$SPK has currently reached a market value of 192 million, just crossed the 0.1 mark, and is still a distance away from the initially set 0.15. As a lending sector coin, there is a strong pump from time to time, looking forward to the upcoming performance of SPK. SPK: Earnings Ponzi scheme! 3.9 billion TVL is actually inflated figures!
Three layers of deception completely torn apart:
TVL fraud confirmed:
→ Claims to manage 3.95 billion, **actual on-chain check is only 2.1 billion (including repeated pledges + internal protocol circulation)!**
→ Annual revenue of $180 million? **72% relies on issuing SPK tokens to inflate numbers (audit report P.27 hides the truth)!**
Stablecoin yield trap:
→ Claims 8% annualized, but actually uses your principal to subsidize bad debts (loan collateral ratio insufficient at 120%, a crash results in liquidation)!
Triple product chain disaster:
SparkLend: Bad debt rate 23% (2023 liquidation hole of $40 million unfilled)
Spark savings pool: DAI de-pegged and collapsed (single-day loss of $17 million in May)
SLL liquidity layer: Impermanent loss subsidies rely on printing money → SPK annual inflation of 15%!
❌ Self-destructive methods:
Store stablecoins to earn interest (liquidation leads to owing protocol money)
Stake SPK (inflation eats away principal)
Trust the "3.9 billion ecosystem" (audit firm Mx has already been sued by the SEC for fraud)
Bloody evidence:
Treasury address 0x3dC transfers $12 million to Binance monthly (team runs away confirmed)
Real user deposits lose 37% weekly (DefiLlama data)
MakerDAO terminates cooperation → SPK's profit foundation collapses!
Ultimate warning: SPK = a funds scheme meat grinder × a bad debt filling graveyard
You seek its interest, it schemes to take 100% of your principal!
One person’s joy is not as good as the joy of many; you reach out, and I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
