The Importance of Interchange Security

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Sam McPherson is the co founder and CEO of Phoenix Labs, which is a contracting development team building Spark protocol. The Adam accelerator is rolling out grants on a monthly basis, ranging from 10,000 to $1 million for developers that are willing to make an effort to change the status of Adam within the economic zone. We're looking for all developers that need a new home or looking for an exciting place to build because the Adam economic zone is looking more ripe than ever to be that location.

Sam MacPherson joins us to discuss how Spark leverages MakerDAO's wholesale credit line to build a lending marketplace built around DAI. We talk about Spark's design, the pervading influence of MakerDAO's DSR, why spot stablecoin demand reigns supreme, Spark's L2 strategy, MakerDAO's shift to AMOs and more!

And as usual, we start the episode with our analyst bullpen to discuss Gary Gensler's failure, Arbitrum's bug and social consensus, Solana's (not gonna happen) fork debate and if this is the worst bull market.

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Timestamps:

(00:00) Introduction

(01:14) Hot Seat/Cool Throne

(32:25) Interview Start: Spark

(38:23) How the DSR Enables the Lowest Rates in DeFi

(41:08) Organic Spot Demand for Stablecoins

(45:44) The DSRs Equilibrium Rate

(49:15) Undercollateralized Lending

(50:33) MakerDAO's Replacing the PSM with AMOs

(53:54) Spark’s L2 Strategy

(56:52) Fixed Rate Lending and DeFi’s Yield Curve

(1:01:12) Every Protocol Will Vertically Integrate

(1:03:12) Why Spark Forked Aave v3

(1:05:41) How the SubDAO Bidding Process Works

(1:08:40) Revenue in High vs Low Rate Environments

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Today’s episode is brought to you by the Atom Accelerator, now offering grants to build out the ATOM economic zone! It's the perfect time to build with Cosmos and join the thriving ATOM ecosystem. With Interchain Security live, and the power of IBC connecting the interchain, builders are flocking to Cosmos. Join the ranks of Neutron, Lido, Astroport, Gitcoin, Mars and numerous other projects harnessing Cosmos’ leading infrastructure. Discover how to secure a grant from the Atom Accelerator by visiting https://www.atomaccelerator.com/ today!

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Resources:

Proof-of-Steak (Gary Gensler)

https://twitter.com/GaryGensler/status/1623777842000539648?

MakerDAO

https://makerdao.com

Phoenix Labs

https://twitter.com/phoenixlabsdev

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.