[GIP-180] (Re-vote) pumpBTC + PT pumpBTC (Corn) onboarding
AI summary
This proposal, a re-vote of an earlier approved measure, seeks to add two new assets, pumpBTC and PT pumpBTC (Corn), as accepted collateral within Gearbox's WBTC lending pool. pumpBTC is a liquid restaking token for Bitcoin, and PT pumpBTC (Corn) is a yield-bearing derivative of pumpBTC from Pendle Finance. The re-vote is necessary due to minor discrepancies found in the security audit of the price feed code after the initial approval.
If passed, users will be able to use pumpBTC and PT pumpBTC (Corn) as collateral to borrow other assets within Gearbox's WBTC pool, potentially increasing the protocol's liquidity and utility. This benefits users holding these specific assets by giving them more options, and could increase overall activity on the Gearbox protocol. There are no direct financial losses to any specific group, but the protocol takes on new risk by accepting new collateral types.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Re-vote notice
The GIP under number 180 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),…