According to the official governance page, the FraxFinance community has initiated a proposal to introduce USTB as collateral and custodial asset for frxUSD, proposing to introduce USTB, the short-term US government securities fund of Superstate, as the reserve behind the stablecoin, providing stability, liquidity, and treasury yields. USTB is a tokenized (ERC-20) fund that provides investors with short-term exposure to US Treasury bonds. The investment objective of USTB is to seek current income consistent with liquidity and principal stability, with the goal of returns consistent with the federal funds rate. The proposal aims to introduce USTB as collateral asset, with an initial cap of $100 million. The voting has started and will end on January 1st next year. @ortus

Exciting news for the FraxFinance community! 🚀