MakerDAO recently disclosed its plan to expand its lending service, Spark Protocol, across various blockchain networks, detailing the necessary steps for implementing the Spark Protocol within a specific blockchain network.

Entities interested in integrating the protocol must first initiate a post on the Maker Forum, submitting it under the SubDAO TWO category. This post should provide a comprehensive overview, including background and technical information, details about the collateral, liquidity information, and other pertinent details.

Post submission, Phoenix Labs steps in to conduct a detailed analysis of the proposed domain, delivering its recommendations regarding the new domain and collaterals to MakerDAO.

Further, Block Analitica will perform an evaluation of the collateral, proposing risk parameters for collaterals associated with Spark within the new domain.

The results of the domain and collateral evaluations will be published on the Maker Forum for transparency and further discussion.

Back in May, MakerDAO introduced Spark Protocol, a pioneering lending protocol focused on the end-user and DAI-centric DeFi products. Initially launched on Ethereum, it supports supply and borrow functionalities for $ETH, stETH, $DAI, and sDAI. The inaugural version of Spark Protocol, named Spark Lend, is designed to be a lending marketplace, with a primary focus on supplying and borrowing crypto, particularly $DAI.

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