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Sky Launches USDS on Solana, Enhancing DeFi Liquidity Management
Solana Integration Boosts Interoperability and Liquidity
Sky, formerly known as MakerDAO, has introduced its stablecoin USDS on the Solana network, marking a significant milestone in DeFi. The move increases liquidity and strengthens Sky’s position in the market.
Short-Term Liquidity Incentives and Spark Liquidity Layer
To drive adoption, Sky has launched a liquidity incentive program offering rewards to DeFi integrators and liquidity providers on Solana. This initiative aims to enhance the use and stability of USDS within the ecosystem.
The Spark Liquidity Layer automates multi-chain USDS liquidity management, enabling seamless cross-chain swaps with zero slippage and stable borrowing rates. This innovation redefines the functionality of multi-chain stablecoins in DeFi.
SparkLend and Commitment to Lending Capability
SparkLend offers competitive USDS borrowing rates at 6.5%, with customizable collateral options and loan-to-value ratios. Additionally, Spark has committed $25 million in liquidity to the Aave market on Lido, with plans to increase this amount to $100 million, supporting lending capability for various DeFi projects.
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