The total value locked (TVL) in the Ethereum sidechain Gnosis Chain has doubled since early October, increasing from $75 million to approximately $150 million, while transactions and fees on the network have also surged. Data shows that this surge was driven by the transfer of $50 million stablecoins to Gnosis Chain. These funds are being used to increase savings rates through MakerDAO's Spark lending protocol, which currently offers a rate of over 7%. By bridging to Gnosis Chain, more and more users are converting their xDAI to Savings xDAI, generating interest from all sDAI held on the mainnet bridge.
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