[Ethereum] Spark Liquidity Layer - Onboard Curve weETH/WETH-ng for Swaps - January 5, 2026

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:

Onboarding the Curve weETH/WETH-ng pool for swaps will allow Spark to begin backing spETH deposits with weETH. Etherfi’s weETH token is already broadly integrated across defi, including in SparkLend as a core collateral asset. While restaking does add additional incremental risk to the product vs simple LSTs, it also allows weETH to offer consistently higher yields vs Lido stETH.

Support for primary market minting and redemption of weETH will be added in a future update to the ALM controller. Until that time, we expect total allocations into weETH will remain limited to avoid overburdening limited secondary market liquidity sources. the Curve weETH/WETH-ng pool for swaps will allow Spark to begin backing spETH deposits with weETH. Etherfi’s weETH token is already broadly integrated across defi, including in SparkLend as a core collateral asset. While restaking does add additional incremental risk to the product vs simple LSTs, it also allows weETH to offer consistently higher yields vs Lido stETH.

Parameter summary:

• Curve weETH/WETH-ng
  • Pool address: 0xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd50xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd5
  • Swaps
    • maxAmount: 100
    • slope: 1,000 per day
    • maxSlippage: 0.25%

The proposed Spark Artifact changes can be found in the following pull request: https://github.com/sky-ecosystem/next-gen-atlas/pull/155

Outcomes

• If "For" receives the most votes, the proposal will be approved. The associated pull request will be merged into Spark's artifact. When required, the listed changes will proceed to implementation by the relevant actors.
• If "Against" receives the most votes, the proposal will be rejected. No changes will be implemented.