Spark proposes USDG and RLUSD liquidity integrations

What happened

Phoenix Labs proposed adding USDG/USDS and RLUSD/USDS Uniswap V4 liquidity positions, an RLUSD/USDC Curve swap route, recurring SparkLend reserve claims, and a 1,756,359 USDS buyback transfer.

What changed

If executed, Spark would gain new USDG and RLUSD issuer, depeg, pool, and planner-execution exposure under replenishing deposit and swap limits.

What did not change

The record does not establish Snapshot passage or spell execution. No Spark contract would be deployed, upgraded, or repointed, and the proposed pools would use the existing ALM Controller.

Confirmed

• Each proposed Uniswap V4 pool has a 10 million deposit maximum and unlimited withdrawals.
• The USDG pool's proposed deposit slope is 100 million per day and swap slope is 200 million per day.
• The RLUSD pool's proposed deposit slope is 50 million per day and swap slope is 100 million per day.
• The Curve RLUSD/USDC integration is swap-only, with a 5 million maximum, 25 million-per-day slope, and 0.1% maximum slippage.
• The Spark Risk Council and BA Labs supported advancing the proposed items to voting.
• The recurring buyback transfer is proposed at 1,756,359 USDS.

Still open

• Snapshot outcomes and final executive-spell execution.
• The final live pool and rate-limit configuration.
• Actual cumulative USDG and RLUSD inventory and available exit liquidity.
• Whether the buyback calculation's treatment of accrued but unrealized user yield was reconciled with the Atlas definition.
• The financial effect of reserve claims and new stablecoin concentration on Sky backing.

What it means for an advisor

• Review the Sky dependency and backing map if the spell executes because new stablecoin issuer and pool exposures would enter Spark's allocation path.
• Keep the rejected SparkLend and Spark Liquidity Layer conclusions unchanged unless their stated reopen criteria are independently satisfied.
• Verify actual positions, utilization, rate limits, withdrawal capacity, and executed buyback transfer after governance action.