The Wrapped Bitcoin (WBTC) community is transitioning to a new contract for multi-signatures.
The WBTC DAO, which manages the Wrapped Bitcoin community, is now to outperform inactive signatories decided.
Those who will replace the former signatories, when needed They will be responsible for approving transactions and updating the contract.
This multi-sig update is supported by both Kyber Network and BitGo.
According to the proposed update, when a decision needs to be made for the WBTC DAO within the scope of the new system to be created, at least 8 votes of approval will be required.
There are only 13 signatories in this system. Years ago, there were 18 signatories in the system. At that time, 11 votes were required for a vote to be considered.
Among the signatories of Wrapped Bitcoin were Compound, Loopring, Kyber, BitGo. Chainlink and Balancer have also been added to these.
However, names such as FTX, Airswap, MakerDAO were excluded from the list.