DeFi Lending Platform Spark Allocates $100M To Superstate’s Crypto Carry Fund
Spark, a DeFi lending platform & onchain asset allocator, reportedly allotted $100 million of its stablecoin reserves into Superstate’s USCC fund, a regulated crypto basis trading product that generates yield from price differentials between spot and futures markets. This update is said to mark one of the large-scale moves by a DeFi protocol to diversify away from government securities as Treasury yields reach 6-month lows.
Robert Leshner, CEO of Superstate said that the investment enables Spark to maintain exposure to yield opportunities that are said to be uncorrelated with Federal Reserve rate policy while operating within “a compliant institutional framework.” Leshner added that a protocols adapt to the new rate…
