"The layout of the parent project determines the ceiling of the sub-project Sky & Spark" I just saw Sky announce that it would spend nearly 3 million u to buy back $sky A large part of why I'm bullish on Spark is the parent project Sky. Today I will tell you why. 📌 Before you start, the old rules comment #spark I'll reply for extra points › ••••••••• ‹ Sky currently has annualised revenue of $320 million and a market capitalisation of $2.5 billion. This market capitalisation is basically undervalued in DeFi, and with the continuous buyback of the project party, $Sky has performed very well recently In May, he repurchased $7.75 million of $SKY, and in early June, he bought more than $60 million $SKY with staking rewards for several days in a row, spending nearly $5 million in total These repurchased coins are finally re-pledged and continue to be locked. This cycle of pledge + repurchase + re-pledge continues to compress the circulation This set of logic is also the basic disk that supports the positive cycle of USDS #Spark It is the on-chain fund allocation engine that has grown under this architecture @sparkdotfi was actually an experimental subDAO incubated within the Sky system at first, and later became an independent executive centre for fund management. Its job is not traditional lending, but directly managing Sky's huge pool of funds, doing revenue management and capital scheduling on the whole chain Currently, Spark's funds flow to three main areas: Some of them are invested in DeFi, such as mainstream protocols such as SparkLend, Morpho, and Pendle Part goes to CeFi and RWA, with a mix of more real-world earnings like Maple, Centrifuge, and BlackRock Treasury There are also some Basis Trade in the bull market, such as the highly leveraged arbitrage model of Ethena. The bull market dares to take risks, and the high profits can be rushed; The bear market returns with CeFi and Treasury spreads holding steady I still remember that Sky has been rebuying, and these repurchase funds are re-locked and pledged, and the output of $USDS is stable every day, and these stable incomes are used to continue to repurchase $SKY and re-pledge, forming a snowball effect The pattern of the parent project is opened, and the core grasps the two ends of credit expansion + capital allocation to grow in DeFi. As the execution layer of fund scheduling, Spark will only continue to expand as Sky's asset scale continues to expand in the future, becoming the first truly decent on-chain asset management system in DeFi That's the core reason why I'm bullish on Spark! Not only is it supported by @cookiedotfun @cookiedotfuncn's list, but Spark's own points airdrop also makes me look forward to it The possible window for issuing coins is either the end of the month or the next month, and USDS has not yet been deposited. At the beginning of the month, I bought 2500 $eth mortgage lending USDS to earn interest, and also earned airdrop points, one fish and three eat at present~ #cookie #spark #sky #snaps The big guys on the list can be followed @lubijiaocheng @0xjiaming @egyptk6 @rob1in_kcex @cryptolisa @bubblebing_666 @moyu_777 @captain_kent @jing_0517doge @0xdogacan @chubaiweb3 @Zhaogongming_ @jiao_newlife