# Spark proposes narrower curator-independence requirements for Morpho vault controls

> The proposal replaces the blanket prohibition on curator/cancellation-authority overlap with separate signer sets plus at least one fully independent cancellation holder.

- URL: https://riadefi.com/on-chain/2026-09-07-spark-saep-20-risk-curation-framework/
- Type: Control change
- Stage: Proposed
- Evidence: confirmed
- Materiality: material
- Event date: 2026-09-07
- Version: 1, published 2026-09-15 (first published 2026-09-15)
- Follow-up: 2026-09-14
- Advisor-relevant: yes
- Affects: Sky (protocol); Spark Liquidity Layer (protocol)

## What happened

Phoenix Labs submitted SAEP-20 to adapt Spark's Risk Curation Framework to Morpho Vaults v2 and record the Sentora RLUSD vault's roles. A subsequent official reply states that voting has opened.

## What changed

The proposal replaces the blanket prohibition on curator/cancellation-authority overlap with separate signer sets plus at least one fully independent cancellation holder. It adds curator cancellation, recognizes Sentinel roles, requires allocator disclosure, and corrects the recorded USDT vault address.

## What did not change

The evidence does not establish SAEP-20 passage, executive execution, or funded RLUSD deployment. The proposal describes the RLUSD vault as unfunded apart from dust and says its liquidity-layer configuration proceeds independently. No change to Ketju shelf status follows automatically.

## Confirmed

- The proposed framework allows multiple Sentinel holders and requires at least one holder independent of every curator entity.
- The proposal identifies the RLUSD vault at 0xFC8C624B6080a0a780583799f2A862DE936F6E22 and states that its role overlap fails the current framework.
- The record identifies allocator powers over setMaxRate and the liquidity adapter as outside the timelock.
- The proposed text states that removing a Sentinel through the Spark SubProxy requires a Sky Executive Vote, with no additional vault timelock.

## Still open

- Final voting outcome, artifact adoption, and executive execution remain unverified.
- Current role holders, signer independence, and vault funding have not been independently reproduced on-chain.
- The separate liquidity-layer configuration was proposed for a September 10 spell with September 14 execution, conditional on governance approval.

## What it means for an advisor

- Review Sky dependency diligence for curator overlap, independent veto availability, Sentinel removal, and untimelocked allocator powers.
- Add the disclosed framework mismatch to the Spark Liquidity Layer adverse-research file and assess the executed configuration before considering any reopening.
- Distinguish permission to cancel pending curator changes from powers that bypass the timelock.

## Sources

1. [SAEP-20: Update Risk Curation Framework Artifact Section](https://forum.skyeco.com/t/saep-20-update-risk-curation-framework-artifact-section/28221) · Sky governance — Phoenix Labs · 2026-09-07


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.