Spark Protocol will allocate 1.1 billion dollars in funds to Ethena's USDe and sUSDe tokens
The Sky ecosystem's lending sub-DAO, Spark Protocol, plans to allocate its $1.1 billion in liquidity layer balance sheet assets to Ethena's USDe and sUSDe tokens to improve capital efficiency.
USDe is an algorithmic stablecoin launched in 2024 and is currently the fourth largest stablecoin by market value, attracting attention because its holders can earn returns.
The Spark team expects that under favorable market conditions, this allocation can achieve an annualized return rate of about 27%, thereby driving the growth of Sky ecosystem revenue and increasing the returns for USDS depositors.
Spark's liquidity layer manages $6.2 billion in stablecoin liquidity, supporting users to convert between USDC and Sky's USDS or sUSDS tokens across multiple networks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A HYPE whale transferred 266,600 tokens worth approximately $24.29 million to exchanges within three days.
Former senior official of the Bank of Japan predicts that a rate hike in October is "a real possibility," with a very low probability of postponement until next year
A former executive director in charge of monetary policy at the Bank of Japan stated that the Bank of Japan may raise its benchmark interest rate for the second consecutive month at the October policy meeting, which would be earlier than most economists expect.
Falling Oil Could Trigger a 10% Stock Market Rally, Says Wall Street Strategist
Bitcoin falls below $84,000, down 0.32% in 24 hours.
Crypto prices
More
