Sky reevaluates plan to offboard WBTC following discussion with BitGo CEO
BA Labs, an advisor to DeFi lender Sky, says its concerns with Tron founder Justin Sun’s involvement in the custody of the Wrapped Bitcoin token have been addressed and new recommendations will be put to a vote on Oct. 3.
Decentralized finance (DeFi) pioneer Sky, formerly Maker, is reconsidering its plan to offboard Wrapped Bitcoin (WBTC) as collateral for its lending protocol after receiving a new recommendation from one of its key advisors, BA Labs.
On Sept. 24, BA Labs recommended pausing the WBTC offboarding plan following a lengthy conversation on Sky’s governance forum with BitGo co-founder Mike Belshe.
The move follows clarifications from BitGo about changes in management or custody of WBTC, control of the signing keys, and commitment to give advance notice of changes.
BA Labs, an advisor to DeFi lender Sky, says its concerns with Tron founder Justin Sun’s involvement in the custody of the Wrapped Bitcoin token have been addressed and new recommendations will be put to a vote on Oct. 3.
Decentralized finance (DeFi) pioneer Sky, formerly Maker, is reconsidering its plan to offboard Wrapped Bitcoin (WBTC) as collateral for its lending protocol after receiving a new recommendation from one of its key advisors, BA Labs. On Sept. 24, BA Labs recommended pausing the WBTC offboarding plan following a lengthy conversation on Sky’s governance forum with BitGo co-founder Mike Belshe. The move follows clarifications from BitGo about changes in management or custody of WBTC, control of the signing keys, and commitment to give advance notice of changes. Read more