Research summary
We reject this duplicate record, not sUSDS itself. The prior description was factually wrong: Spark's own documentation says sUSDS is a Sky product that earns the Sky Savings Rate, not a Spark Savings V2 wrapper routed through the Spark Liquidity Layer. This slug and the approved-with-limits sky-lending memo name the same symbols and economic claim. Keeping two verdicts for one instrument would double-count exposure and create conflicting monitoring. Keep this record rejected as an alias and use sky-lending as the main sUSDS decision. A distinct Spark V2 product such as spUSDC requires its own symbol, slug and review.
Observable review triggers
- Treat the live slug as an alias of the Ethereum USDS and sUSDS contracts already governed by sky-lending; reopen within 5 business days if a symbol or contract changes
- Any catalog or exposure report counting this alias as a distinct economic claim fails the duplicate-identity control
- A replacement product reopens only after distinct symbols and contracts, a mapped yield source and control set, six months of production history, and three proposed-size entry and exit tests
Facts on file
- Verdict
- Rejected
- Type
- Dollar lending
- Chains examined
- Ethereum
- Instruments
- SUSDS, USDS
- Reviewed
- Last confirmed