The DeFi lending platform Sky has initiated a vote to gradually remove wBTC assets

2024-09-13 08:31:16

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ChainCatcher news, the DeFi lending platform Sky (formerly known as MakerDAO) will vote on whether to completely abandon wrapped Bitcoin (wBTC) in its ecosystem, which could be a significant development for DeFi, as the platform has $200 million in loans collateralized by this token.

DeFi risk management firm BA Labs is a significant player in the governance of the Sky protocol, having previously proposed to reduce investment in wBTC due to concerns over the involvement of Tron founder Justin Sun in the work of the underlying asset custodian.

BA Labs proposed to gradually eliminate all wBTC risk exposure from collateral assets in five steps, with the first step starting on September 26. Each step will be voted on. BA Labs stated in its proposal: "We found that legal due diligence does not provide sufficient assurance."

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DeFi Sky wBTC

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