Centrifuge Protocol vs Spark

Centrifuge Protocol tokenizes real-world assets like invoices and credit pools for DeFi. Its infrastructure bridges traditional finance and DeFi, enabling collateralization of real-world assets for on-chain lending.

SparkLend is MakerDAO’s permissionless lending front‑end that pipes DAI liquidity directly from the Maker core vault into isolated lending markets. Because the backend uses D3M credit lines, borrowers enjoy below‑market rates that float with the DAI Savings Rate. Since launch on Ethereum mainnet in May 2023 Spark TVL has oscillated between 300‑600 million DAI and is governed by MKR Executive Votes.