SAEP-08: Offchain Collateralized Lending - December 8, 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:

Summary

This proposal is submitted by Phoenix Labs in its role as a nested contributor, as defined in section [A.6.1.1.1.2.2.2.2.1.2.1.1.1 - Root Edit Proposal Submission Requirements Exception For Nested Contributors](https://sky-atlas.io/#A.6.1.1.1.2.2.2.2.…