the official governance page shows that the Frax Finance community has initiated a proposal to "introduce USTB as collateral and custodial assets for frxUSD". The proposal suggests introducing USTB, which is the short-term US government securities fund of Superstate, as the reserve behind the stablecoin to provide stability, liquidity, and treasury bill returns. USTB is a tokenized (ERC-20) fund that provides investors with exposure to short-term US Treasury bills. The investment objective of USTB is to seek current income consistent with liquidity and principal stability, with a goal of returns consistent with the federal funds rate. The proposal aims to introduce USTB as collateral assets, with an initial upper limit of $100 million. The vote has been opened and will end on January 1st next year.
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