MakerDAO has passed and implemented a proposal to reduce the size of WBTC collateral to cope with the potential risks of custody changes

PANews reported on August 16 that MakerDAO had passed and implemented a series of proposals yesterday, including a proposal to initiate a reduction in the size of WBTC collateral. According to the proposal, the core vault will reduce WBTC-A DC-IAM (maximum collateral amount) from 500 million to 0, WBTC-B DC-IAM (maximum collateral amount) from 250 million to 0, and WBTC-C DC-IAM (maximum collateral amount) from 500 million to 0, disable WBTC lending in SparkLend, and reduce WBTC LTV from 74% to 0%. The proposal stated that due to the potential risks of changes in WBTC custody rights, the integration of WBTC collateral on Maker and SparkLend would bring higher risks, and the above actions were taken to limit the growth of WBTC exposure.