According to 《The Block》报道, Spark Protocol, the Borrower DAO in the Sky generation system, is currently allocating up to 11 Yumi Yuan Spark liquidity layers to USDe and sUSDe on Ethena due to “favorable market conditions”. Below, an annual return of approximately 27% to facilitate Sky’s entry and maximize returns for Savings USDS security holders. (APY).
Spark Protocol, a subsidiary of Sky (formerly MakerDAO), has assembled Ethena’s USDe synthetic beauty elements into its “liquidity layer”. increases revenue bandwidth and improves “packet efficiency”.
USDe was first proposed in 2024 and developed separately within a fixed band area to maintain arithmetic-based tradability. This, like other fixed band products, is meant to provide benefits to users rather than support products from enterprises like Tether, making it the fourth fixed band.
Prior to this latest offering, Spark fluidized bed production was limited to Circle’s fixed band and Sky’s sUSDe via Ethena’s USDe and sUSDe. The fund is built directly into its investment mix and can earn annual returns of approximately 27% under “favorable market conditions.”
“The introduction of Ethena demonstrates Spark’s support for new extensibility and extensibility,” Spark wrote in an exposition.
As shown in the graph, this is the first step that Spark has taken on its liquid layer and is aimed at making it easier for other DeFi tokens to access USDS in Sky’s profit-taking facility.
“By incorporating Ethena’s USDe and sUSDe into its products, Spark adds a major revenue mechanism to its basic design and prepares for the maximization of savings USDS holders and the Spark generation system,” Spark states. Masu.
The Spark liquidity layer manages fixed band liquidity for 62 units, allowing users to convert Circle’s USDC fixed band into Sky’s USDS or revenue fixed band ‘Savings USDS’ (sUSDS) on their chosen support network. Can be converted. The fixed interest rate is determined by Sky’s processing DAO, and the current interest rate is approximately 12.5%, supported by Sky’s input sources (including ultra-strong DeFi funds and real-world dosing).
USDS is currently the third fixed band calculated on market prices and can completely replace MakerDAO’s original micellar block DAI, which has since been ranked as the fifth fixed band.
Since March, Spark has contacted Ethena’s USDe and sUSDe gateways through its super-powerful Morpho Gold.
“Considering Ethena’s significant progress last month, the current USDe supply exceeds USDS and we are adopting a higher quality top dollar, i.e. 20% of USDe supply ” and this large one is equivalent to 10.5 yuan USDS.
At the same time, Ethena proposed an entry fee of approximately $1.20 per year, known as the Sky generation system. USDtb Payments aims to enable DeFi by funding participants, ultimately with support from the US government through BlackRock’s BUIDL Fund.
Spark is part of MakerDAO and was created by first user Rune Christensen’s “local” project. This project aims to improve system returns by pushing out semi-independent “child DAOs” similar to early enterprise projects. Since its self-propulsion, Spark City has provided approximately 2.32 years of inflow to the Sky generation system.
