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Sky and Spark protocol deployed $25 million to the Maple Finance lending pool, and plan to double the allocation.
According to The Block, decentralized lending protocol Maple Finance has received a $25 million allocation of funds from the Sky ecosystem, aiming to continue to expand into the real-world asset space. The funding comes from stablecoins and lending protocol Sky (formerly MakerDAO) and Spark sub-DAO. The two sides plan to increase the deployment amount, possibly as much as $50 million. The protocol will initially allocate $25 million and gradually scale up by investing an additional $5 million per day into Maple's lending marketplace, the syrupUSDC pool. Maple noted the allocation of funds from Sky and Spark will increase loanbook activity and support agreement revenues through repo.