
The Spark Liquidity Layer is a significant improvement for DeFi that solves USD liquidity fragmentation across all major chains and protocols. Using its large stablecoin balance sheet, Spark will allocate funds across DeFi using an automated system to make markets more efficient for end users.
This innovation marks a key step toward optimizing the flow of stablecoin liquidity and maximizing its impact within the ecosystem.
Spark operates with a clear north star: to become the most advanced yield engine in DeFi at-scale. This focus drives the creation of innovative solutions that help individuals and projects grow their stablecoin positions efficiently and effectively.
The journey began in May 2023 with the launch of SparkLend, which unlocked the ability for users to borrow huge sums in DeFi without affecting rates. This addressed unmet market demand and resulted in SparkLend becoming the second-largest lending market in DeFi with $3.75 billion in Total Value Locked (TVL).
Spark is unique in that it can instantly and directly deploy large liquidity injections, which allows users to borrow large amounts without impacting borrowing rates, solving a critical issue for large borrowers often constrained by liquidity in traditional DeFi protocols.
These direct, instant liquidity injections are due to Spark’s unique ability to borrow USDC from Sky at the US treasury bill rate, with roughly $4 billion available at the time of writing. Spark can allocate this USDC into DeFi to earn a higher risk-adjusted return, and will use the spread between these two to build its treasury.

SparkLend set the foundation for Spark’s broader vision by facilitating the seamless allocation of liquidity across DeFi protocols. Since then, Spark has deployed $400 million into Ethena USDe vaults on Morpho at 16% APY, and $100 million into AAVE at 7% APY. These integrations reflect Spark’s ongoing commitment to advancing stablecoin adoption in DeFi.
Guided by its mission to deliver cutting-edge solutions for stablecoin growth and to redefine how liquidity operates within the DeFi ecosystem, Spark is introducing the Spark Liquidity Layer.
The Spark Liquidity Layer is multichain and cross-protocol. This allows Spark-directed liquidity injections to be allocated into all major lending markets.
Subscribe to this blog to receive updates on everything Spark.

Savings V2 Launches
Spark is on a mission to simplify DeFi. Savings V2 is the next step in achieving this goal by providing the Spark Universal Savings Rate (SUSR) to all major stablecoins across all major chains. Initially launching with support for USDC, USDT and ETH on Ethereum mainnet, Savings V2 will be progressively rolled out to more chains and stablecoins over the coming months.https://app.spark.fi/ (Snapshot taken Oct 14, 2025)A More Secure Approach to SavingsSpark Savings takes a conservative approach ...

Spark Roadmap: The next 6 months
A look back2025 has been a busy year for Spark. The year started with the launch of the Spark Liquidity Layer (SLL). This cross-chain, multi-asset allocation system enables Spark to access new lending opportunities, such as the Coinbase BTC Borrow product, which now supports $500 million of onchain loans directly to Coinbase users on Base. Coinbase kicked things off, but it is expected that most exchanges/fintechs will follow suit as the world races to get onchain. This is due to the cheap ca...

Spark Q4 2025 Financial Report
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The Spark Liquidity Layer is a significant improvement for DeFi that solves USD liquidity fragmentation across all major chains and protocols. Using its large stablecoin balance sheet, Spark will allocate funds across DeFi using an automated system to make markets more efficient for end users.
This innovation marks a key step toward optimizing the flow of stablecoin liquidity and maximizing its impact within the ecosystem.
Spark operates with a clear north star: to become the most advanced yield engine in DeFi at-scale. This focus drives the creation of innovative solutions that help individuals and projects grow their stablecoin positions efficiently and effectively.
The journey began in May 2023 with the launch of SparkLend, which unlocked the ability for users to borrow huge sums in DeFi without affecting rates. This addressed unmet market demand and resulted in SparkLend becoming the second-largest lending market in DeFi with $3.75 billion in Total Value Locked (TVL).
Spark is unique in that it can instantly and directly deploy large liquidity injections, which allows users to borrow large amounts without impacting borrowing rates, solving a critical issue for large borrowers often constrained by liquidity in traditional DeFi protocols.
These direct, instant liquidity injections are due to Spark’s unique ability to borrow USDC from Sky at the US treasury bill rate, with roughly $4 billion available at the time of writing. Spark can allocate this USDC into DeFi to earn a higher risk-adjusted return, and will use the spread between these two to build its treasury.

SparkLend set the foundation for Spark’s broader vision by facilitating the seamless allocation of liquidity across DeFi protocols. Since then, Spark has deployed $400 million into Ethena USDe vaults on Morpho at 16% APY, and $100 million into AAVE at 7% APY. These integrations reflect Spark’s ongoing commitment to advancing stablecoin adoption in DeFi.
Guided by its mission to deliver cutting-edge solutions for stablecoin growth and to redefine how liquidity operates within the DeFi ecosystem, Spark is introducing the Spark Liquidity Layer.
The Spark Liquidity Layer is multichain and cross-protocol. This allows Spark-directed liquidity injections to be allocated into all major lending markets.
Subscribe to this blog to receive updates on everything Spark.

Savings V2 Launches
Spark is on a mission to simplify DeFi. Savings V2 is the next step in achieving this goal by providing the Spark Universal Savings Rate (SUSR) to all major stablecoins across all major chains. Initially launching with support for USDC, USDT and ETH on Ethereum mainnet, Savings V2 will be progressively rolled out to more chains and stablecoins over the coming months.https://app.spark.fi/ (Snapshot taken Oct 14, 2025)A More Secure Approach to SavingsSpark Savings takes a conservative approach ...

Spark Roadmap: The next 6 months
A look back2025 has been a busy year for Spark. The year started with the launch of the Spark Liquidity Layer (SLL). This cross-chain, multi-asset allocation system enables Spark to access new lending opportunities, such as the Coinbase BTC Borrow product, which now supports $500 million of onchain loans directly to Coinbase users on Base. Coinbase kicked things off, but it is expected that most exchanges/fintechs will follow suit as the world races to get onchain. This is due to the cheap ca...

Spark Q4 2025 Financial Report
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