Sky Passes "Strip $200 Million WBTC Exposure" Proposal, to be Implemented on October 3rd
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September 20, 2024
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Sky (formerly MakerDAO) to Offload $200 Million WBTC Exposure in Five Stages
Foresight News reports that DeFi protocol Sky (formerly MakerDAO) has passed a proposal to offload its $200 million WBTC exposure. The proposal, divided into five stages, will utilize a Linear Interpolation (LERP) mechanism to gradually increase the liquidation ratios (LTV) of the WBTC-A, WBTC-B, and WBTC-C vaults until all remaining positions are either closed or liquidated.
The first stage will commence on October 3rd, with the final stage concluding on November 28th.
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