{"id":174847,"date":"2023-10-16T09:47:53","date_gmt":"2023-10-16T04:17:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=174847"},"modified":"2023-10-16T09:47:53","modified_gmt":"2023-10-16T04:17:53","slug":"spark-protocol-launches-on-gnosis-chain-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/spark-protocol-launches-on-gnosis-chain-crypto-news\/","title":{"rendered":"Spark Protocol Launches On Gnosis Chain – Crypto News"},"content":{"rendered":"

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Spark Protocol, MakerDAO\u2019s first subDAO and a DAI-focussed fork of Aave v3, is now live on Gnosis Chain.<\/p>\n

The launch marks Spark\u2019s first deployment beyond the Ethereum mainnet. Gnosis Chain<\/a> is an Ethereum sidechain supporting Ethereum Virtual Machine (EVM) execution that offers low-cost transactions akin to a Layer 2 network.<\/p>\n

\u201cThe first functioning DeFi product developed by a SubDAO has gone multi-chain,\u201d Maker tweeted<\/a> in celebration of the launch. However, the tweet attracted criticism from the Aave community.<\/p>\n

\u201cThis is incorrect, Aave team has built the Aave Protocol that MakerDAO forked and calls now SparkLend,\u201d replied<\/a> Stani Kulechov, the founder of Aave. \u201cCredit should go where credit belongs.\u201d<\/p>\n

Spark went live<\/a> in May. The protocol allows users to earn interest on DAI deposits via the DAI Savings Rate and also facilitates decentralized borrowing using DAI as collateral.<\/p>\n

In July, the MakerDAO community voted in support of deploying the protocol across multiple different networks. Matter Labs, the team behind the ZkSync Era Layer 2, proposed<\/a> to host a Spark deployment last month.<\/p>\n

Spark currently ranks as the 21st largest DeFi protocol with a total value locked of $465.4M, according to DeFi Llama.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spark Protocol, MakerDAO\u2019s first subDAO and a DAI-focussed fork of Aave v3, is now live on Gnosis Chain. The launch marks Spark\u2019s first deployment beyond the Ethereum mainnet. Gnosis Chain is an Ethereum sidechain supporting Ethereum Virtual Machine (EVM) execution that offers low-cost transactions akin to a Layer 2 network. \u201cThe first functioning DeFi product […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-174847","post","type-post","status-publish","format-standard","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174847"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174847\/revisions"}],"predecessor-version":[{"id":174853,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174847\/revisions\/174853"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}