Spark emerges as the pioneer among Maker SubDAOs, shaping the future of MakerDAOβs Endgame roadmap.
It fosters a dedicated and independent community that leverages the power of MakerDAO to develop innovative DeFi products that address proven market demands.
The highly anticipated Launch Season reaches its peak with the arrival of SparkDAO, along with its native token SPK and a variety of SPK token farming programs
Learn more about what SparkDAO has to offer. β
Spark App: The Powerhouse of DeFi
Spark's main offerings include SparkLend and Cash & Savings, available on .
β’ SparkLend enables users to borrow DAI at large scales using high-liquidity assets, with a best-in-class user experience.
β’ Spark Cash & Savings introduces a decentralized, on-chain banking-like product that connects cash and savings accountsβ features with the Dai Savings Rate (DSR). It is accessible with DAI, USDT, and USDC.app.spark.fi
SPK Tokenomics: Pre-farming the airdrop
SparkLend users can participate in pre-farming activities on to start earning SPK tokens in advance.
The current SPK pre-farming program will be active until May 20th, 2024. Earned SPK tokens will be distributed at the Spark Launch.
Users of SparkLend can track their accrued SPK tokens at .
As the launch season approaches, MakerDAO is preparing to introduce two new tokens - NewStable and NewGovToken.
Explore the details below β
After the upcoming brand reveal, the new tokens will be introduced into the ecosystem.
NewStable (NST) is the codename for the upgraded version of Dai, tailored for broader adoption and designed with enhanced stability features. The official name will be unveiled through the brand reveal.
NewGovToken (NGT) represents a refined approach to governance within our ecosystem. Itβs designed to encourage wider participation and more dynamic decision-making. The final name will also be shared through the brand reveal.
The conversion process for token holders is straightforward:
β’ For NewStable (NST): Dai holders can seamlessly upgrade to NewStable, enjoying the flexibility to revert back to Dai as desired.
β’ For NewGovToken (NGT): Each Maker token (MKR) can be converted into 24,000 NGT. This redenomination aims to encourage wider participation in governance activities.
These additions represent an expansion and will not replace the existing Dai (DAI) and Maker (MKR) tokens. Users will have the option to transition to NewStable and NewGovToken.
Now, letβs talk about key functionalities:
NewStable
β’ NewStable will be accessible to both new users and existing Dai holders. Existing users can upgrade their Dai, with the flexibility to convert their holdings back to Dai whenever they choose.
β’ NST holders can engage in farming to earn NGT right from launch.
β’ 600 million NGT will be distributed annually to participating NST holders through farming.
β’ Farming will not be available to US residents or users employing VPNs.
β’ The official name of NST will be unveiled through the new brand reveal.
The Spark team loved working with such brilliant minds who created amazing projects on Maker, Spark, and sDAI.
Among all the great participants, we've awarded our prizes totaling 12,000 DAI to the selected projects:
β
π₯ Claiming the top spot for the best use of Conduits:
DustConduit β 2,000 DAI
Implemented the IAllocatorConduit to mediate between SubDAOs and external protocols, thus facilitating the standardized flow of DAI between SubDAOs and yield opportunities.
π₯ Taking second place for the best use of Conduits:
RWA Yield β 1,000 DAI
Leverages the MakerDAO ecosystem to allow loans against tokenized assets. Users pledge RWAs, and receive DAI loans through an automated dividend-paying protocol.
sDAI (Savings DAI) is the new tokenized version of DSR-enabled DAI.
Fully powered by the DSR, it is an ERC-4626 token that offers enhanced integrations and gas efficiency for a better user experience.
How does it work? β
Recently the DSR went from 1% to 3.49%, enabling a higher yield natively streamed to all DAI holders that opt in.
sDAI implements a tokenized EIP-4626 compliant wrapper for DAI deposited into the DSR, converting the DSR-deposited position into a token you can hold and use.
The sDAI token allows users to interact with the DSR through the following methods:
β’ Deposit DAI into the DSR by calling SavingsDAI's mint method.
β’ Withdraw DAI from the DSR by calling SavingsDAI's burn method.