[GIP-181] (Re-vote) eBTC and LBTC Corn PTs onboarding
AI summary
This proposal is a re-vote to add two new tokens, PT-corn-eBTC-27MAR2025 and PT-cornLBTC-26DEC2024, as accepted collateral within the Gearbox WBTC lending pool. The original vote passed, but a security discrepancy in the oracle code required an update and a new vote. These tokens are 'Principal Tokens' from Pendle Finance, representing a claim on the principal amount of an underlying asset (eBTC or LBTC) at a future date. The proposal sets specific parameters for these new collateral types, including their price oracle, quota limits, interest rates, and liquidation thresholds.
If passed, users will be able to use these specific Pendle Principal Tokens as collateral to borrow WBTC on Gearbox, expanding the types of assets accepted by the protocol. This could increase liquidity and utility for holders of these PTs and potentially attract more users to Gearbox. There are no direct financial losses for any specific group, but the protocol takes on new risk by accepting these assets as collateral.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Re-vote notice
The GIP under number 181 was previously approved by vote. However, just before its execution, security checks showed a discrepancy between the Pendle TWAP feeds' code to be deployed and the versions mentioned in the Watchpug audit report (available at https://github.com/Gearbox-protocol/security/tree/main/audits). Specifically, the code differed in licensing information and comments, which, although not critical, did not meet Gearbox's security standards.
After that the code in prod & audit reports were updated, including a newer change to contract (PriceToSy pricing method),…