MKR holders voted on May 3 to add the 1:1 Bitcoin-pegged ERC20 token, Wrapped Bitcoin (WBTC), as the fourth and latest type of collateral to the Maker protocol. The vote was conducted through the MakerDAO governance process, which has implemented a 10,000,000 debt ceiling, 1% stability fee, and 150% liquidation ratio for the asset. As of writing WBTC accounts for 0.06% of the DAI that has been minted. On the same day as the WBTC vote, Matt Luongo who leads the tBTC project, creators of another Bitcoin-pegged ERC20 token, tBTC, proposed via MakerDAO’s official forum the addition of tBTC as a Maker collateral type. Luongo attempted to differentiate tBTC in stating that its peg model is “a decentralized bonded multi-federated peg model” compared to WBTC and Liquid, which are supposedly based on a single custodian or federation of custodians respectively.