Spark to Provide Up to 1.6 Trillion KRW in Stablecoin Liquidity to the Etena Ecosystem
Summary
- Spark announced that it will supply up to $1.1 billion in stablecoin liquidity to the Etena ecosystem.
- Spark's SLL integration is expected to distribute liquidity across DeFi platforms while providing new revenue generation opportunities.
- Spark reported that it supplies stablecoin liquidity to other major DeFi platforms besides Etena.
Sky (formerly MakerDAO) ecosystem liquidity marketplace Spark announced on the 15th that it will integrate Etena's native stablecoins USDe and sUSDe into the 'Spark Liquidity Layer' (SLL).
SLL plans to allocate stablecoins directly to Etena to expand stablecoin liquidity across DeFi. This process will supply up to $1.1 billion (approximately 1.6 trillion KRW) in stablecoin liquidity to the Etena ecosystem.
Spark expects this integration of USDe and sUSDe into the SLL to be a crucial step in maximizing the profitability of the Spark ecosystem. Sam MacPherson, CEO of Spark development team Phoenix Labs, stated, "This integration will efficiently distribute liquidity across DeFi platforms, creating new yield generation opportunities for Spark."
Meanwhile, Spark is currently providing stablecoin liquidity to other DeFi platforms such as Aave, Morpho, and Base, in addition to Etena.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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