Spark Review
Lending Protocols · Official site ↗
By DifiCalc Research Team · Published Sep 20, 2026 Data verified Sep 20, 2026 via DeFiLlama
The Sky ecosystem's yield engine — SparkLend plus an onchain liquidity layer across DeFi, CeFi and RWA
Best for: Sky ecosystem users who want Aave-grade lending backed by stablecoin-reserve depth
Risk Assessment
SparkLend holds roughly $4.9B on DeFiLlama (a ~$7.4B total market including the Liquidity Layer), forked from audited Aave V3 with additional reviews by ChainSecurity and Cantina and a $5M bug bounty. Rated A rather than A+ because governance is tightly coupled to Sky, the Gnosis Chain deployment was fully deprecated in September 2026 and savings rates are adjustable without notice.
Fees
| Protocol | no deposit fees; rates are set by governance and capital allocation |
| Borrow Spread | variable rates on SparkLend, with selected stable-rate markets |
Top Markets
| Asset | Type | Utilization | 30d APY |
|---|---|---|---|
| USDC | lending | 71% | 4.7% |
| USDS | lending | 68% | 4.3% |
| WETH | lending | 42% | 2.4% |
| sUSDC | savings | — | 4.5% |
Strengths
- ✓Third-largest lending protocol on DeFiLlama, with ~$4.9B TVL
- ✓Forked from audited Aave V3 with extra reviews by ChainSecurity and Cantina
- ✓Spark Savings supports USDC, USDT, PYUSD, USDS and ETH with flexible withdrawals
- ✓Backed by Sky stablecoin reserves and one of DeFi's largest bug bounties
Weaknesses & Risks
- !Closely tied to Sky governance rather than fully independent
- !The Gnosis Chain deployment was deprecated in September 2026, forcing migration
- !Savings rates are variable and can be adjusted without notice
Compare Spark with alternatives
Spark FAQ
What is Spark?
Spark is a DeFi lending protocol, founded in 2023, live on ethereum, arbitrum, base, optimism, unichain. The Sky ecosystem's yield engine — SparkLend plus an onchain liquidity layer across DeFi, CeFi and RWA
What APY can I earn on Spark?
Current yields typically range from 3% to 7.5% APY, with a typical rate around 4.5%. APY varies with market conditions, utilization and token emissions — always verify live rates before depositing.
Is Spark safe?
DifiCalc risk grade: A. SparkLend holds roughly $4.9B on DeFiLlama (a ~$7.4B total market including the Liquidity Layer), forked from audited Aave V3 with additional reviews by ChainSecurity and Cantina and a $5M bug bounty. Rated A rather than A+ because governance is tightly coupled to Sky, the Gnosis Chain deployment was fully deprecated in September 2026 and savings rates are adjustable without notice. Audits: ChainSecurity, Cantina. As with all DeFi, smart-contract and market risk remains — never deposit more than you can afford to lose.
What fees does Spark charge?
Protocol: no deposit fees; rates are set by governance and capital allocation. Borrow Spread: variable rates on SparkLend, with selected stable-rate markets.
Run the numbers yourself
Model a real Spark position with our free yield calculator — no signup.
Information last reviewed in 2026. APY figures are indicative ranges from protocol data and may differ from live rates. This page is for informational purposes only and is not financial advice.