ChainCatcher message, stablecoin issuer Ethena and tokenization platform Securitize are about to launch the stablecoin USDtb to participate in Spark's $1 billion tokenization competition.

The Spark competition (known as the 'Tokenization Grand Prix') will issue up to $1 billion in liquidity to selected partners. Spark is a lending platform in the Sky ecosystem, formerly known as MakerDAO. The results will be confirmed by governance votes from Sky token holders.

The application includes a proposed swap tool for USDtb and USDe (another stablecoin issued by Ethena), aimed at enabling the Sky ecosystem to manage the allocation between these assets based on interest rate changes.