Sky, the decentralized finance (DeFi) lending platform formerly known as MakerDAO, has approved a plan to remove wrapped bitcoin (WBTC) collateral following a community vote. The vote was supported by 88% of participants. 💬

- The $200 million loan on the Sky platform is collateralized by WBTC.

- The first phase will begin on October 3, with the final phase set to conclude on November 28.

- BA Labs has highlighted the risks associated with Justin Sun’s relationship with BiTGlobal.

How do you think this decision will affect the DeFi market? Share your thoughts in the comments! 🚀