According to the official governance page, the Frax Finance community initiated a proposal to "introduce USTB as collateral and custodian asset for frxUSD", proposing the introduction of USTB, Superstate's short-term US government securities fund, as a reserve behind the stablecoin, providing stability, liquidity and treasury securities returns. USTB is a tokenized (ERC-20) fund that provides investors with short-term exposure to U.S. treasury securities. USTB's investment objective is to seek current income consistent with liquidity and principal stability, targeting returns consistent with the federal funds rate. The proposal aims to introduce USTB as a collateral asset with an initial cap of $100 million. Voting is currently open, as of January 1 next year.