
Flare Networks has launched SparkDexAI Eternal, the first decentralized exchange (DEX) on its platform, featuring up to 100x leverage and automated conditional orders. The DEX facilitates smooth transactions across 12 chains and is set to support major cryptocurrencies, commodities, and forex in the future. Meanwhile, SmarDex is preparing to launch $USDN, a new protocol that combines a leveraged Ethereum native perpetual with a Synthetic Dollar, utilizing Pyth Network feeds for real-time pricing. SmarDex has successfully attracted $4.5 million in a public seed round to support this initiative. Additionally, the first integrations of $USDS are being rolled out on Base, with Silo Finance working on linking USDS to sUSDS to create new lending markets. This development is backed by Sparkdotfi's recent deployment of $100 million in liquidity to Base, enhancing the ecosystem's financial capabilities. The Spark Liquidity Layer aims to optimize yield across protocols and chains, leveraging USDS's substantial balance sheet of $5.2 billion, with phase 1 already live on Base and further protocol support expected soon.
This strategy of automatically optimizing yield cross-protocol and cross-chain is the Spark Liquidity Layer. Spark can tap into USDS's 5.2b balance sheet to do this at a large scale. Already phase 1 is live on Base and we will be adding major protocol support in a few weeks. https://t.co/1klwdMDBW3
SMARDEX Attracts $4.5 Million in Public Seed Round for Revolutionary Synthetic US Dollar https://t.co/YGnKRJlkJR
First $USDS integrations are arriving on @Base. @SiloFinance is preparing to integrate USDS <> sUSDS hooks to enable new lending markets, powered by @sparkdotfi's recent deployment of $100 million in liquidity to Base. https://t.co/xisin03uvs