Spark

Spark is a decentralized finance (DeFi) protocol that functions as an on-chain capital allocator, designed to address issues of fragmented liquidity and unstable yields in the crypto market. The platform deploys capital, reported at over $3.8 billion, across various DeFi protocols, centralized finance (CeFi), and real-world assets (RWAs) to optimize yield on stablecoins.

The Spark ecosystem is built upon three main product categories: Spark Savings, SparkLend, and the Spark Liquidity Layer (SLL). Spark Savings allows users to deposit stablecoins like USDC and USDS to earn yield, receiving composable yield-bearing tokens in return. SparkLend is a lending protocol with rates defined by governance, providing transparent borrowing conditions. The SLL is the backend infrastructure that automates the deployment of capital across multiple blockchain networks—including Ethereum, Base, Optimism, and Arbitrum—to maximize returns and provide consistent liquidity.

The protocol was spun off from MakerDAO as a subDAO, part of Maker's "Endgame" structure, which allows it to operate with more autonomy. Sam MacPherson, the co-founder of Phoenix Labs, also serves as the head of Spark. The native token of the ecosystem is SPK, an ERC-20 token on the Ethereum blockchain. SPK serves three primary functions: governance, allowing holders to vote on protocol decisions; staking to enhance network security; and rewards for community participation.

Keywords: on-chain capital allocator, stablecoin yield, DeFi protocol, liquidity layer, real-world assets, decentralized finance, SparkLend, Spark Savings, SPK token, MakerDAO subDAO, cross-chain liquidity, yield optimization, crypto lending, stablecoin savings, governance token, asset allocation, sUSDS, sUSDC, Ethereum, CeFi