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Spark

Lending

Spark is a DeFi lending platform, incubated from Sky (Maker), that offers predictable rates for USDS (DAI).

Risk Rating
Good
Protocol Code Quality
Protocol Maturity
Protocol Design
What is Spark?
Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $5.4B (Rank #10)
  • TVL Ranking by Lending: #3
  • Blockchain: Ethereum, xDai
  • Chain TVL
    • Ethereum: $5.33B
    • xDai: $28.77M
Risk Assessment
Good
Protocol Code Quality
  • Code reviewed by several experienced auditors; Spark is forked from the Aave V3 codebase which has been extensively audited. ChainSecurity also completed independent audits
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2023; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 1% by total value locked reduces risk
  • Requires members of a DAO to vote on-chain for approving contract upgrades
  • Timelock is less than 48hrs, which provides users with less time to exit if any malicious upgrades are approved
  • At least one critical governance issue documented
  • Low voting power concentration reduces risk
Protocol Design
  • Robust controls to mitigate oracle price manipulation
  • Secured lending market that uses a combination of isolated and cross-collateral pools depending on the individual asset serves to reduce risk
  • Solid controls in place to prevent risky borrowing
  • Robust mechanisms in place to ensure healthy liquidations
  • Robust methods to accrue protocol reserves
  • Spark is Maker's lending arm that is forked from the Aave V3 codebase.
Things to know about Spark
Spark Pools
Spark USD Lending
~
Yield
~
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark ETH Lending
0%
Yield
$3B
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark BTC Lending
0%
Yield
$355M
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark ETH Lending
1.9%
Yield
$256M
TVL
Risk
A
Protocol
Spark
Chain
Ethereum
Spark USD Fee sharing
6.4%
Yield
$249M
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark USD Lending
3.7%
Yield
$157M
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark BTC Lending
0%
Yield
$108M
TVL
Risk
A
Protocol
Spark
Chain
Ethereum
Spark ETH Lending
0%
Yield
$80M
TVL
Risk
B
Protocol
Spark
Chain
Ethereum
Spark USD Lending
1.2%
Yield
$37M
TVL
Risk
A
Protocol
Spark
Chain
Ethereum
Spark ETH Lending
0%
Yield
$26M
TVL
Risk
C
Protocol
Spark
Chain
Gnosis