⚡️Uniswap has integrated Spark's PSM, and now it basically supports 1:1 swaps between USDS/USDC/DAI. @sparkdotfi set the fees on Uniswap super, super low, enabling zero slippage swaps even for transactions in the tens of millions. This is something that others might not be able to pull off: Because for regular market makers/LPs, stablecoin pair quotes must cover the opportunity cost of capital + impermanent loss + fee profits, so the fees can't be lowered too much. But Spark is like a "money-printing market maker"—its capital costs are internalized, its inventory is owned by the protocol, and the subsidy funds come from its own pockets. With this revenue engine, swap fees for Spark are just a customer acquisition and routing cost, not a profit center. Looking at it this way, the partnership between Spark and Uniswap is truly a textbook example of "borrowing a boat to set sail," with clear division of labor: Uniswap provides the entry point and routing, while Spark provides depth and a solid anchor, aiming to make USDS a dominant hub for transfers. Feels like this could have a huge impact on Curve. Spark's PSM + Uniswap combo might completely siphon off the traffic from its 3pool model.