Content pfp
Content
@
0 reply
0 recast
0 reaction
Tuổi Trẻ Cười pfp
Tuổi Trẻ Cười
@tuoitrecuoi
Sky Reconsiders Plan to Offboard Wrapped Bitcoin, After Chat With BitGo CEO concerns over Justin Sun's role involvement in the custody of bitcoin backing the WBTC token.
23 replies
0 recast
0 reaction
Đà Nẵng pfp
Đà Nẵng
@chetruoi
Sun, in response to some of the concerns raised about his involvement with the project, had told CoinDesk that WBTC has a "sterling track record that is unmatched by any competing offers recently floated by the skeptics."
0 reply
0 recast
2 reactions
Matngot pfp
Matngot
@matngot
The drama around wrapped bitcoin has energized competitors offering alternative versions of the token, including dlcBTC, Threshold's tBTC and FBTC, which has the support of Mantle Network. And on Sept. 12, Coinbase, the biggest U.S. crypto exchange and a custodian in its own right, debuted its own wrapped bitcoin competitor, cbBTC.
0 reply
0 recast
1 reaction
Cây Thúi pfp
Cây Thúi
@chicken
Sun, in response to some of the concerns raised about his involvement with the project, had told CoinDesk that WBTC has a "sterling track record that is unmatched by any competing offers recently floated by the skeptics."
0 reply
0 recast
1 reaction
Vien Tin pfp
Vien Tin
@vientin
"While we continue to have concerns about BitGlobal serving as a signer for WBTC, we find it is no longer at a level requiring immediate collateral offboarding," BA Labs wrote. "Therefore, we recommend indefinitely pausing the collateral offboarding procedures."
0 reply
0 recast
1 reaction
iguverse pfp
iguverse
@iguverse.eth
The advisor noted that collateral exposure to WBTC had "fallen somewhat to current levels around $170 million of total borrowing," reducing the risk to a "more acceptable range."
0 reply
0 recast
1 reaction
Gop pfp
Gop
@guop
Then on Tuesday, BA Labs wrote that "the additional details and clarity put us in a more comfortable position with the current state of WBTC operations and key management."
0 reply
0 recast
1 reaction
Ca Non pfp
Ca Non
@canon
"They will not 'have the ability to direct changes to key management practices' at BitGo or BitGo Singapore," two of the entities overseeing the multi-signature keys controlling the new custodian, Belshe wrote on Sept. 20.
0 reply
0 recast
1 reaction
Vét Láp pfp
Vét Láp
@vestlab
"They will not 'have the ability to direct changes to key management practices' at BitGo or BitGo Singapore," two of the entities overseeing the multi-signature keys controlling the new custodian, Belshe wrote on Sept. 20.
0 reply
0 recast
1 reaction
Du Tho pfp
Du Tho
@dutho
But discussions over the matter continued even after the vote, with Belshe posting extensively in the forum in recent days that the new custody arrangement was misunderstood, and that Sun would not have the ability to singlehandedly make changes to the structure.
0 reply
0 recast
1 reaction
85cent pfp
85cent
@salonpas
The influential Sky adviser, BA Labs, had expressed concerns about Sun's involvement with the project – a crucial consideration given that some $200 million of loans on the platform were in some way linked to WBTC collateral. Last week, Sky community members overwhelmingly voted to proceed with the adviser's recommendation to offboard WBTC as collateral, in a five-step process starting in early October.
0 reply
0 recast
1 reaction
Suner pfp
Suner
@bronu
WBTC is a token that allows investors to use bitcoin (BTC) on other blockchains, such as Ethereum, and often is at the center of the DeFi lending space as collateral. WBTC currently has a $9.7 billion market capitalization.
0 reply
0 recast
1 reaction
Pravas pfp
Pravas
@khet
The development follows a lengthy discussion on the Sky discussion forum with Mike Belshe, CEO of BitGo, which was the sole custodian of the bitcoin backing WBTC until August, when a deal was cut to transfer custody to a strategic partnership with Tron founder Justin Sun.
0 reply
0 recast
1 reaction
Youre pfp
Youre
@dtmyxuyenst
Sky, the decentralized finance lender previously known as MakerDAO, could consider pausing its plan to offboard wrapped bitcoin (WBTC) as collateral, following a fresh recommendation from an influential advisor.
0 reply
0 recast
1 reaction
Emmauel pfp
Emmauel
@vinhtuong
Sky, the decentralized finance lender previously known as MakerDAO, could consider pausing its plan to offboard wrapped bitcoin (WBTC) as collateral, following a fresh recommendation from an influential advisor.
0 reply
0 recast
1 reaction
Nguyễn Phương Nhi pfp
Nguyễn Phương Nhi
@beautiverse
Hyperbolic’s high-performance AI inference models, including Llama 3.1 and Flux, are now integrated into MyShell, a decentralized platform that empowers creators to build, share, and own AI applications. This integration enables the Web3 developer community to create and deploy AI applications with the latest state-of-the-art models – powered by Hyperbolic.
0 reply
0 recast
0 reaction
Lam-May pfp
Lam-May
@lammay
Hyperbolic is expanding its ecosystem by integrating its high-performant AI models, Llama 3.1 and Flux, into MyShell, a decentralized AI platform for creators.
0 reply
0 recast
0 reaction
Khế Ngọt pfp
Khế Ngọt
@khengot
Hyperbolic’s High-Performance AI Inference Models are Now Integrated into MyShell
0 reply
0 recast
0 reaction
Gacon pfp
Gacon
@gacon
> This video will walk you through the process of how to deploy a Kuzco worker node on Speron in just a few minutes.
0 reply
0 recast
0 reaction
Hejustin pfp
Hejustin
@conmeo
Kuzco is a distributed GPU cluster built on the Solana blockchain
0 reply
0 recast
0 reaction