Written by: 1912212.eth, Foresight News
On June 17, exchanges such as Binance, OKX, Bybit, Bitget, and Bithumb announced the launch of Spark (SPK) spot trading. In the current tight market liquidity, projects quickly listed on major exchanges are rare. So what exactly is the Spark project that the market is discussing?
On-chain Liquidity Protocol
Spark is the liquidity and yield infrastructure layer for on-chain finance. Since the birth of DeFi, the crypto market has faced challenging structural problems: highly dispersed liquidity and unstable yields. Although DeFi has been developing for years, this issue remains unresolved. Spark is equivalent to an on-chain asset allocator. In the ecosystem, it borrows from Sky's stablecoin reserve worth over $6.5 billion and deploys capital into DeFi, CeFi, and RWA. Spark provides stable liquidity to the market while achieving large-scale risk-adjusted returns.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and technical terminology.]Snapshot Date: UTC Time March 15, 2025 23:59:59
Eligible Chains: mainnet, Arbitrum, Base, Polygon
Other DeFi
Pendle PT, YT, or LP Positions
On the snapshot date, in the top three markets ranked by Total Value Locked (TVL), holding a cumulative total of at least $5,000 in Pendle PT, YT, or LP
Snapshot Date: UTC Time March 15, 2025 23:59:59
Eligible Chains: mainnet
Ethena Positions
Holding at least $5,000 in Ethena sUSDe or USDe
Snapshot Date: UTC Time March 15, 2025 23:59:59
Eligible Chains: mainnet
Curve 3pool LP
Providing liquidity of at least $5,000 as a Curve 3pool Liquidity Provider (LP)
Snapshot Date: UTC Time March 15, 2025 23:59:59
Eligible Chains: mainnet
Pendle vePENDLE
Holding at least $5,000 in Pendle vePENDLE
Snapshot Date: UTC Time March 15, 2025 23:59:59
Eligible Chains: mainnet
Backed by Sky (formerly MarkerDAO) ecosystem's billions of dollars in asset reserves, Spark shows promising potential in terms of capital efficiency and liquidity.
