Euler Finance’s Proposal To Move WBTC To WBTC Chainlink Oracle

Protocol for lending The Euler Finance community has issued proposal EIP 31, which seeks to add WBTC to an explicit Wrapped Bitcoin Chainlink oracle, claiming that the present oracle values WBTC as BTC, which does not account for the risk of WBTC trading at a different price.

Change the WBTC oracle to a WBTC-ETH to promote more accurate asset pricing. WBTC is currently priced in BTC by the protocol. This is erroneous and, as stated, should be changed according to the proposal.

The protocol will be updated to price WBTC as WBTC, as opposed to its existing setup.

The oracle is already in place. If this proposal is approved, the Euler Foundation will carry out this EIP, and WBTC on Euler Finance will be priced in WBTC rather than BTC.

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