Research summary
This review rejects Sky Money because one address controls key roles and an eligibility question remains unresolved. Sky Money is confirmed as a genuinely distinct third Sky-ecosystem allocator: Sky Vaults, a set of Morpho Vault V2 vaults operated by Skybase International, a Cayman Islands entity legally separate from Grove and Spark Liquidity Layer, both already rejected elsewhere in this batch. One finding is both positive and verifiable. Within 27 minutes of vault creation, Skybase permanently gave up its own ability to ever gate three of the flagship vault’s four transfer controls. On-chain records confirm this commitment to permissionless deposits and redemptions. But a single address holds the owner, curator, and sentinel (pause) roles at the same time across every Sky Vault, with no separation of powers. That address is a verified multisig contract, but this review could not confirm its signer identities or threshold. Several fee-setting parameters have no timelock at all, so Skybase could change fees with no advance notice. This review also could not confirm whether US persons are excluded from Sky Vaults specifically, as they are from Sky’s Savings Rate and Token Rewards products.
Observable review triggers
- Whether US persons are excluded from Sky Vaults specifically is affirmatively confirmed one way or the other
- Owner, curator, and sentinel roles are separated across distinct addresses, or the current multisig's signer identities and threshold are disclosed
- A meaningful timelock is added to fee-setting parameters currently changeable with no delay
- TVL stabilizes following the documented three-month decline
Facts on file
- Verdict
- Rejected
- Type
- Other
- Chains examined
- Ethereum
- Reviewed
- Last confirmed