Decentralized finance (DeFi) stablecoin platform MakerDAO has proposed Spark Protocol. The new system is based on the Aave lending protocol’s smart contracts.

Leading MakerDAO community participants have proposed creating a liquidity market called Spark Protocol for lending and borrowing crypto assets focused on DAI, Maker’s $5 billion stablecoin, according to a proposal posted on Wednesday in Maker’s governance forum.

Leading MakerDAO community participants have proposed creating a new liquidity market called Spark Protocol for lending and borrowing crypto assets focused on DAI, Maker’s $5 billion stablecoin, according to a proposal posted on Wednesday in Maker’s governance forum.

The year 2022 turned out to be not at all in favor of MakerDAO. It painted quite a solemn picture for the second-in-line DeFi protocol. It happened to have witnessed a full 79% downfall in terms of operating earnings. Even its top-rung revenues saw a downward slide to the extent of 42%. However, despite all of that and the fact that the crypto’s dismal happening that took place in the same year, it somehow was able to rise to the occasion and make some additional profits for itself. The factor also helped that the entity had adopted real-time assets, which pushed things upwards.

Lido Finance’s [LDO] tweet on 6 February highlighted the impressive growth of MakerDAO [MKR] and Aave’s [AAVE] lending pools on its protocol. Over the last week, MakerDAO’s steCRV experienced a surge of 636%, while Aave’s Wrapped stETH [wstETH] increased by 140%.

Cryptocurrency advocates have been discussing a proposal by the founder of Makerdao, Rune Christensen, to fund a Scientific Sustainability Fund. An idea that aims to combat climate change and misinformation about energy solutions. Christensen is asking for 20,000 MKR tokens to move forward with the idea. The draft of the Maker Constitution was criticized on social media, with one person comparing Christensen’s idea to the Effective Altruism movement, which is backed by the controversial FTX co-founder Sam Bankman-Fried.

Recent on-chain observations from DappRadar and cryptoslam. io reveal positive uptrends in DeFi and NFT sales for the month of January. Over $997 million was recorded in total sales over the 31-day period representing a 41% uptick from December figures.

MakerDAO, through its Governance Facilitator(s) and Starknet Engineering and Protocol Engineering Core Units, has proposed to redeploy its Teleport Layer 2 (L2) Gateways as part of several changes to be implemented to the DeFi protocol.

Multiple DeFi protocols including MakerDAO, SushiSwap, and Balancer simultaneously posted pictures of “fist bump” with different background colors on their official Twitter accounts on Saturday. The decentralized finance platforms hint at an upcoming huge announcement related to the DeFi market on Monday, February 6.

An early draft of MakerDAO's proposed governance constitution would have the DAI stablecoin issuer join the fight against climate change with 20,000 MKR tokens (around $14 million) to fund sustainability campaigns through 2040.