MakerDAO – the decentralized governing body behind long-standing Maker Protocol, which powers the original decentralized stablecoin, DAI – today announced the launch of Spark Protocol as the first to integrate Chainlink Price Feeds in MakerDAO’s ecosystem.
Spark Protocol is the infrastructure supporting Spark Lend, a DAI-focused decentralized marketplace for crypto assets. Spark Protocol’s integration of Chainlink’s DAI/USD, ETH/USD, and stETH/USD price feeds follows MakerDAO’s integration of Chainlink Keepers to help ensure DAI’s stability earlier this year.
Sam MacPherson, CEO of Phoenix Labs (a contributor to Spark Protocol) said Chainlink played a fundamental role in Spark Protocol’s launch.
“The integration of Chainlink Price Feeds was essential to bringing Spark Protocol online in a timely manner,” he said. “We feel there is mutual benefit in continuing to build a relationship with Chainlink.”
Chainlink is the DeFi industry’s leading decentralized oracle network, having enabled more than $7 trillion in transaction value throughout the decentralized economy. Integrating Chainlink’s industry-standard oracle infrastructure allows Spark Protocol to expedite development and fortify Spark Lend with the high-quality data needed to reliably price collateral value.
Johann Eid, VP of Go-To-Market at Chainlink Labs, said the “ongoing collaboration” between Chainlink and MakerDAO is a “huge win” for DeFi and the larger crypto economy.
“Both Chainlink and Maker are pioneers in this space, and the work being done across both ecosystems will help to ensure the continued success of not only DeFi, but the broader industry as well.”
To learn more about Spark Protocol, visit their website, Twitter, Discord, and GitHub.
To learn more about MakerDAO, visit their website, Twitter, Telegram, and GitHub.