--- title: Template - [Executive Vote] Solana Bridge Migration Spell 0, Launch Agent 4 DC-IAM Parameter Changes and Genesis Capital Funding, Whitelist Launch Agent 4 ALMProxy on the LitePSM, Prime Agent Proxy Spells - November 13, 2025 summary: Carry out the first stage of the Solana Bridge Migration, adjust the Launch Agent 4 DC-IAM parameters, distribute Launch Agent 4 Genesis Capital, whitelist the Launch Agent 4 ALMProxy on the LitePSM, whitelist Spark proxy spell in Spark Starguard, execute a Launch Agent 4 proxy spell. date: 2025-11-13T00:00:00.000Z address: "$spell_address" --- # [Executive Proposal] Solana Bridge Migration Spell 0, Launch Agent 4 DC-IAM Parameter Changes and Genesis Capital Funding, Whitelist Launch Agent 4 ALMProxy on the LitePSM, Prime Agent Proxy Spells - November 13, 2025 The Core Facilitator, Sidestream, and Dewiz 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](https://manual.makerdao.com/governance/voting-in-makerdao/on-chain-governance) to learn how voting works. --- ## Executive Summary If this executive proposal passes, the following **actions** will occur within the Sky Protocol: - The first stage of the Solana Bridge Migration will be carried out. - The DC-IAM parameters for ALLOCATOR-OBEX-A will be updated. - Genesis Capital of **21,000,000 USDS** will be distributed to the Launch Agent 4 SubProxy. - The Launch Agent 4 ALMProxy will be whitelisted on the LitePSM. - A proxy spell for Spark will be whitelisted in the Spark StarGuard. - A proxy spell for Launch Agent 4 will be executed. **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](https://sky-atlas.io/#A.1.9.3.1). 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 [**24 hours**](https://sky-atlas.io/#A.1.9.3.1.2). This executive proposal **has its earliest execution date set to Monday, November 17, 2025 at 14:00 UTC**. This means that it cannot be executed before that date. 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. --- ## Proposal Details ### Solana Bridge Migration Spell 0 - **Authorization**: [Governance Poll 1603](https://vote.sky.money/polling/Qmetv8fp), [Atlas Entry](https://sky-atlas.io/#A.1.9.4.1) - **Proposal**: [Technical Scope](https://forum.sky.money/t/november-27-2025-prime-technical-scope-solana-pre-configuration-for-upcoming-spell/27404), [Atlas Edit Proposal](https://forum.sky.money/t/atlas-edit-weekly-cycle-proposal-week-of-2025-11-03/27381) If this executive proposal passes, then the first stage of the Solana Bridge Migration will be executed through the following actions: - Call [MigrationInit.initMigrationStep0](https://github.com/sky-ecosystem/wh-lz-migration/blob/4aeb832d712efc0ec2fbad5623207de54b450b0c/deploy/MigrationInit.sol#L112-L124) with the following parameters: - `nttManagerImpV2`: [0xD4DD90bAC23E2a1470681E7cAfFD381FE44c3430](https://etherscan.io/address/0xD4DD90bAC23E2a1470681E7cAfFD381FE44c3430) - `maxFee`: expected to be **0** (unless [Wormhole.messageFee()](https://etherscan.io/address/0x98f3c9e6E3fAce36bAAd05FE09d375Ef1464288B#readProxyContract#F11) returns a non-zero value) - `payload`: expected to contain cross-chain message sent via [Wormhole.publishMessage](https://etherscan.io/address/0x3c3d457f1522d3540ab3325aa5f1864e34cba9d0#code#F1#L17) that will update NttManager on Solana to the new version - Generated by the [wh-program-upgrade](https://github.com/keel-fi/crosschain-gov-solana-spell-payloads/tree/11baa180d4ad6c7579c69c8c0168e17cb73bb6ed/scripts/wh-program-upgrade) script - The actual payload can be found [on GitHub](https://raw.githubusercontent.com/keel-fi/crosschain-gov-solana-spell-payloads/11baa180d4ad6c7579c69c8c0168e17cb73bb6ed/wh-program-upgrade-mainnet.txt) These actions will disable the existing Wormhole-based Solana bridge, resulting in a stop of all inbound and outbound transfers on both sides of the bridge. After the initial spell is executed, LayerZero and the technical teams will ensure that the Wormhole bridge is fully stopped and the bridging queue is empty on both sides of the bridge. Unless there is a queue, this step is expected to take a maximum of a few hours. A follow-up out-of-schedule spell completing the migration will be posted to the voting portal once the appropriate confirmations have been received. ### ALLOCATOR-OBEX-A DC-IAM Parameter Changes - **Authorization**: [Governance Poll 1603](https://vote.sky.money/polling/Qmetv8fp), [Atlas Entry](https://sky-atlas.io/#A.6.1.1.5.2.6.1.2.1.1.4.1) - **Proposal**: [Atlas Edit Proposal](https://forum.sky.money/t/atlas-edit-weekly-cycle-proposal-week-of-2025-11-03/27381) If this executive proposal passes, then the ALLOCATOR-OBEX-A [DC-IAM](https://sky-atlas.io/#A.1.9.3.2.6) parameters will be adjusted as follows: - Increase the [Maximum Debt Ceiling (`line`)](https://sky-atlas.io/#A.3.7.1.1.2.4.1) by 2.49 billion USDS from 10 million USDS to **2.5 billion USDS**. - Increase the [Target Available Debt (`gap`)](https://sky-atlas.io/#A.3.7.1.1.2.4.2) by 40 million USDS from 10 million USDS to **50 million USDS**. - Maintain the [Ceiling Increase Cooldown (`ttl`)](https://sky-atlas.io/#A.3.7.1.1.2.4.3) at **86,400 seconds (24 hours)**. ### Launch Agent 4 Genesis Capital Funding - **Authorization**: [Governance Poll 1604](https://vote.sky.money/polling/QmYPMN4y), [Atlas Entry](https://sky-atlas.io/#A.2.9.2.4.2.1) - **Proposal**: [Atlas Edit Proposal](https://forum.sky.money/t/out-of-schedule-atlas-edit-proposal/27393) If this executive proposal passes, then **21 million USDS** of [Genesis Capital](https://sky-atlas.io/#A.3.7.1.5) will be transferred to the Launch Agent 4 SubProxy at [0x8be042581f581E3620e29F213EA8b94afA1C8071](https://etherscan.io/address/0x8be042581f581E3620e29F213EA8b94afA1C8071). ### Whitelist Launch Agent 4 ALMProxy on the LitePSM - **Authorization**: [Governance Poll 1603](https://vote.sky.money/polling/Qmetv8fp), [Atlas Entry](https://sky-atlas.io/#A.6.1.1.5.2.6.1.2.1.1.4.2) - **Proposal**: [Technical Scope](https://forum.sky.money/t/proposed-changes-to-launch-agent-4-obex-for-upcoming-spell/27370), [Atlas Edit Proposal](https://forum.sky.money/t/atlas-edit-weekly-cycle-proposal-week-of-2025-11-03/27381) If this executive proposal passes, then the Launch Agent 4 ALMProxy at [0xb6dD7ae22C9922AFEe0642f9Ac13e58633f715A2](https://etherscan.io/address/0xb6dD7ae22C9922AFEe0642f9Ac13e58633f715A2) will be whitelisted on the LitePSM. This will allow the ALMProxy to use the `buyGemNoFee` and `sellGemNoFee` functions. ### Prime Agent Proxy Spells If this executive proposal passes, then a Spark Proxy Spell at [0x63Fa202a7020e8eE0837196783f0fB768CBFE2f1](https://etherscan.io/address/0x63Fa202a7020e8eE0837196783f0fB768CBFE2f1) with the codehash `0x6e88f81cc72989a637f4b87592dcde2016272fbceb08a2af3b2effdb2d20c0fb` will be whitelisted in the Spark [StarGuard](https://sky-atlas.io/#A.1.9.2.3.2.2.2.1.1). If this executive proposal passes, then a Launch Agent 4 Proxy Spell at [0xF538909eDF14d2c23002C2b3882Ad60f79d61893](https://etherscan.io/address/0xF538909eDF14d2c23002C2b3882Ad60f79d61893) will be executed. #### Spark ##### [Mainnet] Transfer Share of Ethena Profits to Grove - **Authorization**: [Atlas Entry](https://sky-atlas.io/#A.2.9.2.1) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354) **625,069 USDS** will be transferred from the Spark SubProxy to the Grove SubProxy at [0x1369f7b2b38c76B6478c0f0E66D94923421891Ba](https://etherscan.io/address/0x1369f7b2b38c76B6478c0f0E66D94923421891Ba) as part of the ongoing Spark-Grove USDe and sUSDe revenue share. ##### [Mainnet] Deprecate sUSDS and sDAI Collateral in SparkLend - **Authorization**: [Core Facilitator Approval](https://forum.sky.money/t/november-13-2025-proposed-changes-to-sparklend-for-upcoming-spell-2/27395/3) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-sparklend-for-upcoming-spell-2/27395) The sUSDS and sDAI markets on SparkLend will be deprecated by performing the following parameter adjustments: - sUSDS: - Remove from cap automator and set [Supply Cap](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.9) to **1 sUSDS**. - Set [Max LTV](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.4) to **0**. - sDAI: - Remove from cap automator and set [Supply Cap](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.9) to **1 sDAI**. - Set [Max LTV](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.4) to **0**. ##### [Mainnet] Claim Reserves from USDS and DAI Markets - **Authorization**: [Atlas Entry](https://sky-atlas.io/#A.6.1.1.1.2.6.1.2.1.2.3) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354) All accrued reserves for SparkLend USDS and SparkLend DAI will be claimed. ##### [Mainnet] Update SparkLend PYUSD Interest Rate Model - **Authorization**: [Core Facilitator Approval](https://forum.sky.money/t/november-13-2025-proposed-changes-to-sparklend-for-upcoming-spell-2/27395/3) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-sparklend-for-upcoming-spell-2/27395) The SparkLend PYUSD [Interest Rate Model](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.3) will be updated to use a higher base rate benchmarked to the Sky Savings Rate, alongside a lower slope 1, with the following parameter changes: - [Base Rate](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.13): **SSR** - [Slope 1](https://sky-atlas.io/#A.6.1.1.1.3.2.1.1.1.15): **2%** ##### [Mainnet] Increase Spark Liquidity Layer Rate Limits for SparkLend USDC and USDT - **Authorization**: [Snapshot Poll](https://snapshot.box/#/s:sparkfi.eth/proposal/0xe697ded18a50e09618c6f34fb89cbb8358d84a4c40602928ae4b44a644b83dcf) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354) The Spark Liquidity Layer [Rate Limits](https://sky-atlas.io/#A.2.3.9.1.1.1.2.2) for SparkLend USDC and USDT will be adjusted as follows: - SparkLend USDC: - Deposits: - maxAmount: **100 million USDC** (no change) - slope: Increase by 150 million USDC per day from 50 million USDC per day to **200 million USDC per day**. - Withdrawals: - maxAmount: **Unlimited** (no change) - SparkLend USDT: - Deposits: - maxAmount: **100 million USDT** (no change) - slope: Increase by 100 million USDT per day from 100 million USDT per day to **200 million USDT per day**. - Withdrawals: - maxAmount: **Unlimited** (no change) ##### [Mainnet] Increase Deposit Caps for spUSDC, spUSDT, and spETH Savings Vaults - **Authorization**: [Snapshot Poll](https://snapshot.box/#/s:sparkfi.eth/proposal/0x785d3b23e63e3e6b6fb7927ca0bc529b2dc7b58d429102465e4ba8a36bc23fda) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354/2) The [Deposit Caps](https://docs.spark.fi/dev/savings/spark-vaults-v2#deposit-cap) for the spUSDC, spUSDT, and spETH Savings Vaults will be adjusted as follows: - spUSDC: - Increase the Deposit Cap by 250 million USDC from 250 million USDC to **500 million USDC**. - spUSDT: - Increase the Deposit Cap by 250 million USDC from 250 million USDT to **500 million USDT**. - spETH: - Increase the Deposit Cap by 50,000 ETH from 50,000 ETH to **100,000 ETH**. ##### [Base] Spark Blue Chip USDC Morpho Vault - Onboard ETH/USDC Market - **Authorization**: [Snapshot Poll](https://snapshot.box/#/s:sparkfi.eth/proposal/0xd7397d29254989ce4c5785f3c67a94de21018abc4e9a76b1e7fc359aec36e60a) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354) The ETH/USDC market will be onboarded to the [Spark Blue Chip USDC Morpho Vault](https://morpho.blockanalitica.com/base/vaults/vaults/0x7bfa7c4f149e7415b73bdedfe609237e29cbf34a) on Base with the following parameters: - [ETH/USDC 86% LLTV Pool](https://morpho.blockanalitica.com/base/markets/8793cf302b8ffd655ab97bd1c695dbd967807e8367a65cb2f4edaf1380ba1bda): - `Pool id`: 0x8793cf302b8ffd655ab97bd1c695dbd967807e8367a65cb2f4edaf1380ba1bda - Supply Cap: **1 billion USDC** ##### [Avalanche] Increase spUSDC Savings Vault Deposit Cap - **Authorization**: [Snapshot Poll](https://snapshot.box/#/s:sparkfi.eth/proposal/0xb31a1c997c3186943b57ce9f1528cb02c1dc5399dcdc151e60d136af46d5c126) - **Proposal**: [Forum Post](https://forum.sky.money/t/november-13-2025-proposed-changes-to-spark-for-upcoming-spell/27354) The spUSDC [Deposit Cap](https://docs.spark.fi/dev/savings/spark-vaults-v2#deposit-cap) on Avalanche will be adjusted as follows: - Increase the spUSDC Deposit Cap by 100 million USDC from 150 million USDC to **250 million USDC**. #### Launch Agent 4 ##### [Mainnet] Initialize the Obex Liquidity Layer - **Authorization**: [Governance Poll 1603](https://vote.sky.money/polling/Qmetv8fp) - **Proposal**: [Technical Scope](https://forum.sky.money/t/proposed-changes-to-launch-agent-4-obex-for-upcoming-spell/27370), [Atlas Edit Proposal](https://forum.sky.money/t/atlas-edit-weekly-cycle-proposal-week-of-2025-11-03/27381) The Obex Liquidity Layer will be initialized on Ethereum mainnet with the following addresses and [Rate Limits](https://sky-atlas.io/#A.2.3.9.1.1.1.2.2): ###### Contracts | Contract Name | Address | |-----------------------------|----| | Allocator Buffer | [0x51E9681D7a05abFD33EfaFd43e5dd3Afc0093F1D](https://etherscan.io/address/0x51E9681D7a05abFD33EfaFd43e5dd3Afc0093F1D) | | Allocator Vault | [0xF275110dFE7B80df66a762f968f59B70BABE2b29](https://etherscan.io/address/0xF275110dFE7B80df66a762f968f59B70BABE2b29) | | SubProxy | [0x8be042581f581E3620e29F213EA8b94afA1C8071](https://etherscan.io/address/0x8be042581f581E3620e29F213EA8b94afA1C8071) | | Mainnet Controller | [0xF2bB664f16E2df4b0c71F9d2cFc386504E795b7A](https://etherscan.io/address/0xF2bB664f16E2df4b0c71F9d2cFc386504E795b7A) | | ALM Proxy | [0xb6dD7ae22C9922AFEe0642f9Ac13e58633f715A2](https://etherscan.io/address/0xb6dD7ae22C9922AFEe0642f9Ac13e58633f715A2) | | Rate Limits | [0x81f8f5306cF80655Edff78f89860a8D89118E150](https://etherscan.io/address/0x81f8f5306cF80655Edff78f89860a8D89118E150) | | ALM Relayer (Safe Proxy 4/7) | [0x5d36918C8F4726a62257AA79a50E53D553465663](https://etherscan.io/address/0x5d36918C8F4726a62257AA79a50E53D553465663) | | ALM Relayer (Safe Proxy 2/3) | [0x2b1D60B11B7015fB83361a219BE01B7564436054](https://etherscan.io/address/0x2b1d60b11b7015fb83361a219be01b7564436054) | | ALM Freezer (Safe Proxy 2/4) | [0x1924b6990B63c5f820b81a23CD40383808D416D8](https://etherscan.io/address/0x1924b6990B63c5f820b81a23CD40383808D416D8) | ###### Initial Parameters Onchain [Rate Limits](https://sky-atlas.io/#A.2.3.9.1.1.1.2.2) for the Obex Liquidity Layer for initial activation: | Parameter | Max Amount | Slope | |------------------------------------|------------------|-------------------------| | LIMIT_USDS_MINT | 100,000,000 USDS | 50,000,000 USDS per day | | LIMIT_USDS_TO_USDC | 100,000,000 USDC | 50,000,000 USDC per day | | LIMIT_4626_DEPOSIT (Maple Finance) | 100,000,000 USDC | 20,000,000 USDC per day | | LIMIT_MAPLE_REDEEM | Unlimited | N/A | ##### Onboard SyrupUSDC to the Obex Liquidity Layer - **Authorization**: [Governance Poll 1603](https://vote.sky.money/polling/Qmetv8fp) - **Proposal**: [Technical Scope](https://forum.sky.money/t/proposed-changes-to-launch-agent-4-obex-for-upcoming-spell/27370), [Atlas Edit Proposal](https://forum.sky.money/t/atlas-edit-weekly-cycle-proposal-week-of-2025-11-03/27381) syrupUSDC will be onboarded to the Obex Liquidity Layer with the following [Rate Limits](https://sky-atlas.io/#A.2.3.9.1.1.1.2.2): - Deposits: - maxAmount: **100 million USDC** - slope: **20 million USDC per day** - Withdrawals: - maxAmount: **Unlimited** ## Review Community debate on these topics can be found on the Sky [Governance forum](https://forum.sky.money/). Please review any linked threads to inform your position before voting. --- ## Resources Additional information about the Governance process can be found in the [Operational Manual](https://manual.makerdao.com). To add current and upcoming votes to your calendar, please see the [Sky Governance Calendar](https://manual.makerdao.com/makerdao/calendars/governance-calendar).