Recently, the secondary market has not been doing well, and staking ETH and SOL for airdrops is not reassuring; the value of the airdrop may not even match the decline of ETH and SOL. Therefore, I, Chili Brother, have been searching for projects to earn airdrops using stablecoins because at least stablecoins won't drop in value. Recently, I discovered that Spark allows participation with stablecoins, and it has a solid background.
Spark is a DeFi application that belongs to the Sky ecosystem (formerly MakerDAO), focusing on on-chain capital allocation and liquidity management. People familiar with the crypto space should know about MakerDAO, which was established in 2013 and has stood the test of time for 12 years. Spark is a project incubated by MakerDAO itself. Let's take a look at Spark's current products. Spark's current offerings include Spark Savings (earning returns on stablecoin deposits) and SparkLend (decentralized lending market), managing assets exceeding $6 billion, with an annual income of approximately $355 million. Therefore, Spark not only has the backing of a long-standing project but also manages a substantial scale, making it self-sustainable and less likely to exit scam. Additionally, Spark has received support from top institutions such as a16z and Paradigm, with a total asset management scale exceeding $8 billion, categorizing it as a large project. This is the kind of financially robust project that I, Chili Brother, prefer.
The tutorial for participating in Spark is relatively simple; just having USDC is enough. By depositing USDC, you can earn Spark points, which can later be exchanged for Spark airdrops. Our goal is to earn as many points as possible. Below is the detailed tutorial:
1. Withdraw 0.008 ETH (about $20) and any amount of USDC from the exchange to the ETH mainnet of your wallet.
2. Open the official website app.spark.fi/points/PXFRCC, connect your wallet in the upper right corner, confirm that the code is PXFRCC (this code can earn you an extra 10% in points), then click 'continue'.
3. Click on 'USDS' on the left side, then scroll down to find the USDC section, click 'deposit', and then enter the amount of USDC you wish to deposit in the pop-up box, followed by clicking 'approve' and 'convert'.
4. Open the Pendle official website app.pendle.finance/trade/pools/0xdace1121e10500e9e29d071f01593fd76b000f08/zap/in?chain=ethereum, connect your wallet in the upper right corner, then enter the amount of USDC you would like to deposit, and finally click 'zap in'.
That’s all for the tutorial on participating in Spark.