The stablecoin protocol UXD Protocol proposes "to allocate 5 million dollars to purchase SOL and stake it."

ChainCatcher news, the algorithmic stablecoin protocol UXD Protocol has initiated a community proposal to allocate $5 million from the insurance fund to purchase SOL and stake it, in order to invest in the development of the Solana ecosystem. The proposer stated that the insurance fund was previously only used to purchase U.S. Treasury bonds, but it should attempt to achieve higher returns. If the proposal passes, the purchased SOL will be staked through multiple liquid staking protocols.