{"id":78478,"date":"2023-05-09T12:00:27","date_gmt":"2023-05-09T09:00:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78478"},"modified":"2025-09-11T05:16:27","modified_gmt":"2025-09-11T02:16:27","slug":"makerdao-launches-rival-to-aaves-lending-defi-project","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/makerdao-launches-rival-to-aaves-lending-defi-project\/","title":{"rendered":"MakerDAO launches rival to Aave\u2019s lending DeFi project."},"content":{"rendered":"<p>MakerDAO developers have launched Spark Protocol\u2014a liquidity market built on the DAI stablecoin and collateral assets backing the DeFi platform.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Announcing the Spark Protocol launch \u26a1\ufe0f<\/p>\n<p>Starting May 9, 2023, Spark Protocol will be available to all DeFi users.<\/p>\n<p>An end-user, DAI-centered DeFi product deployed on Ethereum with supply and borrow features for ETH, stETH, DAI, and sDAI. <a href=\"https:\/\/t.co\/oLa8oeBmL1\">pic.twitter.com\/oLa8oeBmL1<\/a><\/p>\n<p>\u2014 Maker (@MakerDAO) <a href=\"https:\/\/twitter.com\/MakerDAO\/status\/1655575088547127311?ref_src=twsrc%5Etfw\">May 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Spark Protocol is intended to become Maker&#8217;s first native lending interface. The DeFi platform could gain an additional revenue stream by lending to its users under a strategy for using reserve assets.<\/p>\n<p>Spark Protocol operates independently of MakerDAO.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The first version of Spark Protocol, Spark Lend, is a lending market [\u2026] with a focus on DAI&#8221;<\/em>, \u2014 the developers said<\/p>\n<\/blockquote>\n<p>The functionality of the solution is based on<a href=\"https:\/\/forklog.com\/en\/news\/aave-unveils-the-third-version-of-its-defi-protocol\"> the third version<\/a> of the Aave project&#8217;s smart-contracts system<a href=\"https:\/\/forklog.com\/en\/news\/what-is-aave\"> Aave<\/a>.<\/p>\n<p>Aave launched the third version of the protocol on January 27, 2023. According to the platform&#8217;s founder Stani Kulechov, it <a href=\"https:\/\/twitter.com\/AaveAave\/status\/1618903037761945601\">has received<\/a> a host of new risk-reduction features, as well as improved capital efficiency and decentralized liquidity while lowering gas costs.<\/p>\n<p>Initially, users will be able to borrow DAI at an annual rate of 1.11%.<\/p>\n<p>The SL markets:<\/p>\n<ul class=\"wp-block-list\">\n<li>DAI;<\/li>\n<li>ETH;<\/li>\n<li>wstETH from Lido;<\/li>\n<li>WBTC;<\/li>\n<li>Savings DAI (DSR-locked DAI).<\/li>\n<\/ul>\n<p>Spark Lend&#8217;s interest rates are set by community members via governance votes. This differentiates the project from competitors, where rates are determined by supply and demand.<\/p>\n<p>The protocol is integrated with the MakerDAO&#8217;s <span data-descr=\"Peg Stability Module\" class=\"old_tooltip\">PSM<\/span>. This will allow the instant conversion of DAI and sDAI into USDC at a 1:1 ratio.<\/p>\n<p>In the future, within Spark Protocol<a href=\"https:\/\/forklog.com\/en\/news\/makerdao-members-propose-launching-a-competitor-to-aave\"> is expected<\/a> to include<a href=\"https:\/\/forklog.com\/en\/news\/yield-farming-theory-and-practice\"> farming products<\/a> with fixed terms and a native synthetic derivative <a href=\"https:\/\/forklog.com\/en\/news\/what-is-liquid-staking\"> of liquid staking<\/a> called EtherDAI.<\/p>\n<p>The next steps on the 2023 roadmap involve adding manipulation-resistant oracles, fixed rates \u2014 Spark Fixed Rates, support for<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\"> L2 solutions<\/a> and<a href=\"https:\/\/forklog.com\/en\/news\/sidechains-what-they-are-and-how-they-work\"> sidechains<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MakerDAO developers launched Spark Protocol\u2014a liquidity market built on the DAI stablecoin and collateral assets backing the DeFi platform.<\/p>\n","protected":false},"author":1,"featured_media":78479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1212,1099,1093,1100],"class_list":["post-78478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aave","tag-dai","tag-defi","tag-makerdao"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78478"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78478\/revisions"}],"predecessor-version":[{"id":78480,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78478\/revisions\/78480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78479"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}