Spark Protocol
Credit · Lending · SPK
Spark is a lending system built mainly around stablecoin liquidity, borrowing and yield (SparkLend + Spark Savings), routing USDS/DAI liquidity from the Sky/Maker ecosystem at scale.
Stablecoin-native credit stack tied to the Sky/Maker ecosystem.
SPK price
$0.0186
+3.9% 24h
Latest data · 15 min delay
Asset coverage
Collateral, oracles, risk parameters, and deployment facts.
Asset coverage & risk
Collateral assets
Loan assets
Stablecoin exposure
Stablecoin exposure (% TVL)
82% of TVL in stables (curated estimate).
Oracles
Risk parameters
SparkLend started from Aave V3 architecture — per-asset LTV, liquidation threshold/penalty and caps, tuned for stablecoin liquidity.
Liquidations
Aave-V3-style health-factor liquidations by keepers.
Liquidations (30d)
Aave-V3-style keeper liquidations on SparkLend.
Bad debt
Backstopped by the Sky/Maker surplus buffer and risk parameters.
Governance activity
Governed via Spark + Sky governance (USDS/DAI risk and savings rate).
Governance notes
Spark + Sky governance coordinate USDS/DAI risk and savings rate.
Audit / exploit history
Forked from audited Aave V3 code with additional Spark-specific audits.
Chains · EVM: yes
Deployment notes
Part of the Sky/Maker ecosystem; EVM-oriented (IQ.wiki).
Tag-specific lending coverage
Collateral assets
Oracles
Member coins & supported assets
Spark ProtocolSPK
Governance token
SKYSKY
Sky ecosystem governance (MKR successor)
USDSUSDS
Primary stablecoin liquidity (Sky)
Spark (no native token)—
No native token
sDAI (Savings DAI)sDAI
Savings DAI; governed by Sky
spUSDC, spWETH (and other spTokens)spUSDC
LendingReceipt