Today marks a significant milestone in achieving the long held objective of ZERO governance-determined fixed core expenses for Sky. Two weeks ago the community voted to approve funding for the ecosystem entities and permanently end all governance‑determined fixed core expenses. The executive has been approved and the changes are being implemented, including the transfer of funds and other important structural shifts. This plan was first introduced back in February with this post: https://forum.sky.money/t/sky-2025-towards-parallel-growth-and-0-core-expenses-by-end-of-year/26009 Here are the biggest takeaways: No more expenses: After fulfilling its original mission and governance mandate, the Launch Project is completed and core expenses are going to zero, with the exception of minimal short-term commitments to some core contributor teams that have yet to wind down and funding for the Core Council. Aggregate Risk Capital vs Surplus Buffer: With the development of the Sky Agent Framework and growth of Star Agents, like Spark, the best way to view the financial stability and the strength of the system moves beyond just the original Surplus Buffer to a more sophisticated concept of the Aggregate Risk Capital. Specifically, the risk capital and market cap of each Star combined with the Surplus Buffer creates a more full view of the strength of the system. Currently, the risk capital of Spark and the total market cap of Spark are also backstops for the Sky Ecosystem. This will expand as each Star token goes live. Aggregate Risk Capital will soon appear on http://info.sky.money. Currently the aggregate risk capital value is above 50M. Unsellable SKY Endowment: With the exception of minimal short-term commitments to some core contributor teams, the Sky Frontier Foundation is barred from selling or distributing any SKY in normal circumstances. Instead, it can only use it for Staking Borrow and Staking Rewards to fund its operations as an evergreen foundation. The Sky Frontier Foundation will, in rare cases where it is necessary to do so, be able to transfer SKY to other entities, if those entities are also strictly prohibited from selling SKY. SKY Accumulation Over Time: The Sky Frontier Foundation is required to increase its holdings of SKY over time. In the long term 10 % of all net revenue—from incubators, SKY staking yields, business-development deals, and any other profitable activity of the Sky Frontier Foundation—must be used to purchase additional SKY, which will increase its SKY Staking Rewards income and SKY Borrow capacity, making it more long term sustainable. The Sky Frontier Foundation may also choose to acquire additional SKY for the purpose of further increasing its SKY Staking Rewards income, and SKY Borrow capacity. If the SKY price is very high, the SKY accumulation can follow a system similar to the Smart Burn Engine to avoid accumulating SKY at bad prices. Full details, context and discussions of recent proposals to Sky governance can be found in these forum posts: · https://forum.sky.money/t/sky-2025-towards-parallel-growth-and-0-core-expenses-by-end-of-year/26009 · https://forum.sky.money/t/the-sky-core-simplification-process/26870 · https://forum.sky.money/t/sky-ecosystem-entities-and-the-treasury-management-function/26985 Rune will host a Q&A on the next Sky Community Call (date and time details to be announced).(Sky)