BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

MakerDAO Launches Spark Protocol: A New Era in DeFi Lending

by BlockNews Team
May 10, 2023
in BUSINESS, CRYPTO, DEFI, FINANCE
Reading Time: 3 mins read
A A
1
SHARES
13
VIEWS
Share on XShare in TelegramShare on Reddit
  • The Spark Protocol is part of MakerDAO’s “Endgame Era,” a long-term plan for improving and restructuring the organization.
  • Spark Protocol introduces supply and borrowing features for cryptocurrencies like Ether (ETH), staked Ether (stETH), DAI, and staked DAI (sDAI).
  • The protocol’s integration with Maker’s D3M (Direct Deposit Dai Module) allows for interaction between the Maker ecosystem and third-party lending pools.

The Spark Protocol introduces a “lending marketplace” built around MakerDAO’s DAI stablecoin, providing users with both supply and borrowing features for cryptocurrencies such as Ether (ETH), staked Ether (stETH), DAI, and staked DAI (sDAI). With its end-user focus and competitive interest rates, this revolutionary protocol signals a significant advancement in DeFi lending.

The Spark Protocol’s integration with Maker’s D3M (Direct Deposit Dai Module) is particularly noteworthy. This link facilitates interaction between the Maker ecosystem and third-party lending pools, empowering users to borrow DAI at more competitive rates. In its initial phase, the annual rate for borrowing is set at a modest 1.11%.

As explained by MakerDAO, “This direct wholesale credit line in DAI injects and automatically balances fresh DAI liquidity into Spark Lend and enables its users to access the best rates in the market.” Essentially, this machine delivers a tremendous boost to MakerDAO’s DAI lending capabilities, increases liquidity, and broadens the range of liquidity options for users.

Strengthening the MakerDAO Ecosystem

The roll-out of Spark Protocol is part of the broader “Endgame Era,” a long-term restructuring and improvement plan for the MakerDAO. By serving as the underlying infrastructure for Spark Lend, Spark Protocol further strengthens the MakerDAO ecosystem. Its implementation promises to accelerate the adoption and usage of DAI while introducing an efficient, predictable rate system for end-users.

Another significant feature of Spark is its integration with MakerDAO’s Peg Stability Module, which enables users to swap between DAI and USDC without any slippage. This capability facilitates stablecoin swaps, adding an extra layer of convenience and flexibility for users.

Phoenix Labs: A Collaborative Effort

The development and launch of Spark Protocol were only possible with the collaborative efforts of Phoenix Labs. As a contributing firm to MakerDAO, Phoenix Labs played a vital role in this project, lending its expertise to bring this innovation to life.

Sam MacPherson, CEO of Phoenix Labs, captured the essence of this collaborative innovation: “As MakerDAO continues to implement aspects of the Endgame Era, Spark Protocol’s introduction will fuel further adoption and use of DAI. Phoenix Labs contributed to Spark Protocol to support the long-term growth and innovation of MakerDAO. Spark Protocol connects the best DeFi products with Maker’s liquidity.”

Spark Protocol’s launch marks a significant milestone in the evolution of the MakerDAO ecosystem. As we move deeper into the Endgame Era, we can expect to see more ground-breaking innovations from MakerDAO, continually enhancing the DeFi landscape for all users.

Tags: BusinessDeFimakerdaoSpark ProtocolStablecoin
TweetShareShare
Previous Post

US Joint Committee Hearing on Crypto Regulation

Next Post

UK Tax Authorities Propose New Legislation Allowing the Seizure of Debtor’s Bitcoin Held on Public Crypto Exchanges

DON'T MISS THESE! HOT OFF THE PRESS

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?
CRYPTO

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Load More

Related News

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

Pepe Coin’s Wild Rebound: Bull Trap or Breakout Brewing?

July 1, 2025
Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.