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About Spark
Spark is a lending protocol built by Phoenix Labs as part of the MakerDAO ecosystem. It offers borrowing against various collaterals with native DAI integration and the Dai Savings Rate (DSR).
Spark uses an Aave V3 fork as its base but is deeply integrated with Maker. Users can access DAI at the Maker stability fee rates, often more competitive than market rates. The sDAI savings product offers yield from Maker's DSR.
As MakerDAO evolves into Sky, Spark continues as a key lending venue. It supports major collaterals like ETH, stETH, and various LSTs, with SubDAO governance.
Key Features
Native DAI Integration
Borrow DAI at Maker stability fee rates
sDAI Savings
Earn DSR yield on DAI deposits
LST Collateral
Use stETH, rETH, and other LSTs
Competitive Rates
Maker-subsidized borrowing rates
Aave V3 Base
Battle-tested lending mechanics
Maker Ecosystem
Part of the largest DeFi protocol
Use Cases
DAI Borrowing
Borrow DAI at competitive rates
DAI Savings
Deposit DAI, receive sDAI with yield
Leveraged Staking
Loop LSTs for amplified yield
LST Lending
Lend or borrow against liquid staking tokens
Stablecoin Strategy
Optimize stablecoin yields
Project Info
Frequently Asked Questions
sDAI (Savings DAI) is DAI deposited in Spark's savings contract. It earns the DSR (Dai Savings Rate) set by MakerDAO governance. sDAI auto-compounds and can be used in DeFi while earning yield. Exchange rate to DAI increases over time.
Spark is built by Phoenix Labs, a SubDAO of MakerDAO. It's deeply integrated with Maker—DAI borrowing uses Maker vaults under the hood, and sDAI earns the DSR. Spark is a core part of Maker's strategy for DeFi lending.
Spark offers DAI at Maker stability fee rates, which can be lower than Aave market rates. If you specifically need DAI and have LST collateral, Spark rates are often better. Aave has more markets and features for other use cases.
Spark is built on Aave V3 code, which is extensively audited. It's governed by Spark SubDAO with MakerDAO oversight. The DSR backing sDAI comes from Maker, one of the oldest DeFi protocols. Standard smart contract risks apply.
Spark supports ETH, WETH, wstETH, rETH, sDAI, USDC, USDT, and other assets. LST collateral is a specialty—you can borrow against staked ETH derivatives efficiently. Check the Spark app for current supported assets and rates.