The Frax community initiated a proposal to introduce USTB as frxUSDCollateral and custodied assets, with an initial cap of $100 million.

Odaily Star Daily News According to the official governance page, the Frax Finance community has initiated a proposal to introduce USTB as the frxUSD Collateral and custodial asset, proposing to introduce USTB, which is Superstate's short-term US government securities fund, as the reserve behind this Stable Coin, providing 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 target return consistent with the federal funds rate. The proposal aims to introduce USTB as a collateral asset with an initial cap of $100 million. The voting has been opened and will end on January 1st next year.