Decentralized lending protocol Maple Finance has received a $25 million allocation from the Sky ecosystem as it looks to continue expanding deeper into the real-world asset space. The capital comes from the Sky stablecoin and lending protocol (formerly known as MakerDAO) and Spark subDAO.
“This capital allocation establishes a direct link between the Sky Savings Rate and Maple’s real-world yield engine, enabling USDS stakers in the Sky ecosystem to access differentiated, institutional-grade returns,” Sky wrote in a statement. “It also marks one of the largest protocol-to-protocol deployments of capital into on-chain credit infrastructure to date.”
There are plans to increase the amount deployed, potentially up to $50 million. The protocols will begin with a $25 million allocation and scale up by contributing an additional $5 million per day in Maple’s syrupUSDC pool.
“This progressive rollout is designed to optimize capital efficiency and lending opportunities across the Maple ecosystem,” Sky writes.
The syrupUSDC pool is an overcollateralized lending market for institutional borrowers. On Pendle, for instance, liquidity providers in this pool can earn upwards of 13% APY. Sky and Spark’s allocation will increase loanbook activity and support protocol revenue through buybacks, Maple noted.
This latest allocation represents Sky’s deepening commitments to diversifying its exposure to DeFi and the RWA space. Last month, Spark announced the three winners of its $1 billion Tokenization Grand Prix, designed to accelerate the adoption of tokenized assets on the Spark Liquidity Layer.
The Spark Liquidity Layer automates liquidity provision of the ecosystem’s assets, including USDS, sUSDS and USDC, directly from Sky across various DeFi protocols, enabling users to access the Sky Savings Rate more readily.
Maple, too, has continued to advance its yield-bearing strategies, including by launching its “first of a kind” Lend + Long onchain structured product that uses yield from the “Maple High Yield Secured Pool” to purchase BTC call options.
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