Umbra has a new treasury proposal live.
UMBRA-006 would authorize
@UmbraPrivacy to convert up to $300K of treasury USDC into USDv, the yield-bearing stablecoin issued by
@solomon_labs.
The goal is to put part of its idle stablecoin reserves to work and earn an expected 2.5% to 5% annual reward rate.
In practice, the USDv would stay in Umbra’s treasury, while the rewards would be routed to a wallet used to fund operating expenses.
This may also mark the beginning of a broader partnership between Umbra and Solomon, as the authors hint at closer collaboration around Umbra V2.
UMBRA-006 proposal is now live for trading on
@MetaDAOProject’s website.