Summary
Ketju does not approve Spark Savings as a separate holding: it names the same sUSDS that Ketju's Sky memo approves with limits, and two verdicts for one instrument would count the exposure twice. This verdict passes no judgment on sUSDS itself. Spark's own documentation says sUSDS is a Sky product that earns the Sky Savings Rate, and Spark does not route it through the Spark Liquidity Layer as a Spark Savings V2 wrapper. Both listings name the same symbols and economic claim, and two verdicts would also conflict in monitoring. Every sUSDS decision belongs in the Sky memo. A separate Spark V2 product such as spUSDC needs its own symbol, listing and review.
Review triggers
- Ketju treats this listing as an alias of the Ethereum USDS and sUSDS contracts the Sky memo covers, and reviews it within 5 business days if a symbol or contract changes
- Any catalog or exposure report that counts this listing as a separate economic claim fails the duplicate check
- A replacement product gets a review only after it has its own symbols and contracts, a mapped yield source and set of controls, six months of production history, and three entry and withdrawal tests at the proposed size
Facts
- Verdict
- Not approved
- Type
- Dollar lending
- Chains examined
- Ethereum
- Instruments
- SUSDS, USDS
- Reviewed
- Last confirmed