According to Odaily, MakerDAO is set to vote on a proposal to completely remove wBTC from its ecosystem, a significant development for the DeFi sector given the platform's $200 million wBTC collateral loans. On Thursday, BA Labs proposed a five-step plan to gradually eliminate all wBTC collateral exposure, starting on September 26. Each step will be subject to a vote.
BA Labs stated in its proposal, 'We found that legal due diligence could not provide sufficient assurance.' If the proposal is approved, BA Labs suggests introducing alternative products to the platform. Currently, on Sky's lending platform SparkLend, wBTC collateral loans are valued at approximately $73 million, while the legacy vault under Sky holds about $127 million in wBTC-collateralized debt.
