Summary
Ketju does not approve Sky Vaults: one address holds every control role across the vaults, some fees can change without notice, and we could not confirm whether US persons may use them. Sky Vaults are Morpho Vault V2 vaults run by Skybase International, a Cayman Islands entity legally separate from Grove and Spark Liquidity Layer. Ketju does not approve those two either. Within 27 minutes of creating the flagship vault, Skybase permanently gave up its power to set three of the vault’s four transfer gates. On-chain records confirm that commitment to open deposits and redemptions. One address holds the owner, curator and sentinel (pause) roles at once across every Sky Vault. It is a verified multisig contract, but we could not confirm its signers or threshold. Several fee settings have no timelock. Sky’s Terms exclude US persons from its Savings Rate and Token Rewards, and we could not confirm whether that covers Sky Vaults.
Review triggers
- Sky publishes whether US persons are excluded from Sky Vaults
- Skybase separates the owner, curator and sentinel roles across different addresses, or publishes the current multisig’s signers and threshold
- Skybase adds a meaningful timelock to fee settings that can now change with no delay
- Deposits stop falling and hold steady after the three-month decline
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- Ethereum
- Reviewed
- Last confirmed