Sam Macpherson, CEO of the lending protocol Spark, proposes the sub-DAO model as an alternative to flat governance structures that slow down decision-making. Under this model, the parent DAO sets strategic rules while independent sub-DAOs handle daily operations and compete to deliver the most value. Spark Protocol, launched in 2023 within the Sky ecosystem (formerly MakerDAO), reached $3.6 billion in deployed capital in 2025, with projections exceeding $5 billion in 2026. This approach is part of Sky’s broader Endgame restructuring plan, which aims to let specialization emerge naturally among competing sub-DAOs.
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