建像 yeUSDC 这样的打包收益代币。

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.

后期，资源将分布在选定的市场，并得到高流动性保证的支持，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.

总的来说，预计Polygon将从这一举动中获得约7000万美元的收入，确保牛市公司的收入有额外的收入。

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

在提案中，我们可以阅读由 Polygon DAO 成员作者逐字撰写的内容：

“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 目前持有约 13 亿美元的稳定币，使其成为最大但不活跃的链上稳定币持有者之一。按照目前 3 种主要稳定币的基准贷款利率，每年的机会成本约为 7000 万美元”。

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.

该提案尚未得到社区的正式批准，但这些非生产性稳定币中的至少一部分很可能会被用来寻求收益。

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

稳定币储备承诺所产生的收益将如何分配？

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治理部分发布的Pre-PIP中，也解释了如何分配稳定币存款所产生的收益。

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

基本思想是加强 Polygon 的 DeFi 生态系统，为区块链的协议和用户提供经济激励。

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.

该计划是将以太坊产生的收益推迟到 Polygon PoS，以便资金可以投资在 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 的任务是全面管理激励计划，建立一个量身定制的系统以确保平衡的方法。

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

首先也是最重要的是，该平台应该开发一个“Polygon Ecosystem Vault”，储户可以直接从桥梁活动中获得收益。

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

然后 Yearn 可以将收入直接投资于 yvDAI，直接投资于增强跨链可组合性和用户体验的 DeFi 项目。

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.

不管奖金如何分配，不可否认的是，7000万美元的助推对于Polygon的DeFi来说将带来巨大的优势。

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

用户可能会从其他链迁移资金，以利用 Yearn 提供的更高收益，从而增加加密生态系统的 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.

所有这些都意味着 Polygon 的用户群及其 TVL 可能会增加，TVL 几个月来一直停滞不前，目前约为 12 亿美元。

Can the news affect the price of the crypto POL?

该消息会影响加密货币 POL 的价格吗？

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

许多人想知道 PolygonDAO 利用稳定币生产力低下的提议是否有利于 POL 资产的价格上涨。

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

尽管这种策略不会给加密货币带来直接的购买压力，但我们仍然可以说会有一些好处。

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

投资者可能会认为 Polygon 是一个利润更高、更稳定的平台，随着时间的推移，人们的兴趣会增加。

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.

与此同时，新金融工具的引入和资源的有效管理可以改善市场对 PoS 网络安全性和可持续性的看法。

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 本身可以决定将部分回报用于自己代币的回购政策，从而减缓年度通胀率。

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

无论发生什么情况，如果该项目能够很好地管理这笔巨额收入，那么它肯定会在未来几个月吸引新的投资者。

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，重要的是要考虑到，对 POL 价格的实际影响将在很大程度上取决于几个外部因素，例如 BTC 的价格走势和宏观经济格局的演变。

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

在过去的几周里，POL 经过数月的贬值后再次开始增长，每周回到 50 EMA 上方。

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

然而，与许多其他加密货币不同的是，它并没有从加密市场的牛市前景中获得特别的吸引力。

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

我们将看看新提案是否能够找到其特有的看涨精神