DeFi Protocol Sky Approves $200 Million WBTC Exposure Reduction Plan

According to Foresight News, the DeFi protocol Sky, formerly known as MakerDAO, has approved a proposal to reduce its $200 million WBTC exposure. The proposal is divided into five stages and employs 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 closed or liquidated. The first stage will commence on October 3, with the final stage concluding on November 28.