MakerDAO Announces Launch Of SubDAO Spark, Introducing Native Token SPK

According to Odaily, MakerDAO has announced the imminent launch of its first SubDAO, Spark, on platform X. Spark forms part of MakerDAO's Endgame roadmap and will introduce its native token, SPK, along with various SPK token farming plans. Spark's primary products include SparkLend and Cash & Savings. SparkLend enables users to borrow DAI on a large scale using high liquidity assets, offering a top-tier user experience. Spark Cash & Savings, on the other hand, introduces a decentralized product similar to an on-chain bank, linking the functions of cash and savings accounts with the Dai Savings Rate (DSR). This product can be accessed through DAI, USDT, and USDC. Once SparkDAO is launched, SPK tokens can be mined through liquidity mining. SPK token holders will have the opportunity to mine NewGovToken (NGT) immediately. This feature 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 seamlessly integrate into the Maker SubDAO.