BA Labs proposes that Sky gradually vote to divest wBTC collateral asset exposure

Odaily Odaily News According to a governance article on Thursday, MakerDAO's rebranded Sky will vote to completely remove wBTC from its ecosystem, which could be a major development for DeFi as the platform has $200 million in wBTC collateralized loans. On Thursday, BA Labs proposed to gradually divest all wBTC's collateral asset exposure in five steps, with the first step starting on September 26. Each step will be voted on. "We found that legal due diligence could not provide sufficient assurance," BA Labs said in its proposal. If the proposal is passed, BA Labs proposes to add alternative products to the platform. According to the BA Labs article, currently, on Sky's lending platform SparkLend, wBTC collateralized loans are worth approximately $73 million, and in Sky's legacy vault, wBTC collateralized debt is approximately $127 million. (CoinDesk)