While you are still hesitating about whether to store Spark for points, I, your good buddy, have already earned 1 million points, ranking in the top 1000

Why do I have faith in Spark? Today, I will delve into the top collaborative projects within the Spark ecosystem, clarifying their important roles and functions in the ecosystem, helping you to understand the overall picture of the Spark ecosystem more deeply

At the end of the article, I will provide a Spark interaction tutorial. The earlier you start, the more points you can earn and strive for more airdrop shares

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★｜Collaborative Projects in the Ecosystem

➤ Ethena Labs

Cooperate with the Spark liquidity layer (SLL) to provide USDe liquidity

Ethena Labs is the founding team of USDe, utilizing ETH spot staking + perpetual contract hedging mechanisms to provide approximately $200 million USDe liquidity for Spark SLL, maintaining Delta neutrality and providing stable returns for users. Ethena itself has a TVL exceeding $7.1 billion.

A total of four rounds of financing exceeding $136 million, with investments from multiple top institutions

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➤ Pendle

Achieve yield splitting through deep integration of USDS pool and Spark

Pendle splits interest-earning assets into PT (principal-protected fixed income) and YT (floating leverage income), integrating with Spark via USDS pools, allowing users to switch freely between conservative and aggressive strategies.

Disclosed financing of $15.53 million, with Binance YZi Labs participating in 2023, specific amounts undisclosed

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➤ Morpho Labs

Build DAI and USDC vaults for Spark on the Morpho platform

Morpho Labs creates DAI and USDC vaults for Spark on its platform, allowing users to borrow against PT or cbBTC after collateralization while earning Morpho rewards, thereby increasing capital efficiency.

Disclosed financing of $68 million, led by a16z, with multiple top institutions participating

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➤ Fluid

Utilize a unified liquidity layer to provide Spark with near-zero interest lending solutions

Fluid uses a unified liquidity layer to allow Spark users to use sUSDS for smart debt strategies, with arbitrage bots offsetting borrowing interest against trading fee earnings, bringing borrowing costs close to 0.

The parent company raised $12.4 million in two rounds of financing, with top institutions such as Pantera Capital, Coinbase Ventures, and Standard Crypto participating

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➤ Base

Spark connects to Base to achieve a low-cost and efficient DeFi experience

Base is a Layer 2 network built by Coinbase, and after integration with Spark, users can enjoy extremely low transaction fees and near-instant settlement, with zero slippage for USDC ↔ USDS / sUSDS cross-chain exchanges through the Peg Stability Module (PSM).

As a self-built ecosystem by Coinbase, Base is continuously invested in and supported by Coinbase internally

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➤ Maple Finance

Bring off-chain private credit on-chain through Spark, providing institutional-level lending for BTC collateralized borrowers

Maple Finance provides BTC collateralized borrowing services for institutional users to borrow USDC, with collateral ratios as low as 110%. Spark brings its off-chain private credit on-chain, providing borrowers with lower interest rates and higher security.

Three rounds of financing + IDO totaling $18.03 million, led by Framework Ventures, Polychain, and others

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➤ Sky

Spark's parent company allocates and manages liquidity for the entire ecosystem

Sky manages over $6.2 billion in stablecoin liquidity pools, allocating funds to projects like Ethena, Pendle, Morpho, and Fluid to achieve risk-adjusted optimal returns while holding $3.5 billion in government bonds for ecosystem security.

Formerly known as MakerDAO, raised $61.5 million in four rounds, with top institutions like A16z, Paradigm, and Polychain participating in the investment

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★｜Final Remarks

These projects collaborate with each other to jointly promote the Spark ecosystem towards higher efficiency and decentralization, providing users with lower costs, higher returns, and safer DeFi experiences. In the future, as various parties continue to innovate, the Spark ecosystem will continue to grow and bear more possibilities for financial innovation.

Finally, I want to remind you that Spark has great potential. For those who haven’t jumped on board yet, time is running out. If you don’t want to save money, you can also participate in the Cookie role and receive airdrop shares at zero cost.