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Spark Protocol, a fresh DeFi lending solution tailored for DAI users, has been unveiled by MakerDAO.

Max "The Mako" by Max "The Mako"
May 9, 2023
in News, Bitcoin
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Spark Protocol, a fresh DeFi lending solution tailored for DAI users, has been unveiled by MakerDAO.
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MakerDAO has unveiled the Spark Protocol, a DeFi lending solution that focuses on DAI users. The protocol’s first iteration functions as a lending marketplace that enables supply and borrowing for cryptocurrencies like ETH, stETH, DAI, and sDAI. It aims to provide DAI users with competitive interest rates and is linked to Maker’s Direct Deposit Dai Module (D3M), which seeks to facilitate borrowing at better rates.

The Spark Protocol’s launch aims to enhance MakerDAO’s DAI lending capabilities, increase liquidity, offer improved rates and yield-bearing versions of DAI, and provide more liquidity options. MakerDAO recently proposed a “constitution” to formalize governance processes and protect against threats from malicious actors.

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The constitution uses “alignment engineering” to solidify the core commitments of the Maker community, ensuring the security and stability of the Maker Protocol and protecting user funds from potential losses due to human or institutional decisions.

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