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MakerDAO plans to reduce the size of WBTC collateral to address the risk of changes in custody rights

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2024-08-11 07:05:44
On August 11, MakerDAO plans to launch a proposal to reduce the size of WBTC collateral in the August 12 executive vote, including:
Core vault:
Reduce the WBTC-A DC-IAM limit (maximum guarantee amount) from 500M to 0.
Reduce the WBTC-B DC-IAM limit (maximum guarantee amount) from 250M to 0.
Reduce the WBTC-C DC-IAM limit (maximum guarantee amount) from 500M to 0.
SparkLend:
It is forbidden to borrow WBTC.
Reduce the loan collateral rate for WBTC from 74% to 0%.
BA Labs, a crypto risk analysis and evaluation agency, said that WBTC collateral integration is at higher risk on Maker and SparkLend in light of the impending change in WBTC escrow. If BitGo or other interested parties cannot convincingly demonstrate the security of maintaining the existing WBTC collateral integration, BA Labs will consider further adjustments to the parameters to protect the agreement until the WBTC collateral on Maker and SparkLend is completely removed. BA Labs believes that the above actions are taken to limit the growth of WBTC exposure and to address the latent risk posed by the change in WBTC escrow.
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