Maker

Phoenix Labs has proposed raising the wstETH Supply Cap in SparkLend from 800k to 1.2 million wstETH due to a recent surge in deposits. This adjustment aims to accommodate the increased demand for using wstETH on SparkLend. The proposal will be subject to a Governance Poll by MakerDAO in the upcoming days.

Maker Governance has approved parameter changes for SparkLend's D3M, including increasing the Maximum Debt Ceiling, Target Available Debt, Ceiling Increase Cooldown, and buffer. These changes will go through a final Executive Vote before implementation. For more details, visit the Maker Governance portal.

SparkLend, a project in the Maker community, has achieved a milestone of $3 billion in total value locked.

Maker Governance is voting on proposed parameter changes by @phoenixlabsdev for SparkLend's D3M. These changes aim to increase key parameters, raise the credit line to SparkLend, and enable borrowing at larger scales.

In the past week, the total supply for Spark on Mainnet surpassed $3.5 billion, borrowings decreased to around $1.18 billion, and available liquidity stands at approximately $2.46 billion. The WBTC Supply Cap is nearly at 100%. For Gnosis Chain, the total supply is above $40 million, borrowings are around $5.78 million, and available liquidity is at approximately $36.86 million.

Spark has surpassed T-Bill deployments, stETH, and ETH core vaults to become the most profitable core lending vault in the Maker Protocol, earning the highest annualized fees.

The Maker community has announced the final RETH-A offboarding deployment, which will liquidate all RETH-A positions with a collateralization ratio below 10,000%. Users are advised to pay off their entire DAI debt and close their RETH-A vaults to avoid liquidation. Users can migrate to Spark to continue leveraging their exposure to DAI debt with rETH as collateral.

Maker Governance has passed the latest Executive Vote, implementing several modifications to the Maker Protocol. The stability fees for various collateral types will increase, the debt ceiling for PSM-PAX-A will be set to 0 DAI, offboarding parameters for RETH-A will be finalized, the Smart Burn Engine parameters will be changed, and the approval for the HV Bank vault resolution will be granted. Additional actions include AVC member compensation and the execution of the SparkLend Proxy Spell with several updates to WBTC supply cap, IRMs, and borrow APY.

The second annual State of DeFi survey is inviting users to provide feedback and help create a detailed public report that informs stakeholders about the dynamic DeFi landscape.

DAI users on Starknet are urged to transfer or migrate their DAI before the Regenesis network upgrade. Two options are available: transferring DAI to Ethereum Layer 1 or using a migration tool operated by @layerswap. No funds are at risk. Beware of scams and use official decentralized application front-ends for secure transfers. For more information, visit the official Maker Forum post.