Ethena and Securitize are participating in the upcoming stablecoin USDtb's $1 billion tokenization competition for Spark. The initial reserves of USDtb will be supported by over 90% from BlackRock's BUIDL fund, which is tokenized by Securitize. Spark is a platform under the Sky ecosystem (formerly MakerDAO), and the results of the competition will be decided by votes from Sky token holders. Ethena claims to contribute approximately $120 million in revenue to the Sky ecosystem each year, accounting for nearly 30% of total revenue. (TheBlock)