Polygon上稳定币储备的战略部署

Pre-Polygon 改进提案 (Pre-PIP) 是与 Web3 风险提供商 Allez Labs 以及 DeFi 平台 Morpho 和 Yearn 合作开发的，反映了

Polygon is considering a plan to deploy around $1.3 billion worth of stablecoins from the Polygon PoS Bridge to yield-generating protocols.

Polygon 正在考虑一项计划，将 Polygon PoS Bridge 中价值约 13 亿美元的稳定币部署到产生收益的协议中。

The reserves of DAI, USDC, and USDT currently sit idle, while they could accrue an annual interest of about $70 million. The goal is to stimulate activity growth within the Polygon ecosystem and the rest of AggLayer through smart and efficient capital allocation.

DAI、USDC 和 USDT 的储备目前闲置，但每年可产生约 7000 万美元的利息。目标是通过智能、高效的资本配置刺激 Polygon 生态系统和 AggLayer 其余部分内的活动增长。

The Pre-Polygon Improvement Proposal (Pre-PIP), developed in cooperation with Web3 risk provider Allez Labs and DeFi platforms Morpho and Yearn, reflects a plan to allocate stablecoin reserves to the specific ERC-4626 vaults best suited to the kind of asset they are designed for. In the proposal, the DAI reserve will be deployed through Maker’s sUSDS vault and yield generation for USDC and USDT in Morpho Vaults.

Pre-Polygon 改进提案 (Pre-PIP) 是与 Web3 风险提供商 Allez Labs 以及 DeFi 平台 Morpho 和 Yearn 合作开发的，反映了一项将稳定币储备分配到最适合其资产类型的特定 ERC-4626 金库的计划。设计用于。在该提案中，DAI 储备将通过 Maker 的 sUSDS 金库进行部署，并在 Morpho Vault 中为 USDC 和 USDT 生成收益。

The proposed structure incorporates a risk-managed journey guided by Allez Labs. The process will be gradual and, to minimize risk, certain decision parameters, including anything that can impact the market cap or introduce a new market, will be locked in for 72 hours. A protector model still gives the Polygon Protocol Governance Council (PPGC) veto power.

拟议的结构包含由 Allez Labs 指导的风险管理旅程。该过程将是渐进的，为了最大限度地降低风险，某些决策参数（包括任何可能影响市值或引入新市场的因素）将被锁定 72 小时。保护者模型仍然赋予 Polygon 协议治理委员会 (PPGC) 否决权。

The plan also involves partnering with Yearn to establish a Polygon Ecosystem Incentives Program. The yield from the deployed assets is expected to finance three new Polygon Ecosystem Vaults, which are focused on encouraging more DeFi activities across the Polygon PoS and AggLayer. Subsequent governance proposals will further elaborate on the asset deployment plan and rewards provided in this program.

该计划还涉及与 Yearn 合作建立 Polygon 生态系统激励计划。部署资产的收益预计将为三个新的 Polygon 生态系统金库提供资金，这些金库的重点是鼓励跨 Polygon PoS 和 AggLayer 进行更多 DeFi 活动。后续治理提案将进一步细化本计划的资产部署方案和提供的奖励。

The Polygon PoS Bridge has large reserve balances, which are among the biggest on-chain stablecoin reserves. As the proposal authors stated, new DeFi protocols have all the necessary characteristics to allow safe profit obtaining.

Polygon PoS Bridge 拥有大量储备余额，是最大的链上稳定币储备之一。正如提案作者所述，新的 DeFi 协议具有安全获取利润的所有必要特征。

In a recent feature request session, the community showed strong interest in optimizing the bridge reserves. As such, the proposed deployment is in tune with this feedback, where the risks are kept to a minimum and the ecosystems are expanded. By working on well-known platforms such as Maker and Morpho and with further guidance from Allez Labs, the plan focuses on yield generation but also pays much attention to making the assets secure enough.

在最近的一次功能请求会议中，社区对优化桥梁储备表现出了浓厚的兴趣。因此，拟议的部署与这种反馈相一致，将风险保持在最低限度，并扩大了生态系统。通过与 Maker 和 Morpho 等知名平台合作，并在 Allez Labs 的进一步指导下，该计划在关注收益生成的同时，也非常注重确保资产足够安全。

Every asset in the program would be enabled using individual Polygon Improvement Proposals (PIPs) with clear deployment specifications. The initial markets that are proposed are Superstate’s USTB, Maker’s sUSDS, and Angle’s sUSD. Allez Labs will establish measures to assess risk levels associated with each asset before reporting to the community and the PPGC.

计划中的每项资产都将使用具有明确部署规范的单独多边形改进提案 (PIP) 来启用。提议的初始市场是 Superstate 的 USTB、Maker 的 sUSDS 和 Angle 的 sUSD。 Allez Labs 将制定措施，在向社区和 PPGC 报告之前评估与每项资产相关的风险水平。

The program’s list of requirements includes measures to prevent specific situations, such as a lack of liquidity. For example, withdrawal will be allowed using ERC-4626 vault tokens, which can be exchanged directly for the bridge’s objects, thus causing minimal interference with its key operations. Thus, through formal debates and consensus building, the governance process would enable transparency and involve the community.

该计划的要求清单包括防止特定情况（例如缺乏流动性）的措施。例如，将允许使用ERC-4626金库代币进行提现，这些代币可以直接兑换桥的对象，从而对其关键操作造成最小的干扰。因此，通过正式辩论和建立共识，治理流程将实现透明度并让社区参与进来。

Yearn also manages the rewards program, and it rightfully has more responsibility. One could use Yearn ecosystem vaults for USDC, USDT, and DAI to guarantee the yield generated from the deposited reserves towards Polygon PoS and AggLayer DeFi initiatives.

Yearn 还管理着奖励计划，它理所当然地承担着更多的责任。人们可以使用 USDC、USDT 和 DAI 的 Yearn 生态系统金库来保证 Polygon PoS 和 AggLayer DeFi 计划的存入储备所产生的收益。

The Pre-PIP is expected to receive significant debate on the Polygon community forum and the PPGC. Based on the feedback from these discussions, more specifics concerning the deployment plan for each stablecoin will be added to the ultimate PIP submissions. Therefore, the idea remains open to the community for their suggestions to meet approval of the ecosystem goals.

Pre-PIP 预计将在 Polygon 社区论坛和 PPGC 上引起激烈辩论。根据这些讨论的反馈，有关每种稳定币部署计划的更多细节将添加到最终的 PIP 提交中。因此，这个想法仍然向社区开放，征求他们的建议，以满足生态系统目标的批准。

As the Polygon network continues to grow, using its stablecoin reserves to create flexible revenue could be an example for other blockchain networks. It is also worth noting that the proposal’s implementation approach regarding deployment, risk management, and governance is reasonable and enhances the use of on-chain resources.

随着 Polygon 网络的不断发展，利用其稳定币储备创造灵活的收入可能成为其他区块链网络的榜样。还值得注意的是，该提案在部署、风险管理和治理方面的实施方式是合理的，并且提高了链上资源的利用率。

The PoS bridge may also select less productive reserves for lending to transform them into productive capital assets that increase the Polygon’s economic efficiency and stimulate more extensive adoption of DeFi products and services.

PoS 桥还可以选择生产性较低的储备进行贷款，将其转化为生产性资本资产，从而提高 Polygon 的经济效率并刺激 DeFi 产品和服务的更广泛采用。