MakerDAO's Spark Protocol Going Multi-Chain

MakerDAO announced that its lending protocol, Spark Protocol, will be deployed on multiple blockchains and announced the steps to deploy Spark Protocol in a specific blockchain network.

1. The interested domain should create a post on the Maker Forum under the SubDAO TWO category (background information, technical information, collateral information, liquidity information, etc. are required).
2. After the proposal submission, Phoenix Labs will conduct a domain assessment and offer recommendations to MakerDAO about the new domain and collaterals to be included.
3. Block Analitica will perform a collateral assessment and suggest risk parameters for the collaterals within Spark in the new domain.
4. The domain and collateral assessments will be published on the Maker Forum.

In May, MakerDAO launched Spark Protocol, a new lending protocol. The Spark Protocol is an end-user, DAI-centered DeFi product that has been deployed on Ethereum and offers supply and borrow features for $ETH, stETH, $DAI, and sDAI. The first version of Spark Protocol, called Spark Lend, is a lending marketplace designed specifically for supplying and borrowing crypto with a focus on $DAI.

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