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🧵 Many people don't know that in fact, there is a hidden boss behind @sparkdotfi @phoenixlabsdev It is not only the development team of #SparkFi, but also the technical core of @MakerDAO, and the $SPK airdrop, stable APY, and TVL skyrocketing that you are familiar with have its shadow The Twitter Premium page crashed, and Blue V expired and could only write thread today 👇 @cookiedotfuncn @cookiedotfun #CookieSNAP #Pendle
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1⃣ What is Phoenix Labs? It was formed by the former MakerDAO core developers, the core development team of SparkFi (Spark Protocol), and one of the most underrated DeFi Infra builders at the moment.
2⃣ SparkFi Launches (August 2023) Phoenix led the development of SparkFi, a DAI lending platform based on the Aave v3 + Maker module, supporting @MakerDAO's D3M and PSM, with a focus on on-chain fund scheduling.
3⃣ Linked with Maple Finance SparkFi has invested 50 million USDC in Maple to build a syrupUSDC vault, allowing you to earn stable interest and earn low-risk benefits. Behind this is Phoenix's allocation of funds to ensure that it is safe and controllable. In addition, it also launched a $6 million incentive plan with RedStone, and you will have the opportunity to share rewards by participating in the interaction, and the income + airdrop will be all in one go!
4⃣ Latest data (as of June) 🔹 The total amount locked It is currently around $6.7B, covering multiple chains such as #Ethereum, #Base, #Arbitrum, #Optimism, etc More than double the TVL in May, with a monthly increase of 114% 🔹 Annualized income The current agreement has an annualised revenue of about $355M, a surge of nearly 10x from the beginning of the year 🔹 Liquid assets have been deployed SLL has deployed over $2.6B to protocols such as Aave, Morpho, Ethena, Pendle, RWA, and more
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