MakerDAO Protocol has announced a Spark Tokenization Grand Prix competition with the goal of tokenizing up to $1 billion worth of assets. The main focus will be on short-term US Treasuries and comparable tokenized products. 🏦💰

Submissions will begin on August 12, and the jury will include organizations such as Phoenix Labs and Steakhouse Financial. Evaluation criteria include competitive and transparent pricing models, high liquidity to ensure smooth transactions, and strategic alignment with Spark's long-term vision and goals.

Once the finalists are selected, MKR token holders will participate in selecting the winner through the MakerDAO governance loop.

Spark is a division of the Maker Allocator SubDAO that manages and controls Spark through decentralized governance. Its goal is to strengthen the DAI ecosystem in the MakerDAO community.