Pays 3.5% APY on USDT through Spark Savings as of February 26, 2026.

Stablecoin supply on SparkLend reached $2.36 billion on October 21, 2025, up 84.7% year-to-date from $1.43 billion.

Updated Points Program Season 3 to award 1 point per USDC per day for holding Savings USDC via Spark's frontend, and 1 point per USDT per day for holding Savings USDT via Spark's frontend.

Launches airdrop checker with anti-bot and anti-sybil filtering system before token launch.

Launches Spark Community channel on 2026-02-24.

Releases Spark Alive, the first premium toolset for premium users.

Generated $4.0M in fees over the past 30 days, representing a 0.3% increase.

Goes open source on 2026-02-21.

Spark has reached $5.37B in Total Value Locked (TVL), representing a -1.57% change over a 7-day period as of February 17, 2026.

Became the second-largest money market in DeFi by TVL within 252 days of launch.

Serves as a protocol treasury supplier of USDC on Aave.

Integrated with OpenClaw, allowing users to access OpenClaw functionality directly through Spark's UI.

Launched SPK as the first Agent token.

Deployed $630M in Bitcoin-backed loans via Coinbase, providing over 80% of liquidity for its January 2025 launch.

Launched Spark Prime, an institutional prime brokerage product with CeDeFi institutional margin lending, delta-neutral yield strategies, cross-venue liquidity access, a junior-capital vault for USDS yield via Arkis margin technology, and cross-margin positions across DeFi, centralized exchanges, and qualified custodians, on 2026-02-11.

Yields 3.75% on spUSDT backed by Sky Ecosystem.

Launched tri-party lending feature in Q4 2025.

Reached $364M in USDT TVL, growing by $200M over the prior 3 weeks.

Published quarterly financial reports that provide transparent accounting with accurate numbers, methodology explanations, and commentary on influencing factors, recognized as a model for DeFi project transparency.

Named as one of the protocols where Flying Tulip plans to deploy up to $1B of capital for onchain yield strategies targeting 4% annual returns.

Ranked among the top "low-risk defi" vaults in a Bloomberg article.

Hosts a Global Community Call on 2026-01-30 at 3 PM UTC, live-streamed on X and Discord, covering growth metrics, Q4 2025 financial report, governance updates, and Q&A.

Ended partnership relationship with Ethena during Q4 2025, resulting in complete disentanglement from USDe exposure.

Earned $4.5 million from rewards income during Q4 2025, up 69% from $2.6 million in Q3 2025, primarily from 60 basis point rewards on USDS distribution.

Increased stablecoin holdings by $2 million during Q4 2025.

Protocol treasury reached $43.22M at end of Q4 2025.

Made $4M strategic investment in Arkis.

Reallocates SPK tokens, maintains community allocation at 30% of total supply, with additional distribution from vibe coder allocations for liquidity, audits, and airdrop fees.

Put a governance proposal (SAEP-09) up for vote to adjust SubDAO Proxy parameters: reducing target runway from 24 months to 12 months, reducing product backstop from $5M to $1M USDS, reducing RRC lookback from 12 months to 3 months, and increasing buyback rate from 10% to 25%.

Has $193 million in stablecoins (DAI, USDT, USDS) borrowed through the protocol by the "7 Siblings" whale entity.

Has 596,800 ETH ($17.65 billion) deposited on the protocol by a single whale entity known as "7 Siblings" across 8 addresses, making them the largest depositor on Spark.

Anchorage facilitated institutional borrowing of $150M USDC against $222M BTC collateral, partnered in January 2026 for Atlas collateral management, and serves as custodian for institutional lending services.

Hexonaut, nad8802, and MonetSupply are associated with Spark as team members or contributors.

Listed among "hot coins" in market commentary alongside FARTCOIN and fish.

Conducted an airdrop in 2025 that distributed $600 per eligible participant.

Nominated for the "Best In Yield" award by The Rollup, with the winner to be announced on 2025-12-30.

Delisted from whatexchange on December 24, 2025 at 08:00 UTC.

Spark gains recognition as a promising Bitcoin L2 generating developer and builder excitement.

Launches PYUSD Savings Vault with 4.25% earnings rate, allocating 500M PYUSD paired with USDC and USDT. Savings V2 TVL reached $395M.

SatGo releases version 1.5.2 with bug fixes for Spark deposits, withdrawals, and portfolio display issues. The update adds automatic clawback mechanism that refunds users automatically when buy or sell transactions fail.

Spark launches a mini app integrated with Base wallet, expanding Spark Savings access to millions of Base users.

The project operates 4 business lines and generates most of its revenue from the Spark Liquidity Layer rather than lending markets, which have thin margins with most revenue going to liquidity providers.

Flashnet launched 11 days ago and reached a 3.3M all-time high before consolidating in the 700k-1M range. Bitcoin deposits into Spark continue increasing daily.

Testnet onboarding is active, with the team seeking feedback from Lightning Network and ecash users on protocol design and comparisons.

Spark collaborates with Lolli (trylolli) on a new release featuring Bitcoin rewards functionality.

Season 2 ends December 12th at 2pm UTC, with reward claiming beginning December 17th and remaining open for 6 months.

TVL increases to $3.6 billion, ranking #4 among lending protocols. Has $9B stablecoin liquidity via USDS, servicing fintechs and exchanges with market making operations that import 4.3 billion USDC liquidity through USDS on Curve/Uniswap.

Enables stablecoin payments at point-of-sale registers with wallet interoperability on Bitcoin infrastructure.

Spark expands to Avalanche blockchain, launching USDC savings vaults with triple rewards (SUSR + AVAX + Spark Points) and integrating with Euler and Benji lending protocols, with planned Avalanche Card integration for direct DeFi yield spending. Spark manages ~$3B in total assets and climbed from rank #12 to #5 on the DeFi TVL leaderboard between December 2024 and December 2025.

Beyond protocol integrates Sparks as a supported Bitcoin token standard for cross-chain bridging, connecting to Ethereum, Solana, and other Bitcoin token protocols.

BTC Trenches is identified as new technology built on Spark and Flashnet on top of Bitcoin.

Spark oversees $1.32 billion in borrowed assets across 26 yield pools, generating $44.34 million in fees and $4.52 million in revenue in Q4 2025 on Arbitrum.

Spark joins the Ethereum Protocol Advocacy Alliance alongside Aave, Aragon, Curve, Lido, The Graph, and Uniswap to coordinate policy efforts protecting Ethereum's neutrality and supporting open, permissionless innovation.

SparkLend does not accept DAI or USDS as collateral on its platform.

Completes major infrastructure upgrades over several months to support thousands of requests per second and high TPS requirements, with network successfully handling high volumes on Monday's relaunch. Introduces BTKN standard enabling token issuance on Bitcoin, with additional ecosystem integrations including SatsTerminal, SatGoBTC, xverse, and bitbit_bot.

Spark integrates with Flashnet to enable Bitcoin DeFi functionality on the platform.

Spark integrates with Luminex platform through BitcoinPuppets referral link initiative to raise funds for events via trading commissions.

SparkLend delivers final revenue share of approximately $1.7m in October, below the projected $2m target. Allegations emerge that the project dodges revenue share on its Aave fork through its relationship with Morpho.

Brale launches automated fiat-to-stablecoin onramps that integrate with Spark's global settlement layer for cross-border money movement.

Trading volume on the platform is currently lower than expected following the recent launch.

Stop Loss and Take Profit automation features launch live on the dashboard, enabling automated position closing based on configured price thresholds.

Accusations emerge that Spark fails to honor agreements with AAVE through "hollywood accounting games," causing distrust and friction between the protocols. Expected cascading effects include shifts in USDS looping strategies and impacts on Morpho vaults due to Spark's role in arbitraging rates and injecting liquidity into AAVE.

Aave v3 disables USDS and DAI as collateral following governance decision, with response addressing misunderstandings about Spark's borrowing mechanism from Sky.

Early trading opportunities emerge on the platform with $ASTY token showing strong performance today.

New token launches on the platform experience rug pulls at 10-20k market cap levels. SatsTerminal launches as a DEX aggregator routing across Luminex, SatGo and other Spark DEXs with a promotional campaign running until December 7.

Collective market cap of Spark tokens flips Monad tokens ($3B FDV) in 12 hours.

Deposit functionality encounters technical problems with funds not appearing after confirmations, prompting submitted updates to fix auto-claim fee settings and EU user decimal format bugs.

Spark offers a 4.5% savings rate to PayPal PYUSD holders.

Introduces volume-based incentive program offering $7,500 in BTC per $5M traded on utxofun-created tokens, alongside platform UI/UX improvements.

Frank DeGods and fxnction endorse the platform, with users adding funds to SatGoBTC wallets based on their recommendations.

Spark and Flashnet launch at 11 am PST today (December 1st) with SatGoBTC integration.

Deposit functionality launches with USDC/SOL/ETH to BTC conversion requiring 4 block confirmations, with trading going live at 11 AM PT / 2 PM ET.

Relaunch scheduled for December 2nd at 7PM UTC with potential airdrop rewards for users who bridge BTC before the relaunch date. Three launchpads (Luminex, Satsdaq, SatGO) are available on the platform.

Platform relaunch scheduled for December 1st at 8pm CET / 2pm EST with multiple new launchpads including Luminex and SatGo going live to enable token launches.

Notable ordinals trader "kook" returns to trade on spark.

Launchpad goes live on December 1st, enabling coin launches on the platform through SatGoBTC integration.

SatGo becomes a comprehensive platform supporting Solana/Ethereum cross-chain functionality, instant token trading, and new token launches with creator rewards by December 1st.

$SPK tokens are now available to trade on Bitstamp by Robinhood.

Trading of spark tokens becomes available again on December 1st.

Flashnet live trading relaunches on December 1st with mobile trading capabilities through SatGoBTC integration, and an airdrop campaign runs for users bridging to Spark on the app.

Spark Mobile product is paused to focus on integrating Spark Earn products into existing fintechs and neobanks. Q1 2026 protocol enhancement will add Just-in-Time liquidity from the PSM to Spark Savings and SparkLend, enabling users to access billions in USDC borrowing capacity. An institutional-focused announcement is scheduled for the new year.

Savings V2 TVL surpasses $300M with deposit caps raised to USDT 500M, USDC 500M, and ETH 100K. A new data partnership is announced with overall platform TVL at approximately $9B.

December 1st deadline announced for depositing BTC to Spark through SatGoBTC, with hints of post-deadline benefits for participants who deposit before this date.

Credora Network goes live on Spark, providing DeFi credit ratings that combine standardized methodologies, private expert analysis, and onchain distribution.

Governance voting opens on proposal to adopt a buyback mechanism using excess treasury funds to purchase SPK tokens, with treasury having earned over $10 million in net revenue since TGE in June. The buyback size programmatically increases as the treasury accrues more excess capital.

New governance polls open for SPK/stSPK holders with voting closing on November 27, 2025.

Arbitrum Drip Epoch 6 launches with the circulating supply of sUSDS and sUSDC surpassing $120M+.

P/S ratio stands at 2.91 according to DefiLlama data, ranking as the 4th lowest among 11 major DeFi protocols listed.

TVL reaches all-time high when measured in ETH terms.

User alleges that Spark stole their BTC when Bitcoin was valued over $100k.

New privacy features are now live on the platform.

Team completed 3-week intensive work session at Spark and Flashnet offices collaborating with Luminex members, improving SatGoBTC token trading and launch infrastructure.

Spark announces automated liquidity service powered by the Spark Liquidity Layer in partnership with Morpho and Coinbase.

Risk management has been recently strengthened and all assets are now fully transparent.

TVL exceeds $3 billion across all chains, positioning Spark as the market leader in the onchain capital allocator market.

A working demo integrates Spark wallets with Lightspark Grid to enable real-time Bitcoin rewards for card issuers and game developers.

SyrupUSDC reaches $610 million in assets deployed through Spark as part of Maple Finance's DeFi expansion.

Whale group "7 Siblings" borrowed 11 million USDS from Spark to purchase 3,496 ETH at $3,147, continuing accumulation strategy that totals 49,287 ETH worth $174 million since October 11th.

spUSDC deposits fill 50% of newly increased capacity cap.

The largest Spark delegate approved a $4m funding proposal from the Spark team without independent diligence, despite the team having personal investments in the funding recipient.