Metalpha has conducted a significant on-chain transaction involving the deposit of 18,000 ETH as collateral into the Spark protocol. This collateralization enabled the borrowing of 12 million USDS and 8 million DAI stablecoins.
The borrowed stablecoins were subsequently converted into 20 million USDC and redeployed into Binance. This strategic move followed an earlier withdrawal of approximately 18,000 ETH from Binance, valued at approximately 48.45 million USD.
The transaction demonstrates Metalpha’s active utilization of decentralized finance protocols for optimizing asset liquidity and implementing dynamic portfolio management strategies.