Spark Protocol, MakerDAO’s New Lending Platform, Will Expand To Multi-chain

To implement Spark Protocol in a new domain, you must create a Maker forum post in the SubDAO TWO category (basics, technical info, collateral info, info required, liquidity, etc.).

This is your opportunity to contribute to the multi-chain future of the Maker ecosystem.

Spark Protocol is going multi-chain, and preparing for its deployments across diverse domains.

If you’re interested in deploying Spark Protocol in a specific domain, follow these steps:


— Maker (@MakerDAO) July 4, 2023

Domain refers to various blockchain networks, including sidechains and layer 2 solutions.

Phoenix Labs will evaluate submitted proposals and provide MakerDAO with recommendations for new domain names and collateral information to include. In addition, Block Analitica will perform collateral assessment and recommend risk parameters for collateral in Spark on the new domain.

Domain and collateral reviews will be published on Maker Forums. These reviews will provide valuable insight to MKR owners when making decisions regarding Spark deployment on a new domain.

MakerDao, a decentralized autonomous organization operating on the Ethereum blockchain and issuing stablecoin DAI, recently announced the launch of its latest DeFi product, Spark Protocol.

The news was shared via MakerDao’s official Twitter account, which states that Spark Protocol will be available to all DeFi users starting May 9, 2023.

Spark is a DAI and end-user-focused DeFi product that will be deployed on Ethereum. The product must offer lending features for ETH, stETH, DAI, and sDAI. The first version of Spark Protocol, Spark Lend, will be a lending marketplace specifically designed for providing and borrowing cryptocurrencies, focusing on DAI.

Spark users can interact directly with Spark’s user interface, which will connect Maker liquidity to a complete DeFi solution. MakerDAO has stated that Spark is one of many enhancements that the Endgame Era will bring to the MakerDAO ecosystem, enabling a groundbreaking solution that can only arise from the connection between the DeFi product and Maker Protocol.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Sourced from

Leave a Reply
Previous Post

OpenAI pauses ChatGPT’s Bing feature as users were jumping paywalls

Next Post

Is Ripple Ready? SWIFT, Payment Platforms To Enact Upgrade in Coming Months

Related Posts