Transfer Share of Ethena Net Profit to Grove
AI summary
This proposal seeks to transfer a share of net profits from Spark's investment in Ethena's USDe and sUSDe to Grove. Specifically, it proposes to send $625,069 in USDS to Grove's SubProxy. This transfer represents Grove's portion of the net revenue generated in September and October from these investments, which were originally underwritten by Grove.
If passed, $625,069 will be transferred from Spark's treasury to Grove. This benefits Grove by providing them with their earned profits, while Spark's treasury will decrease by that amount. The proposal clarifies a previous agreement regarding profit sharing.
Voting results
🐳 Whale votes
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Transfer Share of Ethena Net Profit to Grove - 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:
Spark previously held a portion of USDe and sUSDe exposure that was underwritten by and attributable to Grove. We plan to transfer Grove’s share of net revenue for September to their SubProxy in the upcoming spell. The remaining residual net-revenue for October wi…