The Core Facilitators, Dewiz, and Sidestream have placed an executive proposal into the voting system. SKY holders should vote for this proposal if they support the following alterations to the Sky Protocol.

If you are new to voting in the Sky Protocol, please see the voting guide to learn how voting works.

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Executive Summary

If this executive proposal passes, the following actions will occur within the Sky Protocol:

• The Monthly Settlement Cycle for June 2026 will be executed.
• LSSKY->SKY staking rewards will be normalized.
• The offboarding of RWA001-A will be completed.
• Emergency spells relating to STUSDS_MOM will be added to the chainlog.
• The Osero ALMProxy will be whitelisted on the LitePSM.
• DC-IAM parameters for Osero will be updated.
• The Safe Harbor Agreement will be updated.
• Proxy spells for Spark, Grove, and Osero will be whitelisted in their respective StarGuard modules.

Voting for this executive proposal will place your SKY in support of the actions outlined above.

Unless otherwise noted, the actions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the changes and additions listed above will only become active in the Sky Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 48 hours.

This executive proposal includes an office-hours modifier that means that it can only be executed between 14:00 and 21:00 UTC, Monday - Friday.

If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Sky Protocol.

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Proposal Details

Monthly Settlement Cycle for June 2026

• Authorization: A.2.4
• Proposal: Forum Post

If this executive proposal passes, then the Monthly Settlement Cycle for June 2026, and reconciliation for prior months, will be executed through the following actions:

Spark

• Mint 16,923,682 USDS debt in ALLOCATOR-SPARK-A and transfer the amount to the Surplus Buffer.
• Send 9,746,443 USDS from the Surplus Buffer to the SPARK_SUBPROXY.

Grove

• Mint 12,342,158 USDS debt in ALLOCATOR-BLOOM-A and transfer the amount to the Surplus Buffer.
• Send 2,328,332 USDS from the Surplus Buffer to the GROVE_SUBPROXY.
• Send 34,902 USDS from the Surplus Buffer to the Demand-Side Buffer.

Keel

• Send 77,284 USDS from the Surplus Buffer to the KEEL_SUBPROXY.

Obex

• Mint 3,450,783 USDS debt in ALLOCATOR-OBEX-A and transfer the amount to the Surplus Buffer.
• Send 1,519,539 USDS from the Surplus Buffer to the OBEX_SUBPROXY.

Skybase

• Send 204,242 USDS from the Surplus Buffer to the SKYBASE_SUBPROXY.

Treasury Management Function

• Transfer 3,378,069 USDS from the Surplus Buffer to the Core Council Buffer.

This amount represents a 635,130 USDS Grove Core Council Genesis Capital Expenses Repayment, 1,371,470 USDS allocated to the Core Council, and 1,371,469 USDS allocated to the Fortification Foundation, with the Fortification Foundation portion to be paid out by the Core Council Multisig. These items have been combined for coding simplicity and gas efficiency.

Staking Rewards Normalization

• Authorization: Atlas - A.4.4.1.2 - SKY Staking Rewards
• Proposal: Forum Post

If this executive proposal passes, then the distribution of SKY token rewards to SKY stakers will be normalized as per A.4.4.1.4.2 - Short Term SKY Rewards For SKY Stakers, by executing the following actions:

• Update LSSKY->SKY Farm vest by calling TreasuryFundedFarmingInit.updateFarmVest() with params:
  • dist: 0x675671A8756dDb69F7254AFB030865388Ef699Ee
  • vestTot: 286,714,697 SKY
  • vestBgn: block.timestamp
  • vestTau: 90 days

RWA001-A Offboarding Spell 2

• Authorization: Core Facilitator Approval
• Proposal: Technical Scope

If this executive proposal passes, then the offboarding of RWA001-A will be completed through the following actions:

• Call MIP21_LIQUIDATION_ORACLE.cull() with:
  • MIP21_LIQUIDATION_ORACLE being 0x88f88Bb9E66241B73B84f3A6E197FbBa487b1E30
  • bytes32 ilk being "RWA001-A"
  • address urn being RWA001_A_URN

This will write off any remaining debt attached to the facility.

Add STUSDS_MOM Emergency Spells to the Chainlog

• Authorization: Core Facilitator Approval
• Proposal: Technical Scope

If this executive proposal passes, then the following standby spell factories and standalone halt spell pertaining to STUSDS_MOM will be added to the chainlog:

• EMSP_STUSDS_RATE_S_DISS_BUD_FAB: 0xb3Fd827F58989cFacFE50d2F8e86A1113b6066D1
• EMSP_STUSDS_WIPE_PARAM_FAB: 0x768D5Ce639c7E7d51E1244E2634d6149bd0d8096
• EMSP_STUSDS_RATE_SETTER_HALT: 0x91808ABeCd82495a4a7bf27d80C8c1e89de9effb

Whitelist Osero ALMProxy on LitePSM

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Osero ALMProxy at 0x6d370e359e9cbd0Fd35Bb38fAF705D84238CB884 will be whitelisted on MCD_LITE_PSM_USDC_A.

Adjust Osero DC-IAM Parameters

• Authorization: Core Council Risk Advisor Approval
• Proposal: Prime Technical Scope

If this executive proposal passes, then the following DC-IAM parameters will be updated for the Osero vault (ALLOCATOR-PRYSM-A):

• Decrease ALLOCATOR-PRYSM-A Maximum Debt Ceiling (line) by 5 million USDS from 10 million USDS to 5 million USDS.
• Decrease ALLOCATOR-PRYSM-A Target Available Debt (gap) by 9 million USDS from 10 million USDS to 1 million USDS.
• Leave ALLOCATOR-PRYSM-A Stability Fee (duty) and Ceiling Increase Cooldown (ttl) unchanged at 0% and 24 hours respectively.

Safe Harbor Update

• Authorization: Atlas A.2.11.1.2.3

If this executive proposal passes, then the Safe Harbor Agreement will be updated to include the following contracts added to the chainlog in this spell:

• EMSP_STUSDS_RATE_S_DISS_BUD_FAB: 0xb3Fd827F58989cFacFE50d2F8e86A1113b6066D1
• EMSP_STUSDS_WIPE_PARAM_FAB: 0x768D5Ce639c7E7d51E1244E2634d6149bd0d8096
• EMSP_STUSDS_RATE_SETTER_HALT: 0x91808ABeCd82495a4a7bf27d80C8c1e89de9effb

Prime Agent Proxy Spells

If this executive proposal passes, then a Spark proxy spell with address 0xC1090e8fEE666868622a2F1e870185F944108Ee2 and codehash 0xa7b0b6c470169f40016d354a8944f9e5f3f787159fec5192694e8f1ddbc7f26f will be whitelisted in the Spark StarGuard.

If this executive proposal passes, then a Grove proxy spell with address 0x4f1318bC0490dC7C7F8230F1dd91A4A2e4694134 and codehash 0x38dd6399490f19d7a7e17a6eafda5d2ad92f9395c08efe2fdbacfda3b6d36a89 will be whitelisted in the Grove StarGuard.

If this executive proposal passes, then an Osero proxy spell with address 0x5D9311fcDda62c08EB9F1115Ca804881a6660445 and codehash 0x7dca6bc3a3097897198698a674bc824fd3bbb1c9b94c655cd0d78c49db2b9f3e will be whitelisted in the Prysm StarGuard.

Spark Proxy Spell

The Pull Request for the Spark proxy spell can be viewed here.

[Robinhood Chain] Spark Liquidity Layer - Activate SLL and Spark Savings Infrastructure and Enable USDG Bridging to Robinhood Chain

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will activate the Spark Liquidity Layer, Spark Savings infrastructure, and enable USDG bridging on Robinhood Chain with the following contract addresses and rate limits:

• SLL roles (Robinhood Chain) - roles apply to ALM Controller and ALM Proxy Freezable:
  • Relayer: 0x0ca8f938Aba2214eA11eb451e795A8ef7B720C18
  • Backstop relayer: 0x52CC27896e641Cbe88F0aD36480839961A47CdF8
  • Freezer: 0x2d5Aa449FB8C5646C81BC3C1D2034c2d37F17099
  • Default admin: 0x826AEaeee9233fA8Ba199518dd8621A5962b1D02 (Spark Executor on Robinhood Chain, unchanged)
• ALM Proxy Freezable: 0xAEa9f5dE56e6C20383a1fcC2C3629Dca0A92cE41
• Spark Savings (spUSDG) onchain parameters:
  • Deposit cap and max rate unchanged
  • Setter role: 0xAEa9f5dE56e6C20383a1fcC2C3629Dca0A92cE41 (ALM Proxy Freezable)
• SLL rate limits
  • transferAsset (USDG)
    • recipient: 0x17C0F5345d1144fdF670D14719077be3842E5087
    • maxAmount: 50 million USDG
    • slope: 250 million USDG per day

[Ethereum] Spark Liquidity Layer - Enable USDG Bridging to Robinhood Chain

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will enable bridging of USDG from Ethereum to Robinhood Chain with the following rate limits:

• transferAsset (USDG)
  • recipient: 0xf752cF318dfF2C01575c98741AA52e7a34d873Fd
  • destination: 0xfD2fD4B046136B540A56C11c75ac679AE7d1dB24
  • maxAmount: 50 million USDG
  • slope: 250 million USDG per day

[X Layer] Spark Savings - Deploy spUSDT

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will launch spUSDT on X Layer with the following addresses and rate limits:

• spUSDT parameters
  • Default admin: 0xCF5af6F53ceC74B791cb4182aC778ca9CD323510 (Spark Executor on X Layer)
  • Setter: 0x9449ed367C60ea757544fd990B57e1C2D0Ec3A94 (ALM Proxy Freezable)
  • Taker: 0x83A914C361bB729EB6BEBC8C7bA993667A0E6Df8 (ALM Proxy on X Layer)
  • Max yield: 6%
  • Current yield (at launch): 0%
  • Supply cap: 750 million USDT
• SLL rate limits (X Layer)
  • take
    • maxAmount: Unlimited
  • transferAssets
    • recipient: 0xc358c90D32375721Cb3924320Fdc2F8B694347Ca (spUSDT)
    • maxAmount: Unlimited
  • Bridge USDT0 to Ethereum (X Layer → Ethereum return route)
    • destination: 0x1601843c5E9bC251A3272907010AFa41Fa18347E (ALM Proxy on Ethereum)
    • maxAmount: Unlimited
• SLL roles (X Layer) - roles apply to ALM Controller and ALM Proxy Freezable
  • Primary relayer: 0x8a25A24EDE9482C4Fc0738F99611BE58F1c839AB
  • Backstop relayer: 0x9330edE0Fc6E3E0D47Ebf3C145efd569796aC7F5
  • Freezer: 0x90D8c80C028B4C09C0d8dcAab9bbB057F0513431
  • Default admin: 0xCF5af6F53ceC74B791cb4182aC778ca9CD323510 (Spark Executor on X Layer)

[Ethereum] Spark Liquidity Layer - Enable USDT Bridging to X Layer

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will enable USDT bridging to X Layer with the following rate limits:

• Bridge USDT to X Layer (Ethereum → X Layer route)
  • destination: 0x83A914C361bB729EB6BEBC8C7bA993667A0E6Df8 (ALM Proxy on X Layer)
  • maxAmount: 5 million USDT
  • slope: 100 million USDT per day

[Ethereum] Spark Liquidity Layer - Deactivate Deprecated USDT Morpho V2 Vault

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will remove the old, non-frontend-listed USDT Morpho V2 vault from the Spark Liquidity Layer by updating the following rate limits:

• Vault address: 0xc7CDcFDEfC64631ED6799C95e3b110cd42F2bD22
• Deposit and withdrawal rate limits:
  • maxAmount: 0 USDT
  • slope: 0 USDT per day

[Ethereum] Spark Treasury - USDS Transfer to Spark Foundation for Incentives

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will transfer 2 million USDS from the Spark SubProxy to the Spark Foundation at 0x92e4629a4510AF5819d7D1601464C233599fF5ec to fund exchange and distributor hold-to-earn initiatives and term deposit boost programs.

[Ethereum] Spark Treasury - USDS Transfer to Spark Assets Foundation for Anchorage Fees

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will transfer 500,000 USDS from the Spark SubProxy to the Spark Assets Foundation at 0xEabCb8C0346Ac072437362f1692706BA5768A911 to cover Anchorage variable fees.

[Ethereum] Spark Liquidity Layer - Transfer USDS to Grove

• Authorization: Snapshot Poll
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will transfer an amount of USDS to the Grove ALMProxy at 0x491EDFB0B8b608044e227225C715981a30F3A44E in exchange for the Grove ALMProxy's balance of syrupUSDC. The precise amount of USDS will be determined by the formula: 85,943,747.637271 * syrupUSDC/USDC conversion rate at the time of execution.

[Ethereum] SparkLend - Claim SparkLend Reserves

• Authorization: Sky Atlas
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will claim all SparkLend reserves. USD stablecoin reserves will be transferred to the Spark ALMProxy and non-USD reserves will be transferred to the Spark Operations Multisig.

[Ethereum] Spark Treasury - Grants for Spark Foundation and Spark Assets Foundation

• Authorization: Sky Atlas
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will transfer 1.1 million USDS to the Spark Foundation at 0x92e4629a4510AF5819d7D1601464C233599fF5ec and 155,000 USDS to the Spark Assets Foundation at 0xEabCb8C0346Ac072437362f1692706BA5768A911.

[Ethereum] Spark Treasury - Transfer USDS for Buybacks

• Authorization: Sky Atlas
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Spark proxy spell will transfer 64,231 USDS to the Spark Operations Multisig at 0x2E1b01adABB8D4981863394bEa23a1263CBaeDfC to fund SPK buybacks.

Grove Proxy Spell

The Pull Request for the Grove proxy spell can be viewed here.

[Ethereum + Robinhood Chain] Onboard the Grove Liquidity Layer on Robinhood Chain

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Grove proxy spell will onboard the Grove Liquidity Layer to Robinhood Chain with the following contracts and rate limits:

Contracts

Contract name	Address with URL
Grove SubProxy (Mainnet spell executor)	eth:0x1369f7b2b38c76B6478c0f0E66D94923421891Ba
Grove ALM Proxy (Mainnet)	eth:0x491EDFB0B8b608044e227225C715981a30F3A44E
Grove MainnetController v1.8.0	eth:0xfd9dEA9a8D5B955649579Af482DB7198A392A9F5
Grove RateLimits (Mainnet)	eth:0x5F5cfCB8a463868E37Ab27B5eFF3ba02112dF19a
Grove ALM Relayer 1	eth:0x0eEC86649E756a23CBc68d9EFEd756f16aD5F85f
Grove ALM Relayer 2	eth:0x9187807e07112359C481870feB58f0c117a29179
Grove Freezer Safe (Mainnet)	eth:0xB0113804960345fd0a245788b3423319c86940e5
USDC (Mainnet)	eth:0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
USDG (Mainnet, reference)	eth:0xe343167631d89B6Ffc58B88d6b7fB0228795491D
Paxos USDC receive address (Mainnet — Item 1)	eth:0x8C0A9E5939B97979f85d9aDA3d983C6E713Cc2dB
syrupUSDC — Maple pool share token (Mainnet — Item 3)	eth:0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b
Spark ALM Proxy (Mainnet — Item 3)	eth:0x1601843c5E9bC251A3272907010AFa41Fa18347E
Robinhood Chain ALM Proxy	rh:0x29626c2d8Ca49A51E4dECEEc5499e52983c42BD5
Robinhood Chain RateLimits	rh:0xC13e5ff7993c5df911aE562a7736B0eBA12b2010
Robinhood Chain ForeignController v1.8.0	rh:0x2c10885ddec8d52ecF3Ad2B3833765bf36eD80cf
Robinhood Chain Executor	rh:0x5ff98717a18833de1A49e11B498866d6Fa1c9296
Robinhood Chain Gov-Relay Receiver (Arbitrum-native ArbitrumReceiver)	rh:0xa02eC279eEA9E56F4E14449a07C5ca5FDAAdc51d
Robinhood Chain Delayed Inbox (Ethereum Mainnet — Item 1)	eth:0x1A07cc4BD17E0118BdB54D70990D2158AbAD7a2D
USDG (Robinhood Chain)	rh:0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168
Paxos USDG receive address (Robinhood Chain)	rh:0xfC0a7Ed7C5146B26eB38FA92c71F434A7178b06e

Initial Parameters

Rate limits for initial activation:

Parameter	Max Amount	Slope (Tokens/Day)
LIMIT_ASSET_TRANSFER (USDC from mainnet ALMProxy to Paxos USDC receive address)	50 million USDC	50 million USDC/day
LIMIT_ASSET_TRANSFER (USDG from Robinhood Chain ALMProxy to Paxos USDG receive address)	50 million USDG	50 million USDG/day

These contracts and rate limits will activate the Grove Liquidity Layer on Robinhood Chain and activate bridging of USDG in both directions. The conversion from USDC to USDG is an off-chain conversion handled by Paxos.

[Robinhood Chain] Onboard the Robinhood Chain Grove x Steakhouse USDG Morpho Vault for Grove ALM Deposits

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Grove proxy spell will onboard the Robinhood Chain Grove x Steakhouse USDG Morpho vault with the following rate limits:

• Vault address: 0xBEEff039907422219Fb367e525954DDC092854d9
• Deposits:
  • maxAmount: 50 million USDG
  • slope: 50 million USDG/day
• Withdrawals:
  • maxAmount: Unlimited

[Ethereum] Transfer ALMProxy syrupUSDC Balance to Spark ALMProxy

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then all syrupUSDC held in the Grove ALMProxy will be transferred to the Spark ALMProxy at 0x1601843c5E9bC251A3272907010AFa41Fa18347E. In return the Spark spell will send an equivalent amount of USDS to the Grove ALMProxy.

Osero Proxy Spell

The Pull Request for the Osero proxy spell can be viewed here.

[Ethereum] Onboard the Diamond PAU Controller on the ALLOCATOR-PRYSM-A Instance

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Diamond PAU Controller will be onboarded on the Osero Allocator instance with the following contracts and rate limits.

Contracts

Contract name	Address with URL
Osero SubProxy (Mainnet spell executor)	0x24fdcd3bFA5C2553e05B2f9AD0365EBC296278D3
Osero Allocator Vault (ALLOCATOR_PRYSM_A)	0x146181Aa9B362EaEC2eC3aDd7429a06D53B43d1a
Osero Allocator Buffer	0xD0BB61b34771146e31055f20f329cDf97429F889
Osero ALM Proxy	0x6d370e359e9cbd0Fd35Bb38fAF705D84238CB884
Osero Diamond PAU Controller	0x24169Afb34fAe4D4356BC54Bd80319131e35ca38
Osero Diamond PAU RateLimits	0xE9a78f34fe497e2186f81B8c014cd93B308BC62a
Osero Diamond PAU AccessControls	0x791D2a017532CfAD881c446e6bF93BbC3c0778b2
Osero AdministeredAgent	0x1837505D104F7a6D8b7e19452610B0A3D652EF12
Osero ALM Relayer / Actor (Prime)	0x29c5A20A49A0D522A3714af97C517a908946b6A8
Core Operator Relayer / Actor (Soter Labs)	0x3dE688267Cf099307aBdd85F64D8efe03D0b2b26
Freezer / Revoker	0xF61F90907551a8A23f0f8EEE9658Fa53326de603

The proxy spell will:

• Set the controller's USDS vault: point the Diamond PAU Controller at the ALLOCATOR-PRYSM-A AllocatorVault.
• Authorize the ALMProxy on the AllocatorVault.
• Approve the ALMProxy on the AllocatorBuffer.

Initial Parameters

Rate limits for initial activation:

Parameter	Max Amount	Slope (Tokens/Day)
LIMIT_USDS_MINT	5 million USDS	5 million USDS/day
LIMIT_USDS_BURN	Unlimited	N/A

[Ethereum] Onboard SparkLend USDS (spUSDS)

• Authorization: Governance Poll ID 1640
• Proposal: Prime Technical Scope

If this executive proposal passes, then the Osero proxy spell will onboard SparkLend USDS (spUSDS) with the following rate limits:

• Deposits:
  • maxAmount: 5 million USDS
  • slope: 5 million USDS per day
• Withdrawals:
  • maxAmount: Unlimited
• maxSlippage: 0.01%

Review

Community debate on these topics can be found on the Sky Governance forum. Please review any linked threads to inform your position before voting.

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Resources

Additional information about the Governance process can be found in the Operational Manual.

To add current and upcoming votes to your calendar, please see the Sky Governance Calendar.