Spark(SPK)

Overview

Spark (SPK) is a DeFi protocol built as an onchain capital allocator. It operates as a two-sided allocator, borrowing from Sky's stablecoin reserves and deploying capital across DeFi, CeFi, and real-world assets (RWAs), with allocations auto-balanced according to market conditions under a stated conservative risk profile. The project frames its purpose as addressing structural inefficiencies in DeFi, including fragmented liquidity, unstable yields, and idle stablecoin capital.

Its main products are SparkLend and Spark Savings. SparkLend is a stablecoin lending market that applies governance-defined rates rather than rates that fluctuate with utilization or loan size, an approach supported by the Spark Liquidity Layer (SLL), which supplies consistent stablecoin liquidity to the protocol. Spark Savings lets users convert stablecoins such as USDC and USDS into yield-bearing tokens like sUSDS and sUSDC, which are designed to be composable and available across multiple chains.