1. SparkLend
SparkLend is a decentralized stablecoin lending protocol that benefits from direct liquidity provided by Sky. Sky, formerly known as MakerDAO, is a protocol that issues USDS, a stablecoin pegged to the US dollar and updated from DAI. SparkLend lets users borrow USDS with clear, stable interest rates that don’t change based on loan size or usage.
The platform is non-custodial, where lenders earn passive income by providing liquidity, and borrowers take over-collateralized loans. Users can also earn yields by holding sUSDS, a yield-bearing version of USDS that grows the Sky Savings Rate. To borrow, users must deposit collateral such as ETH or cbBTC, which can generate interest if lent out, or deposit assets to earn interest without borrowing.
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