# MakerDAO launches Spark, a DAI lending market forked from Aave v3

Canonical page: https://technooptimist.io/stories/makerdao-launches-spark-a-dai-lending-market-forked-from-aave-v3-73966380
Date: 8 May 2023
About: [Sky (formerly MakerDAO)](https://technooptimist.io/companies/sky.md) · [Spark (SparkLend and Liquidity Layer)](https://technooptimist.io/crypto/spark.md)
Original source: https://www.theblock.co/post/229805/makerdao-boosts-dai-lending-capabilities-via-spark-protocol-roll-out

MakerDAO opened SparkLend to all users from May 9, 2023. Built by contributor firm Phoenix Labs as a fork of Aave v3, it let users supply and borrow ETH, stETH and DAI, with the DAI borrow rate set by governance vote rather than by supply and demand.

## Key facts

- Initial DAI borrow rate: 1.11% a year.
- Runs separately from Maker's core vaults that mint DAI.
- Phoenix Labs led development as a contributor to MakerDAO.

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