SPK Token
SPK is Spark's native governance and staking token. The design of SPK focuses on long-term sustainability, decentralization, and ecosystem synergy, supporting protocol governance, ensuring protocol security through staking, and distributing rewards to participants.
Spark is deployed on Ethereum, Arbitrum, Base, Optimism, Unichain, and Gnosis Chain, managing over $3.5 billion in stablecoin liquidity and generating over $172 million in annualized protocol revenue at the time of writing.
Spark mainly includes three major categories of products:
Savings: Earn savings by holding stablecoins.
Borrow: A USDS-centered currency market protocol. It combines the best liquidity of Sky's direct chain and vertically integrates with the best DeFi protocols.
Liquidity layer: Providing liquidity directly to the DeFi market.
What is Spark's mission?
The birth of Spark is to solve a structural problem that has existed in DeFi since its inception: liquidity fragmentation, unstable yields, and the underutilization of idle stablecoin funds across chains and protocols. Despite years of development, this issue remains unresolved. Spark acts as a bi-directional capital allocator: in terms of the ecosystem, it borrows funds from Sky's over $6.5 billion in stablecoin reserves and deploys them into DeFi, CeFi, and risk-weighted assets (RWA). This not only provides deep and sustained liquidity but also achieves scalable risk-adjusted returns.
On the user side, Spark packages yields into accessible products like sUSDS and sUSDC, allowing users seamless access to diversified, free, and composable on-chain programmable income.
Spark does not compete with other protocols but supports them. It is not just a DeFi application, but a core liquidity and yield infrastructure layer for on-chain finance.
What is savings?
Spark allows users to easily deposit stablecoins into savings accounts and receive Savings USDS (sUSDS) tokens in return. The sUSDS token represents your share of USDS in the Sky Savings Rate. As savings accumulate, the value of sUSDS will also increase. The Sky Savings Rate is set by Sky Governance.
What is sUSDC?
Savings USDC (sUSDC) is the tokenized representation of USDC, held in the Savings USDC vault. The Savings USDC vault deposits USDC at the Sky Savings Rate (SSR) provided by Sky. The sUSDC token enables users to earn yield from SSR deposits while still being able to transfer, stake, borrow, and use it in any way. sUSDC supports multiple networks such as Ethereum, Base, and Arbitrum. You can find an overview of supported networks and token addresses below.
How much can I earn with SPK?
Depositors can earn ongoing yields, which fluctuate based on the following market conditions:
Loan interest payment: Depositors share the interest paid by borrowers. The higher the reserve utilization rate, the higher the yield for depositors.
Each asset has its unique supply and demand market, and its annual percentage yield (APY) will fluctuate over time. You can check the average annual yield over the past 30 days to assess yield changes, and you can find a reserve overview of each asset on the app's homepage for more data.
Earn Savings
Spark allows users to easily deposit stablecoins into the savings vault and receive savings tokens that represent your share of deposits in the savings vault. As savings accumulate, the value of the savings tokens will grow over time relative to the underlying deposit assets.
What is the total supply of SPK?
A total of 10 billion SPK tokens were minted at the genesis. *35% of the SPK tokens are allocated to the Spark ecosystem to support its development. The Sky ecosystem will receive 65% of the genesis tokens, which will be distributed through a 10-year SPK mining activity.
Spark's strategy focuses not only on short-term profits. Combining stablecoins such as sUSDS with yield-bearing assets helps achieve sustained, predictable returns. As the DeFi landscape continues to evolve, Spark is able to combine stable returns with high-yield strategies in both DeFi and traditional finance (TradFi) markets, allowing it to weather any market storm.
The Ignition airdrop has secured 31.6 million SPK subscriptions, sparking heated discussions. But this is just the beginning. Overdrive has officially launched, and 29.8 million SPK has been staked. Now, you can stake your Ignition SPK through: @symbioticfi and earn additional SPK.
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