Last Call for Pendle Points Season 1

Spark has launched an improved swap page offering **1:1 stablecoin swaps** with zero platform fees and no slippage. **Key Features:** - Swap USDS, DAI, and USDC at fixed 1:1 rates - No platform fees (only gas costs) - No slippage regardless of swap amount **Two-Step Strategy for Large USDS Borrowing:** 1. Use ETH, wstETH, or cbBTC as collateral to borrow USDS at **5.54% rates** 2. Convert borrowed USDS to USDC via the new swap page The upgrade builds on Spark's existing PSM-powered stablecoin swap functionality, maintaining the same fee-free structure while improving user experience. [Try the new swap interface](https://app.spark.fi/swap)

**Spark launches new USDC vault** targeting blue-chip collateral like wstETH and cbBTC on Ethereum. The vault leverages Spark's **Liquidity Layer** to automatically allocate USDC across optimal lending opportunities on Morpho. **Key highlights:** - Spark operates two of the largest vaults with **$1B+ combined deposits** - Builds on existing Spark Savings and SparkLend offerings - Supports institutional adoption with cross-chain infrastructure The platform bridges traditional and decentralized finance, helping institutions access on-chain lending markets. [Access the vault](https://app.morpho.org/ethereum/vault/0x56A76b428244a50513ec81e225a293d128fd581D/spark-blue-chip-usdc-vault)

Spark Protocol introduces three ways to earn yields in 2025: - **SPK Farm**: Users can supply USDS to earn SPK token rewards - **SPK Staking**: Participants stake SPK tokens to earn points and future protocol rewards - **Pendle Campaign**: Holders of PT/YT-USDS earn Spark Points (campaign ends August 12) All features are accessible through [Spark's app interface](http://app.spark.fi). For detailed information and documentation, visit [Spark's MICA page](http://spark.fi/mica). *Note: This offering has not been reviewed by EU regulatory authorities.*

Traditional banking systems continue to face criticism for: - Requiring permissions for personal fund access - Lacking default transparency - Operating with user value extraction models Spark emerges as a decentralized alternative, aiming to address these limitations in traditional banking infrastructure. The protocol integrates with the DAI ecosystem to provide permissionless financial services. *Key Differentiators*: - Direct user control over funds - Default transparency - User-centric value model - Decentralized architecture