DeFi

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

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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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.