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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
- Documentation
- Auditors
- Please see our FAQ on experienced auditors
Info
- Website
- Token: SPK
- Tags: Lending
Key Metrics
- TVL: $5.7B (Rank #11)
- TVL Ranking by Lending: #3
- Blockchain: Ethereum, xDai
- Chain TVL
- Ethereum: $5.64B
- xDai: $20.31M
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
