Ethereum Layer 2 Polygon, has rejected a recent preliminary proposal (pre-PIP) to deploy $1.3 billion of stablecoins in its Proof of Stake bridge into an incentives program to grow its Decentralized Finance (DeFi) ecosystem. The platform announced the verdict on X on Dec. 17., stating that several community members raised valid concerns over the proposal’s lack of an opt-in mechanism from users. “Given the community’s concern around the pre-PIP it seems unlikely for this proposal to progress, but it doesn’t mean innovative or even aggressive ideas shouldn’t be explored in the future. The governance community is evidently engaged in Polygon protocol developments,” Polygon wrote in the X post. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
