News

Foresight News reported that PayPal has partnered with the decentralized finance platform Spark. PYUSD, issued by Paxos and pegged to the US dollar, has recently been integrated into Spark's lending platform, SparkLend, with $100 million already deposited. This integration allows users to supply and borrow PYUSD, with liquidity supported by Spark's $8 billion stablecoin reserve pool. There are plans to expand PYUSD liquidity to $1 billion. Spark had previously deployed $630 million in on-chain Bitcoin-backed loans to a certain exchange. David Weber, Head of the PayPal PYUSD ecosystem, stated: "As DeFi's total value approaches $150 billion, platforms like Spark are crucial for driving PYUSD to become a deeply liquid cornerstone of DeFi."

Foresight News reported that the Lido community has initiated a proposal requesting approval of the concept for the "NEST" modular mechanism and to proceed with further research and design. NEST proposes a modular and future-oriented system that allows for the triggering of LDO buybacks and provides token holders with future programmatic execution guarantees. Activation of this system requires an Aragon DAO vote to deposit a specific amount of stETH into NEST. The proposal emphasizes that approving this proposal does not mean approving any parameters or initiating issuance. Follow-up proposals containing the final design and implementation details will be postponed until the results of the technical evaluation are available and will be submitted within the next six months.