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MakerDAO Community Proposes Spark Protocol, Details Inside

Dai [DAI] is among the front-runners in the stable cryptocurrency market. By market capitalization, CoinMarketCap places it as the fourth-largest stablecoin and the seventeenth-largest cryptocurrency overall.

Some members of the MakerDAO community submitted a proposal to the Maker governance forum on 8 February. Content analysis revealed that they are suggesting the introduction of a new protocol that the DAO will administer.

In their proposal, they suggested a new protocol called Spark that would facilitate the lending and borrowing of Dai (DAI) through a liquidity market.

It is proposed that Spark implement Aave v3’s smart contract framework, with 10% of the protocol’s proceeds from the market over the following two years being donated to the Aave DAO.

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