The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, December 30 at 16:00 UTC.

This is a binary vote.

• You may vote for a single option.
• You should vote for the option which you prefer.
• If you would accept either option, you should vote 'Abstain'.

Review

The community can vote in this poll to express support or opposition to the following following parameter changes for Spark’s direct Ethena staked USDe exposure:

Minting USDe

• max amount (maximum amount that can be executed at once): 50 million USDe.
• slope (recharging rate of capacity): 50 million USDe per day.

Burning USDe

• max amount: 100 million USDe.
• slope: 100 million USDe per day.

Depositing to sUSDe

• max amount: 100 million USDe.
• slope: 100 million USDe per day.

Withdrawing from sUSDe

• max amount: 500 million USDe.
• slope: 250 million USDe per day.

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

• These changes will be included in an upcoming Executive Vote.
• It is expected that this Executive Vote will take place within 30 days of this poll passing, absent external factors.
• If the Executive Vote passes, then these changes will become active in the Sky Protocol after the GSM Pause Delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

---

Resources

If you are new to voting in the Sky Protocol, please see the voting guide to learn how voting works.

Additional information about the Governance process can be found in the Operational Manual.

To add current and upcoming votes to your calendar, please see the Sky Governance Calendar.