Introducing the USDC Savings Vault: Earn with sUSDC ⬇️ @sparkdotfi

Spark Savings enables stablecoin holders to earn a competitive risk-adjusted rate in DeFi at scale, with minimal liquidity constraints.  This rate is determined by the Sky Savings Rate, which is set by Sky governance based on market conditions and Sky’s revenue. Unlike variable DeFi lending rates that automatically fluctuate based on utilization, the Sky Savings Rate does not auto-fluctuate and adjusts only through governance decisions—currently around $400M per year. Of this revenue, 25% originates from SparkLend and the Spark Liquidity Layer.

Spark Savings launched with a single vault, the USDS Savings Vault, allowing users to deposit stablecoins and hold their positions in sUSDS. Spark does not charge any additional fees for accessing Savings, and there is no unlocking period for withdraw of deposits or accumulated rewards. As of now, the USDS Savings Vault has reached a total value locked (TVL) of $4B.

Building on the success of the USDS Savings Vault and reinforcing Spark’s role as the stablecoin growth engine for DeFi, Spark is introducing the USDC Savings Vault. This new vault will offer the same benefits as the USDS Savings Vault, including the Sky Savings Rate, which is currently 6.5%. When users deposit USDC into the vault, they will receive sUSDC, representing their position within the vault. @cookiedotfun