BA Labs proposes Sky to gradually vote to strip wBTC collateral exposure

robot
Abstract generation in progress

Odaily Planet Daily According to a governance article on Thursday, MakerDAO's rebranded Sky will vote to completely remove wBTC from its ecosystem, which could be a significant development for Decentralized Finance as the platform has $200 million in wBTC collateral loans. On Thursday, BA Labs proposed a five-step plan to gradually unwind all wBTC collateral exposures, with the first step starting on September 26. Each step will be decided by voting. "We have found that legal due diligence cannot provide sufficient assurance," BA Labs stated in its proposal. If the proposal is approved, BA Labs proposes to add alternative products to the platform. According to BA Labs' article, currently, the value of wBTC collateralized loans on SparkLend, a lending platform under Sky, is approximately $73 million, while the debt secured by wBTC in Sky's legacy vault is approximately $127 million. (CoinDesk)

WBTC0.16%
MKR3.54%
DEFI1.22%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)