MakerDAO has passed and implemented a proposal to reduce the size of WBTC collateral
MakerDAO passed and executed a series of proposals yesterday, including a proposal to reduce the WBTC collateral size. Under the proposal, the core fund will reduce the WBTC-ADC-IAM (maximum collateral amount) from 500 million to 0, the WBTC-BDC-IAM (maximum collateral amount) from 250 million to 0, the WBTC-CDC-IAM (maximum collateral amount) from 500 million to 0, and disable WBTC borrowing and lending in Spark Lend, reducing the WBTCLTV from 74% to 0%. The proposal states that due to the potential risks of changes in WBTC custody, integrating WBTC collateral on Maker and Spark Lend would bring higher risks, and the above actions are taken to limit the growth of WBTC exposure.
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