MakerDAO: Launching the first SubDAO Spark

ChainCatcher news, MakerDAO announced on social media the upcoming launch of its first SubDAO, Spark. Spark will be part of MakerDAO's Endgame roadmap and will also release its native token SPK along with various SPK token farming programs.

It is reported that Spark's main products include SparkLend and Cash & Savings, specifically: SparkLend enables users to borrow DAI at scale using highly liquid assets and provides a top-notch user experience; Spark Cash & Savings introduces a decentralized, on-chain bank-like product that links the functionalities of cash and savings accounts with the Dai Savings Rate (DSR), accessible via DAI, USDT, and USDC.

Moreover, once SparkDAO is launched, SPK tokens can be mined through liquidity mining, and SPK token holders will have the opportunity to immediately mine NewGovToken (NGT), a feature that allows users to participate in the governance of the MakerDAO ecosystem by acquiring NewGovToken. SparkDAO advocates a community-driven governance model supported by SPK token voting. Over time, the goal of Spark governance is to achieve complete autonomy in managing all aspects of Spark and to seamlessly integrate into Maker SubDAO.