Poll: SparkLend Ethereum - Onboard sUSDS to SparkLend as a Collateral-only Asset - October 7, 2024

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Ecosystem team. This Governance Poll will be active for three days beginning on Monday, October 7 at 16:00 UTC.

This is a binary vote.

• You may vote for a single option.
• You should vote for the option which you prefer.
• If you would accept either option, you should vote ‘Abstain’.

Review

The community can vote in this poll to express support or opposition to the following onboarding sUSDS as a collateral-only (i.e., non-borrowable) asset on SparkLend Ethereum with the following parameters:

• Token: sUSDS
• Token Address: 0xa3931d71877c0e7a3148cb7eb4463524fec27fbd
• Oracle: Fixed 1 USD * sUSDS/USDS redemption rate from the token contract.
• Optimal Utilization: 80%
• Base: 0%
• Slope1: 2%
• Slope2: 300%
• Stable rate func (deprecated): N/A
• Borrow Enabled: No
• Isolation Borrowable: No
• Stable Rate Borrowing: No
• Siloed Borrowing: No
• Flash Loan Enabled: No
• Loan To Value: 79%
• Liquidation Threshold: 80%
• Liquidation Bonus: 5%
• Reserve Factor: 10%
• Supply Cap: 50 million sUSDS
• Supply Cap Absolute Maximum Exposure (max): 500 million sUSDS
• Supply Cap Target Available Exposure (gap): 50 million sUSDS
• Supply Cap Automator Cooldown Period (ttl): 12 hours
• Borrow Cap: 0 sUSDS
• Borrow Cap Absolute Maximum Exposure (max): N/A
• Borrow Cap Target Available Exposure (gap): N/A
• Borrow Cap Automator Cooldown Period (ttl): N/A
• Isolation Mode: No
• Isolation Mode Debt Ceiling: N/A
• Liquidation Protocol Fee: 10%
• High Efficiency Mode (Emode) Category: 0

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the ‘Yes’ option exceed the votes for the ‘No’ option, then the following actions will be taken:

• Phoenix Labs will prepare a Spark spell to onboard sUSDS to SparkLend Ethereum as a collateral-only asset with the specified parameters.
• An upcoming Executive Vote will include a proposal to execute the Spark spell.
• It is expected that this Executive Vote will take place within 30 days of this poll passing, absent external factors.
• If the Executive Vote passes, then these changes will become active in SparkLend after the GSM Pause Delay has expired.

If the votes for the ‘No’ option equal or exceed the votes for the ‘Yes’ option then no further action will be taken at this time.

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Resources

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

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.