[Ethereum] Spark Liquidity Layer - Onboarding with Anchorage - November 3, 2025

Spark's Operational Facilitator has placed a proposal into the voting system on behalf of nested contributor Phoenix Labs.

Review

The Spark community can hereby express support or opposition to the following changes, as described by the author of the proposal:

We plan to onboard with Anchorage to enable Spark to take advantage of Anchorage services including collateral management. This can be used in the future to participate in triparty lending arrangements. Spark currently has exposure to offchain collateralized lending via Maple syrupUSDC (and in the future syrupUSDT), and we are generally happy to continue focusing our offchain lending via Maple as a reliable and scalable conduit. However, onboarding with Anchorage will offer another means of participating in offchain lending, which may be useful if terms available for allocating through Maple become less favorable or if Spark has unique opportunities that are only possible via direct triparty lending with a counterparty (not intermediated through Maple).

This item should be included in the upcoming set of Spark polls, and is intended to give Spark Asset Foundation governance authorization to complete the onboarding process. When available, we will add relevant deposit address information. The actual onboarding to Spark Liquidity Layer will take place in a future executive spell (later than 13 November).

Parameter summary:

• USDC transferAsset
  • Recipient address: tbd upon completion of Anchorage onboarding, will be provided before inclusion in executive spell
  • maxAmount: 5 million
  • slope: 50 million per day

Outcomes

• If "For" receives the most votes, the proposal will be approved.
• If "Against" receives the most votes, the proposal will be rejected. No changes will be implemented.