👉🏻 Spark is Sky's first 'Star' sub-protocol, positioned as 'on-chain capital allocation' and 'robust yield infrastructure'
(Sky is the rebranded MakerDAO, the RWA project that aggressively buys US Treasuries)
Spark directly connects with Sky's billions of dollars in stablecoin reserves, dynamically allocating liquidity between DeFi, CeFi, and RWA, packaging it into combinable yield products for users.
Currently, Spark has absorbed US ultra-short Treasury configurations reaching 2.4 billion USD, accounting for 2/3 of the on-chain US Treasury market share, making it a super leader in RWA.
1️⃣ Three core products
➤ Collateral lending market: Spark Lend (3.55 billion)
Spark's collateral lending market, staking ETH/BTC, lending out USDC/USDS/DAI, etc.
➤ Stable annualized packaging: Savings (2.36 billion)
Package the yield of Sky into transferable yield tokens, currently annualized ≈ 4.5%, dynamically adjusted with governance cycles.
➤ External liquidity support: Spark Liquidity Layer (1.146 billion)
Use Sky's inventory of stablecoins for 'official market making', injecting deep liquidity into external protocols, already deployed on the mainnet and multiple L2s, automatically allocated to efficient scenarios like Aave, Morpho, Ethena, etc.
2️⃣ Sources of revenue
➤ Lending interest rate spread: Spark Lend borrowing rates are set by governance, providing stable spreads for Savings & SPK stakers as cash flow.
➤ RWA yields: SLL will buy short-term US Treasuries (BUIDL, USTB, JTRSY) with Sky stablecoins, with returns flowing back to SSR.
➤ Protocol revenue sharing: 10% of profits from the DAI market returned to the Aave community in exchange for permissions and maintenance support.
3️⃣ Pain points addressed by Spark
Package and allocate 4 billion US Treasury RWA into US dollar stablecoins, injecting massive liquidity into the market, connecting with Aave, Morpho, Ethena, making the protocol 'plug and play' for deep liquidity.
Lending rates are no longer affected by the utilization rate of the liquidity pool, allowing whales and institutions to obtain stable costs, with all positions, yields, and governance decisions verifiable on-chain in real time.
💡 To summarize
Relying on a full product stack of lending-saving-liquidity, Spark's annual income has reached 180 million USD.
For users and organizations seeking transparent yields, needing substantial stable financing, or wanting to introduce deep liquidity to the protocol, Spark is an infrastructure that cannot be ignored.
🔶 Holding BNB also allows you to receive $SPK airdrops, achieving multiple benefits.
➤ More BNB yield pathways: https://binance.com/zh-CN/bnb
➤ Binance account registration: https://binance.com/join?ref=U8TC8WJ2 (20%+ rebate)
