Spark Integrates LI.FI To Enable Seamless Zaps
TL;DR – Users can now zap stablecoins directly into sDAI
We’re excited to announce that Spark, a community project driven by Spark SubDAO’s members and powered by MakerDAO, has integrated LI.FI! The integration enables users to seamlessly zap USDT and USDC directly into the yield-bearing sDAI without leaving Spark’s platform.
Savings Dai (sDAI) is a tokenized representation of Dai deposited into the Dai Savings Rate (DSR) offered by MakerDAO. sDAI allows users to receive returns on their DSR deposits while still being able to use it across DeFi.
Spark leverages LI.FI’s xChain Zap feature to enable effortless deposits in a single transaction. xChain Zaps extends the features of destination swaps to also allow contract calls of any kind to be passed through bridges for execution on the destination chain, empowering users with a wider range of actions post-bridge. Learn more about xChain Zaps here.
We’re thrilled to support Spark on their mission to empower the DAI ecosystem. Try out Spark here.
What Is Spark?
Spark is a community project driven by SparkDAO members, a SubDAO within the MakerDAO ecosystem. Their two main products, SparkLend and Spark Cash & Savings, combine the best liquidity directly from Maker and vertically integrate with the best DeFi protocols. Currently, SparkLend is a fork of the battle-tested Aave v3 contracts.
Spark offers two main products:
SparkLend: A superior platform for borrowing DAI against your high-liquidity assets at scale
Spark Cash & Savings: A decentralized on-chain product that combines the daily use cases of cash and savings accounts with the power of the Dai Savings Rate (DSR).
To learn more about Spark check out their,
FAQ: Spark Integrates LI.FI To Enable Seamless Zaps
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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.