While most projects are still seeking vitality in the 'old-fashioned' narrative, Spark has already landed structurally.
I always thought this was a new protocol that emerged out of nowhere to attract attention on the cookie platform, but after learning about it through rootddete and grok, I realized it is a continuation of the well-established stablecoin system MakerDAO, now belonging to the Sky Ecosystem, which manages $8 billion in assets and supports $DAI and $USDS.
Project background: it's not 'new wine in an old bottle', but 'old tree sprouting new buds' or 'the iron tree has bloomed'.
Spark was established in 2023 and is a sub-DAO of the Sky Ecosystem, focusing on stablecoin lending, savings, and liquidity management.
It inherits the tradition of decentralized governance from MakerDAO and continues the pursuit of on-chain finance. It is not a 'new DeFi', but an evolution from a mature system.
Product logic: it will be understood as a 'lending platform', but it actually aims to be a funding hub.
Integrating $USDS and $DAI into a highly integrated capital allocation system to provide returns.
SparkLend is its core product, integrating Aave, the USDC treasury, and the RWA module, forming a real channel for on-chain and off-chain funds.
Governance structure: relies on mechanisms, not personal branding.
The project team has no deliberate exposure, no operation of 'personal brand IP', and all operational logic is advanced through the DAO.
This is the evolutionary outcome of MakerDAO's years of governance efforts in Spark.
Development vision: connect real assets and serve as the liquidity foundation for DeFi.
Spark's goal is not just to optimize on-chain interest rates, but to build the Spark Liquidity Layer (SLL) of the Ethereum ecosystem. It actively connects with RWA and has introduced about $2.6 billion in traditional funds, promoting the integration of DeFi and real assets, aiming to take on a more fundamental role in capital flow in the next cycle.