MakerDAO has approved a proposal to divest $200 million worth of WBTC collateral assets. The divestment will occur in five phases, with the first phase starting on October 3 and the final phase ending on November 28. (Binance News)

Sky (formerly MakerDAO) is taking a community vote on whether to completely divest its ecosystem of around $200 million worth of wBTC. BA Labs’ proposal is to gradually remove all wBTC from its collateral assets in a five-phase plan starting on September 26, with each step subject to community approval. In other words, Sky aims to make its system more secure by reducing its reliance on wBTC.