Changing the Oracle for WBTC

Ooki, like many other protocols, uses the BTC/ETH chainlink price feed as the oracle for WBTC. At the time of implementation, this seemed to be a safe approach. However, this solution does not protect the protocol in the event of a Black Swan event such as a WBTC/BTC price depeg. While this event is highly unlikely, it can still be induced.

Therefore, this post suggests that Ooki replaces the oracle for WBTC with a Chainlink-compatible oracle. For this, Ooki should deploy a pull request which calculates the WBTC/ETH price by using the Chainlink price feeds for WBTC/BTC and BTC/ETH.

Pull request:

1 Like

considering current WBTC rumors I think we should move fast on this. euler and other protocols are already put onchain proposals to vote.

It seems an essential replacement to safeguard the protocol in case of a black swan event, i do support it.

great idea. supporting jt