Sam MacPherson
@hexonaut
Co-founder / CEO @sparkfinance⚡️
Previously Protocol Engineering MakerDAO (@Skyecosystem)
974 Following 12.5K Followers
SparkLend TVL is approaching ATHs, up 35% in the last month alone.
This is when prices are still down. In ETH terms, the market has nearly tripled in size since April.
Expecting some explosive growth when the market returns.
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PSA: SPK buybacks restarted today with 1.75m USD going out over the next month in a TWAP.
There was a delay in settlement resulting in a few months' backlog of payments arriving last month. The governance-approved automated buyback algorithm will compensate by increasing the buyback rate.
We expect this to be a one-off, and future settlements will be on time every month.
Let’s burn! 🔥🔥🔥
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Did you know? Up until now, over 6000 users have used @SkyEcosystem via DeFi Saver:
And to celebrate the partnership that now spans over 7.5 years, here are some things you didn't know about Sky x DeFi Saver:
🛟 So far, over $100M worth of $USDS has been deposited into #sUSDS# through DFS;
🛟 During the transition, Maker users who had tokens earning DSR could directly migrate them to Sky Savings, within 1tx on DFS (the same goes for MKR token holders; they could redeem them for SKY in 1tx);
🛟Around $79M of $MKR have redeemed for $SKY through DFS;
🛟At the current Sky Savings Rate of 3.52%, it's one of the few on-chain savings options that has delivered resilient, governance-managed yield over the years.
Here's to another 8 years of building 🤝
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Excited for this one!
NEW: CEO of @sparkfinance to speak at DAS Asia
Hear from @hexonaut in Singapore this Oct 7th
Update: Deposit USDT into Spark Savings and earn 3%.
The rate has moved back up to a level it last held in May. Around ~$350M in USDT already sits at that rate.
Earn 3% APY now!
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How does @sparkfinance balance USDT yield, liquidity, and borrowing conditions through large redemptions?
Building on @MonetSupply’s public framework, I use onchain data to unpack a $633m spUSDT stress window—what happened to liquidity, rates, and P&L.
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"We have never really been chasing the newest thing ... just take the conservative view and compound the growth slowly overtime has been the winning strategy," @hexonaut on why Spark takes the conservative approach
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Stablecoins for payments combined with AI agents will be a huge growth driver.
3T by 2030
Introducing Cloudflare Wallets. They will allow you to store stablecoins, purchase services, and receive funds across the web.
Very thorough quarterly report from our friends at Blockworks!
The best of onchain finance gets built together.
@sparkfinance brings deep liquidity and specialist DeFi infrastructure. StandX brings native perps and, through SIP-5, permissionless markets, soon spanning a wide universe of trading pairs anyone can create.
As DUSD keeps expanding across new use cases, there's a lot more we can build with Spark ahead.
Composable by design. Stronger onchain markets ahead.
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For those curious, the litePSM hook has done over $600M in volume shortly after launch
~$550M on USDC/USDS
Pair with USDS on Uniswap to get access to deep liquidity with USDC, USDT and PYUSD!
Uniswap integrating the @SkyMoney PSM and facilitating $100M USDC<>USDS swaps with 0 slippage is so wild
Security at Arkis is getting harder to bypass. Today, we are launching an institutional governance board with @sparkfinance. Every Arkis' smart contract now requires the board's multisig approval before it can be deployed or upgraded. For the funds lending through Arkis, this reduces counterparty risk: the controls are enforced onchain and can be examined directly in due diligence.
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Spark supports Blockworks with transparency and standard accounting practises.
🤝
The Transparency Alliance grows to 70+ participants.
Making the Token Transparency Framework the benchmark for disclosure across token markets.
Tune in for a livestream with @haydenzadams and @hexonaut, where they’ll discuss the DualPool hook, Spark's $150M liquidity migration, and the stablecoin FX layer
Live today at 2PM ET 🦄
Interesting theory from Chamath that Stripe will go after visa/mastercard with acquisition of PayPal.
PayPal has over 400m consumer accounts and if Stripe gets e2e control, this could be huge for stablecoin adoption.
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🚨 POD UP! The Core Four is BACK
The Besties discuss:
-- Can the AI Industry Regulate Itself?
-- Stripe Bids $53B for PayPal w/ Block and Advent ($PYPL)
-- The Death of Tokenmaxxing?
-- Apple Sues OpenAI ($AAPL)
-- Grok Build Data Leak ($SPCX)
-- The Datacenter Psyop, NY's Ban
-- Science Corner: Aging Reversal Breakthrough?
(0:00) Bestie intros!
(1:32) New AI regulatory proposal: DeepMind's Demis Hassabis proposes FINRA-type body
(20:01) Stripe, Block, and Advent offer $53B to acquire PayPal
(37:51) Apple sues OpenAI, alleging stolen trade secrets
(42:49) Grok Build data leak, AI data privacy, Tokenmaxxing update, Mira Murati's new model
(59:53) NY bans datacenters, China catches up
(1:22:57) Science Corner: New data on reversing aging!
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