At that time, the largest stablecoin pool for Morpho was the Dai pool provided by Makerdao. As Spark's TGE approached, Makerdao now fully utilized Spark's expected token rewards and began learning Ethena, playing with revolving loans, further stimulating the adoption of USDs. Ethena's AAVE and Morpho revolving loans added approximately 1.5 billion USDs to the adoption.