As stated above, I’ll always think treasury diversity is important. I think this has (and will continue to) be a good step to achieve that goal. I also appreciate that there has been reporting to show that there has been success with the first iteration.
As others have mentioned, with the passing of other treasury diversification projects this now creates some redundancies… however I think that this project is more then simple treasury diversification at the end of the day. Its about supporting an RWA market. So in some sense I think it is a little unique in that role. I’d also contend that those projects are still relatively new, so keeping this running will present an opportunity for a soft transition if you will.
All that said, between the first iteration being relatively successful and what I perceive as a continued need for diversification in the moment, I will be voting “for” this project to continue.