Aave Teams Up with Sky, Formerly Maker

Sky Aave Force is a new joint initiative between Sky (formerly MakerDAO) and Aave, aiming to further accelerate DeFi adoption.

What's the Scoop?

• Proposal Details: Sky Aave Force has proposed integrating the newly rebranded Sky USDS and sUSDS tokens (formerly DAI and sDAI) into Aave V3, with native token rewards and new market integrations.
• Incentives and Adoption: The proposal includes a 3.33MSPK monthly airdrop for sUSDS supplies on Aave V3 and a 100 million debt ceiling for USDS in the Aave Lido Market, aiming to boost adoption and drive liquidity.
• Revenue Split: Aave protocol teams have agreed to a 50/50 revenue split with Spark for the sUSDS and USDS markets, which is expected to be lucrative for both protocols.
• Launch Date: The integration is set to go live on Aave V3 following the launch of the USDS and sUSDS tokens on September 18th, with the SPK rewards program beginning on the same day.

Bankless Take:

Sky Aave Force arrives after the two DeFi titans' previous disagreements. By leveraging Aave's position as the largest DeFi lending market and integrating Sky's new stablecoins, this collaboration is poised to enhance both protocols' scalability and market reach, potentially fueling the further expansion of Aave’s own stablecoin, GHO, which has steadily grown over the last three months. As Sky and Aave comprise two of the top three revenue-generating dApps this past year, we can expect this 50/50 revenue split to further enhance their profitability.