A new Sky Executive Vote is now live. If passed, the proposed changes to the Sky Protocol will take effect 16 hours after approval by the Sky ecosystem governance, impacting users as follows:
Changes to the Stability Fee, DAI Borrow Rate on Spark, and Savings Rate:
âą WBTC Vault Stability Fees will increase: WBTC-A to 9.25%, WBTC-B to 9.75%, and WBTC-C to 9%.
âą The Dai Savings Rate will decrease to 5.5%, and the Sky Savings Rate will increase to 6.5%.
âą The Effective DAI Borrow Rate on SparkLend will decrease to 6.5%.
Final LITE-PSM-USDC-A Migration (Phase 3)
As submitted by @BlockAnalitica, this vote will complete the LitePSM implementation. All USDC reserves will be migrated to LITE-PSM-USDC-A, which will offer more transaction capacity with no fees (tin and tout remain at 0%). The old PSM-USDC-A will be phased out. This change aims to provide smoother, fee-free access to USDC liquidity.
Activation of Aave Lido Market Spark USDS Direct Deposit Module (DDM)
After onboarding USDS to Aave v3, Sky governance will vote to inject 100 million USDS into Aaveâs Lido market via Spark. Aave users will have immediate access to 50 million USDS, with a 24-hour cooldown for additional borrowing.
This move aims to provide better borrowing rates and enhance liquidity in Aaveâs Lido market.
WBTC-A, WBTC-B, and WBTC-C Liquidation Parameter Updates
If approved, the following risk mitigation changes will apply to WBTC Legacy Vaults:
âą The liquidation penalty for WBTC-A, WBTC-B, and WBTC-C will drop to 0%.
âą The WBTC-A liquidation ratio will increase to 150% over 6 days.
âą The WBTC-B liquidation ratio will rise to 150% over 6 days.
These changes reduce liquidation costs while tightening risk controls.
If this Executive Vote passes, the updates will take effect 16 hours after the GSM Pause Delay. Note that this proposal includes an office-hours modifier and can only be executed between 14:00 and 21:00 UTC, Monday through Friday.
