Recently, Spark Protocol, an open-source ZK-Rollup, revealed its intention to deploy on the Polygon zkEVM chain. The proposal aims to strengthen the position of DAI and sDAI and establish a fundamental building block for DeFi. This deployment is expected to drive growth and innovation within the multi-chain EVM ecosystem.
Polygon Welcomes Spart Protocol to Its Mainnet
The deployment of Spark Protocol on the Polygon zkEVM chain will open up new opportunities for public good infrastructure. Through a significant collaboration, Spark/DAI growth on the Polygon zkEVM Mainnet Beta will be supported, leading to an increase in demand for sDAI across all channels.
Polygon zkEVM, an open-source ZK-Rollup that offers EVM equivalence, was launched as a mainnet beta on March 27, 2023. In just two months, it experienced a staggering growth of 12,500%, with the number of unique wallets surpassing 213,000.
Additionally, the number of transactions increased by 18 times. This is only the beginning of the growth in TVL, users, and transactions as more protocols are set to launch in the next phase of expansion.
Moving from the current DAI implementation on Polygon zkEVM to two new contracts, Native DAI, and sDAI, is part of the planned integration. Native DAI will be made up of two contracts, L1_Escrow and NativeDAI, which will enable the transfer of DAI to and from zkEVM. On the other hand, sDAI will use the Native ERC-20 Bridge to represent DAI deposited in DSR.
Collaterals such as WETH, wstETH, and DAI will be integrated through Chainlink, with Spark Protocol continuing to rely on Chainlink Price Feeds for its oracle needs. The plan includes options for seeding initial DAI liquidity for Spark’s launch on zkEVM, with a minimum target of $500,000.
Developers are currently working on the deployment of Spark on Polygon zkEVM, and partnerships with Balancer and LayerZero Labs have been established. Bridge contracts will allow sDAI to be transferred to Polygon zkEVM for use in DeFi.
