# Spark transfer permissions and OUSD exposure proposals

> Phoenix Labs seeks authority for a second Base transfer controller and OUSD exposure through Bridge and Uniswap. Sky would control new Beacon integrations.

- URL: https://riadefi.com/on-chain/2026-10-26-sky-spark-2026-11-05-proposed-changes/
- Type: Governance
- Stage: Proposed
- Evidence: confirmed
- Materiality: material
- Event date: 2026-10-26
- Version: 1, published 2026-10-27 (first published 2026-10-27)
- Follow-up: 2026-10-30
- Advisor-relevant: no
- Affects: Sky (formerly Maker) savings (protocol)

## What happened

Phoenix Labs proposed Spark controller permissions, OUSD transactions and a slower debt-ceiling adjustment schedule on October 26, 2026.

## What changed

Phoenix Labs seeks authority for a second Base transfer controller and OUSD exposure through Bridge and Uniswap. Sky would control new Beacon integrations.

## What did not change

Phoenix Labs describes proposed permissions without establishing execution. The proposal preserves the existing Base controller and its CCTP V1 limits.

## Confirmed

- Phoenix Labs proposed a Base-to-Ethereum CCTP V2 limit of 5,000,000 USDC, replenishing at 50,000,000 USDC per day, on October 26, 2026.
- Phoenix Labs proposed adding its automation wallet as an actor and Soter Labs multisigs as grantor and revoker on October 26, 2026.
- Phoenix Labs proposed delegating rate-limit adjustments and specified emergency actions to the PAS Configurator on October 26, 2026.
- Phoenix Labs proposed transferring Base Beacon administration from the Spark Executor to the Sky governance relay on October 26, 2026.
- BA Labs supported interim OUSD exposure with a 100% Capital Ratio Requirement and a $20 million maximum on October 26, 2026.
- Phoenix Labs proposed increasing Spark's debt-ceiling adjustment interval from 12 hours to 24 hours on October 26, 2026.

## Still open

- SPK holders must complete the polls, which Phoenix Labs scheduled to close on October 29, 2026.
- Phoenix Labs had yet to supply deployed payload addresses in the proposal.
- Sky's remaining OUSD review must address the issuer, reserves, administrator authority and deployed audit coverage.
- Sky governance must authorize and execute the final changes before the proposed permissions become operative.

## What it means for an advisor

- Ketju should review the Sky memo's allocator counterparty exposure and the parties authorized to transfer assets or change transfer limits.
- Ketju should examine OUSD's administrator authority and confirm the final combined exposure limit before updating its analysis of USDS backing.
- Advisors should retain the current Sky limits while Ketju reviews the final authorization and execution evidence.

## Sources

1. [[November 5, 2026] Proposed Changes to Spark for Upcoming Spell](https://forum.skyeco.com/t/november-5-2026-proposed-changes-to-spark-for-upcoming-spell/28351) · Phoenix Labs, Spark contributor · 2026-10-26


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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.