SKY has recently demonstrated resilience in the DeFi sector, holding steady even in a tight liquidity environment, with a drop of only 1011 points. From the perspective of profitability at the Protocol level, Sky's data is quite robust. The key lies in its business architecture design—after spinning off the lending business to establish Spark, it actually optimized the overall cash flow. Although the basic income did not shrink (funds allocated to Spark still earn interest), the financing costs have significantly decreased. Coupled with the TVL subsidies from Spark tokens, the entire system forms a clever closed loop. This is essentially a subDAO providing blood transfusions to Sky, but in a very covert way. Through splitting and collaboration, Sky has maintained its earning ability while amplifying its attractiveness through ecosystem subsidies. This model is a rare growth approach in the current DeFi competitive landscape.

SKY-2.92%
SPK-5.68%
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OnchainHolmesvip
· 4h ago
Wow, Spark's move was really brilliant. Isn't this just switching hands? On the surface, it seems independent, but in reality, it's still feeding off Sky's resources.
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AirdropHunterWangvip
· 4h ago
Wait a minute, this splitting pattern, upon closer inspection, is actually quite clever. On the surface, they seem independent, but in reality, it's still one family supporting each other. It's quite covert.
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TrustMeBrovip
· 5h ago
I like covert blood transfusions; this set of disassembly work really took it to a new level.
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ColdWalletGuardianvip
· 5h ago
I have to say, this splitting logic is quite clever; Spark's move is essentially like extending its own life.
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StakeTillRetirevip
· 5h ago
This splitting architecture is indeed quite skillful, but it feels a bit like left hand flipping right hand? To put it simply, it still depends on whether Spark can truly scale up.
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MevTearsvip
· 5h ago
This splitting logic really takes it to the next level; even after losing blood, they can pretend nothing's wrong.
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