← Back to Gearbox
Voters
495
GEAR voted
235.27M
Token price
—
AI summary
Summary pending — generation runs every 15 minutes.
Voting results
Quorum
235.27M / 200.00M GEAR(118%)
✓ Quorum met
Approve234.97M (99.9%)
Reject300.00K (0.1%)
235.27M GEAR · 495 votersblock 16079219
🐳 Whale votes
0 votes > 5% VPNo whale votes on this proposal.
Full proposal
Original markdown · Gearbox
Summary
Gearbox is currently using the Chainlink’s BTC/USD price oracle as a price reference to WBTC.
It is proposed for Gearbox to implement a new oracle that would compose the Chainlink feeds for WBTC/BTC and BTC/USD into WBTC/USD price feed.
Motivation
Gearbox is currently using BTC/USD price feed for WBTC because the WBTC/BTC price feed is less precise (being updated every 2%).
However, recent crunch in WBTC liquidity, coupled with crypto twitter FUD, give rise to concerns about temporary or permanent depegging of WBTC/BTC price. Even a temporary depegging, given it is bigger th…
📚 Similar past proposals
Finding similar proposals…