TechFlow news: The Sky (formerly MakerDAO) decentralized finance lending platform community has voted to approve a proposal to phase out WBTC as collateral.
Sky currently has $200 million in loans backed by WBTC, which has a market cap of nearly $10 billion and is one of the largest cryptocurrencies. The phase-out plan will begin execution on October 3 and is expected to complete its final stage by November 28.
Notably, the Aave community, operator of the largest DeFi lending platform, is currently taking a cautious stance toward phasing out WBTC as collateral.
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