Spark Protocol, a DAI-focussed fork of Aave and MakerDAO\u2019s first subDAO, has surpassed $1B worth of total value locked.<\/p>\n
Spark\u2019s TVL briefly crossed $1B for the first time on Nov. 14, before firmly reclaiming the ten-figure threshold the next day. Spark currently boasts a TVL of $1.05B, ranking as the 16th-largest DeFi protocol, according to DeFi Llama.<\/p>\n
While Spark\u2019s TVL has enjoyed growth as digital asset prices rose amid the recent crypto rally, the protocol also received significant inflows this month. Spark took in $113.5M on Nov. 2 \u2014 its fourth-largest daily inflow on record \u2014 followed by the protocol\u2019s seventh-largest inflows of $65.8M on Nov. 14.<\/p>\n
Users also withdrew $30M from Spark on Nov. 13 and $35M on Nov. 16, rounding out the protocol\u2019s only significant outflows for November.<\/p>\n
<\/a><\/p>\n Spark\u2019s debt ceiling is currently at its maximum capacity of $400M. However, the limit will increase<\/a> by double to $800M this week.<\/p>\n Spark\u2019s growth has been propelled by increased yields<\/a> offered by the DAi Savings Rate (DSR) \u2014 which Spark users can access \u2014 in addition users hoping to qualify for a future Spark airdrop.<\/p>\n MakerDAO launched<\/a> Spark in May, comprising a major milestone in its Endgame<\/a> roadmap. Endgame called for the reorganization of MakerDAO into a series of specialized \u201csubDAOs\u201d with distinct operations and governance, with Spark comprising the project\u2019s first metaDAO deployment.<\/p>\n In August, Rune Christensen, the controversial<\/a> founder of MakerDAO, proposed<\/a> a retroactive airdrop distributing a native Spark token to early users. The rate of token issuance would fall every two years, incentivizing users to engage with the protocol during its first two years of operation.<\/p>\n However, no further progress has been made on the proposal.<\/p>\n The MakerDAO community recently passed<\/a> a suite of proposals including Spark\u2019s first revenue-sharing payment to Aave. Spark said it would share 10%<\/a> of revenues with Aave for two years in exchange for Spark forking the code for Aave v3. The first payment distributed 2,889 DAI to an address controlled by Aave governance.<\/p>\n![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F223583dc69981090f609af299be6dbbb3189fb50-914x317.png&w=828&q=75\")