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
Data: Multiple tokens experience a surge followed by a pullback, EGLD hits a new weekly low
Analysis: Ethereum has held its support level, Bitcoin is expected to rebound to $100,000
An Ethereum OG address deposited 18,000 $ETH worth $54.78 million to an exchange.
Circle mints 1 billion USDC on Solana network within 24 hours
Trending news
MoreCrypto prices
More
