Lama

contributing @sparkfinance | views are my own

[Lama @yieldlama]

@0x_ultra @Defi_Warhol @GracyBitget 💯

[Lama @yieldlama]

OKX users see one USDT balance. @sparkfinance moves the capital behind it only within the venues, exposure limits, and rate limits governance has already set.

[Spark @sparkfinance]

https://t.co/2JAPNmdNmt

[Spark @sparkfinance]

Holding USDS in Binance Keyless Wallet now earns automatically, no staking required.

We power the USDS side of this with deep liquidity, no idle capital.

That's not just saving. That's saving with intelligence.

[Lama @yieldlama]

as more stablecoins launch, the challenge shifts from issuance to connecting them with deep & reusable liquidity.

@sparkfinance’s FX Layer is built for that.

[Spark @sparkfinance]

https://t.co/JHCx3BWNiS

[Spark @sparkfinance]

SparkLend's borrowing on Ethereum has grown 247% since March, approaching $3B.

USDS led the growth. USDS borrowing rose from $188M to $917M, accounting for nearly half the $1.5B increase in total borrowing.

Competitive borrowing rates are helping drive that demand.

Over the last 30 days, USDS borrowing averaged 3.9%, while USDT averaged 4.07% and USDC 4.3%, all below comparable rates across other major pooled lending markets.

USDS also gives borrowers another advantage: through @SkyEcosystem's LitePSM, borrowed USDS can be converted into USDC while the debt remains denominated in USDS.

We've seen it used to refinance across lending markets already. In one transaction, a borrower drew approximately $1M USDS from SparkLend, converted it into USDC and used it to repay debt elsewhere, moving the WBTC collateral to SparkLend.

Collateral supply has grown alongside borrowing. Supplied WETH increased 18.6% and cbBTC 44.7% over the last 30 days, with asset repricing accounting for only around 10% of the $550M increase.

SparkLend is lending at greater scale against a larger collateral base than other major lending protocols, and probably has the best rates in the market.

SparkLend rates: https://t.co/2NqMjCerWS

[Sam MacPherson @hexonaut]

SparkLend TVL is approaching ATHs, up 35% in the last month alone.

This is when prices are still down. In ETH terms, the market has nearly tripled in size since April.

Expecting some explosive growth when the market returns.

[Lama @yieldlama]

Governance approves venues and sets allocation limits. The ALM Controller enforces those limits at execution, giving institutions defined boundaries to assess before committing capital.

[Spark @sparkfinance]

The Spark Liquidity Layer is once again the largest on-chain capital allocator by TVL on @DefiLlama.

The Liquidity Layer holds $2.56B, roughly 27% of the category’s ~$10B in TVL. Its supported integrations span on-chain lending markets and stablecoin pools, OTC execution desks, and tokenized treasuries.

Governance approves venues and sets limits on capital movement. The ALM Controller enforces those limits when executing allocations.

The Spark Liquidity Layer can increase allocations within existing limits while adding new venues requires governance approval.

Source: https://t.co/8jDrFSDVMG

[Lama @yieldlama]

$40,000,000 of USDT flowed into @sparkfinance Savings in three days.

earn now: https://t.co/uyhl1OTZwv

[Spark @sparkfinance]

New Earnings Rate: USDT APY in Spark Savings moves up again.

APY has been increased to 3.5% from 3.25%

Deposit USDT into Savings:
https://t.co/gjvlwwDk0X

[Lama @yieldlama]

Idle stablecoin capital between trades has somewhere to sit.

@sparkfinance Savings keeps it earning while the next position is decided.

[WalleDAO @WalleDAO]

$56.51M flowed into @sparkfinance’s spUSDC V2 in under 40 minutes. A related wallet later moved ~$10M from legacy sUSDC V1 to Hyperliquid before opening an ETH long.
A case study of capital moving between market exposure and onchain yield. https://t.co/VGMUTDvL0M

[Lama @yieldlama]

@timzz_sleep backed by Spark and Sky's roughly 3.9 billion dollar USDC reserve. 💪💪💪

[Lama @yieldlama]

👀 “RLUSD expands the Stablecoin FX layer on @Uniswap V4, with RLUSD/USDS processing more than $600M in its first week, and @sparkfinance supported USDS pairs accounting for over 50% of Ethereum stable-to-stable volume on Uniswap during August.”

[Spark @sparkfinance]

RLUSD Expands Liquidity and Distribution Through the Spark Stablecoin FX Layer

@Ripple’s RLUSD joins Sparks Stablecoin FX Layer: the liquidity network that has processed more than $10B in cumulative volume since launching on 25th June 2026.

Joining Paypal’s PYUSD and Tethers USDT, RLUSD expands the Stablecoin FX layer on @Uniswap V4, with RLUSD/USDS processing more than $600M in its first week, and Spark supported USDS pairs accounting for over 50% of Ethereum stable-to-stable volume on Uniswap during August.

Together with @SentoraHQ, RLUSD expands the FX Layer’s shared liquidity network, connecting stablecoins through USDS while enabling liquidity to remain productive when not required for swaps.

More stablecoins. Deeper shared liquidity. More efficient capital.

Explore the Spark Stablecoin FX Layer: https://t.co/GYfHKFfbm2 (published June 25, 2026)

[Sam MacPherson @hexonaut]

Ripple RLUSD is the latest addition to the Stablecoin FX Layer, which is already around 50% of Uniswap stable-stable swap volume.

[Spark @sparkfinance]

RLUSD Expands Liquidity and Distribution Through the Spark Stablecoin FX Layer

@Ripple’s RLUSD joins Sparks Stablecoin FX Layer: the liquidity network that has processed more than $10B in cumulative volume since launching on 25th June 2026.

Joining Paypal’s PYUSD and Tethers USDT, RLUSD expands the Stablecoin FX layer on @Uniswap V4, with RLUSD/USDS processing more than $600M in its first week, and Spark supported USDS pairs accounting for over 50% of Ethereum stable-to-stable volume on Uniswap during August.

Together with @SentoraHQ, RLUSD expands the FX Layer’s shared liquidity network, connecting stablecoins through USDS while enabling liquidity to remain productive when not required for swaps.

More stablecoins. Deeper shared liquidity. More efficient capital.

Explore the Spark Stablecoin FX Layer: https://t.co/GYfHKFfbm2 (published June 25, 2026)

[Lama @yieldlama]

$9.4B now ⚡️

Less than a week after $8B and already up $1.4B. this is wild

[Spark @sparkfinance]

Update: Spark's Stablecoin FX Layer has recorded over $8B in pool activity since launch.

Pool activity reached ~$4.7B in the second month after launch, following $3.33B in the first month.

The FX Layer currently runs across a number of @Uniswap v4 pools ➡️ USDS/USDT and PYUSD/USDS with more to come.

The FX Layer will be expanding.

🦄 x ⚡️

[Lama @yieldlama]

Borrowing USDT at a 3.58% APY is currently the cheapest option across the major lending protocols.

BORROW USDT = SPARKLEND

[Spark @sparkfinance]

USDT borrow rate on SparkLend is 3.58%.

That's 75 bps cheaper than the next major lending protocol.

$324M in USDT is already borrowed on SparkLend.

Borrow USDT now → https://t.co/AatpPEdA8Q

[Lama @yieldlama]

Spark Borrow covers eth mainnet and additional chains from one place.

SparkLend runs multi collateral on mainnet.

Isolated Markets runs single collateral elsewhere, each carrying its own parameters.

[Spark @sparkfinance]

Spark Borrow brings SparkLend and Spark Isolated Markets into one view.

A borrowing market runs on shared market conditions, or on conditions set for that market alone. That choice sets what a position is exposed to.

SparkLend supports cross-collateral borrowing on Ethereum mainnet, where several assets back a single position.

Spark Isolated Markets are single-collateral markets on additional chains, with parameters defined for each market, powered by @Morpho infrastructure and curated by Spark.

The single view is an interface change. Under Spark governance review, Spark keeps the collateral and risk frameworks apart market by market.

Visit our new Borrow experience: https://t.co/OdPHETDyeM

[Lama @yieldlama]

@SkyMoney @sparkfinance awesome UX

[Spark @sparkfinance]

August was another busy month for Spark with updates across borrow markets, Savings, stablecoin execution, and product extensions.

Spark Savings USDT vault APY increased to 3.25%.

SparkLend supply set all time highs in two collateral assets, wstETH passing $3B and WBTC reaching a record balance.

Isolated Markets became accessible directly through Spark, single collateral lending markets with market specific risk parameters, powered by @Morpho, and curated by Spark. Additionally https://t.co/TKIQnuHJBX became our new official domain.

The Stablecoin FX Layer passed $8B in pool activity across @Uniswap v4 since launch.

Here's the 2026 August recap. ⚡️

[Lama @yieldlama]

$8B? the moment Spark actually sparks.

Fast, no cap. ⚡️

[Spark @sparkfinance]

Update: Spark's Stablecoin FX Layer has recorded over $8B in pool activity since launch.

Pool activity reached ~$4.7B in the second month after launch, following $3.33B in the first month.

The FX Layer currently runs across a number of @Uniswap v4 pools ➡️ USDS/USDT and PYUSD/USDS with more to come.

The FX Layer will be expanding.

🦄 x ⚡️

[Lama @yieldlama]

@benln Seoul please