🥇 DeFi Lending Giant Sky Sets Vote to Offload Wrapped Bitcoin as Justin Sun Concerns Linger
Sky, the decentralized finance lender formerly known as MakerDAO, will vote on fully ditching wrapped bitcoin (wBTC) from its ecosystem, according to a Thursday governance post, potentially a major development in DeFi since the platform has $200 million of loans collateralized by the token. WBTC is a token that allows investors to use bitcoin (BTC) on other blockchains, and plays a key role in lending DeFi as collateral, with a $9 billion market capitalization.
Source
@DeFi_Updates
Sky, the decentralized finance lender formerly known as MakerDAO, will vote on fully ditching wrapped bitcoin (wBTC) from its ecosystem, according to a Thursday governance post, potentially a major development in DeFi since the platform has $200 million of loans collateralized by the token. WBTC is a token that allows investors to use bitcoin (BTC) on other blockchains, and plays a key role in lending DeFi as collateral, with a $9 billion market capitalization.
Source
@DeFi_Updates