# MIP55c3-SP16: Phoenix Labs - Spark Lend Launch (SPF)

## Preamble

```
MIP55c3-SP#: 16
Author(s): @PhoenixLabs
Contributors:
Tags:
Status: Obsolete
Date Proposed: 2023-02-08
Date Ratified: N/A
Amount Requested: 347,100 DAI
Recipient Address: 0xD9847E6b1314f0327F320E43B51ca0AaAD6FF509
Forum URL: https://forum.makerdao.com/t/mip55c3-sp16-phoenix-labs-spark-lend-launch/19734
Extra: This proposal has been marked as obsolete as per the changes introduced in [MIP55](https://mips.makerdao.com/mips/details/MIP55) via [MIP102c2-SP1](https://mips.makerdao.com/mips/details/MIP102c2SP1).
```

## Sentence Summary

This SPF requests 347,100 DAI for all expenses to launch Spark Lend and maintain it for a year. Details about Spark Protocol can be found here (link to the announcement).

## Paragraph Summary

This SPF provides funding for the launch of Spark Lend, the first Spark product we want to help launch from Phoenix Labs.

Spark Lend will bring to Maker a new decentralized application that will integrate with Maker’s strategic services (D3M, PSM, and DSR) into one front end to attract more crypto users and help to bootstrap the creation of the SubDAO communities. As presented in our roadmap, we want to start with a simple front-end that will allow the Maker Community to evaluate the growth of the product and according to it and based on the Community feedback, we could launch new features and products in the future.

If [MIP55c3-SP15](https://forum.makerdao.com/t/mip55c3-sp15-phoenix-labs-initial-funding/19733), [MIP116: D3M to Spark Lend](https://forum.makerdao.com/t/mip116-d3m-to-spark-lend/19732), and this SPF are approved, we will be ready to launch Spark Lend by April 2023 and maintain it for up to one year.

All products created by Phoenix Labs will belong to MakerDAO, including the smart contracts, the Front End, and all intellectual property.

## Special Purpose Fund Name

Phoenix Labs-Spark Lend launch.

## Special Purpose Fund Scope

To be as lean as possible, we will reuse as many Maker internal resources as possible and start with the launch of just one of the Spark Products. This budget includes all we need to launch and maintain the Spark Lend product for one year. The budget doesn’t include the team’s salaries as we will work on this but continue with our affiliation to our respective CUs until the ecosystem scope goes into effect. Once the framework to onboard EA is clear, we will present a complementary proposal that will include our salaries and the development of new features and products, as detailed here (link to the announcement).

This budget will allow us to:

- Create a new visual brand identity for Spark Lend and design and launch a landing page (information website).
- Launch Spark Lend contracts and front end by April 2023.
- Work on the product to improve the front end.
- Product maintenance for a year.

The current budget doesn’t include costs related to smart contracts audits, gas fees, risk assessments, and marketing as we will use all the Maker available resources and CU services.

### Detailed Roadmap

This SPF covers everything with an “IN PROGRESS” or “NOT STARTED” status. The New Features with an “IN THE ROADMAP” status are not covered by this SPF and will be developed later after Maker governance approves another budget that supports Phoenix Labs in doing it.

![](https://github.com/makerdao/mips/blob/master/MIP55/MIP55c3-Subproposals/supporting_materials/MIP55c3-SP16/SparkRoadmap.png)

### Budget Breakdown
![](https://github.com/makerdao/mips/blob/master/MIP55/MIP55c3-Subproposals/supporting_materials/MIP55c3-SP16/SparkBudgetBreakdown.png)

### Funding Breakdown

- Funding will be done in a lump sum upon Governance Approval of the SPF.
- Excess funds will be held in the multi-sig until the work is complete.
- Unspent funds will be returned to the Surplus Buffer.

### Special Purpose Fund Details
```
Official Contact or Group Name: Phoenix Labs-Spark Lend launch
Contact Email/Handle: @Nadia, @hexonaut
Date Added: 
Total Amount: 347,100 Dai
Wallet Address: 0xD9847E6b1314f0327F320E43B51ca0AaAD6FF509
Comptroller signers: @Nadia (https://forum.makerdao.com/t/mip55c3-sp16-phoenix-labs-spark-lend-launch/19734/15), @0xdeniz (https://forum.makerdao.com/t/mip55c3-sp16-phoenix-labs-spark-lend-launch/19734/17)
```