The team behind Sky, formerly Maker, wants to drop WBTC due to what it claimed were recent changes in ownership and control “likely involving Justin Sun or affiliates.”
Decentralized finance lending and borrowing platform Sky, formerly Maker, has proposed dropping Wrapped Bitcoin as ecosystem collateral due to concerns that the token is closely tied to Justin Sun.
Sky’s team said in a Sept. 12 post on the protocol’s governance forum that it was giving official notice that it would offboard Wrapped Bitcoin (WBTC) variants on SparkLend, its decentralized non-custodial liquidity protocol.
According to the proposal initiated by the BA-Labs team on Sept. 12, the offboarding will be conducted in several steps over multiple executive votes, with the process expected to start on Sept. 26.
