SparkLend Freezes Gnosis Chain Market Operations
SparkLend Freezes Gnosis Chain Market Operations
🔒 SparkLend Pulls Back
SparkLend has officially deprecated its Gnosis market, freezing all new deposits and borrows across the chain.
Key Changes:
- All reserves frozen across WXDAI, sDAI, WETH, wstETH, EURe, USDT, USDC.e, GNO, and USDC
- Reserve factor increased to 50% for all assets
- Existing positions remain unaffected and accessible
Rationale: The decision stems from low market usage and limited reserve revenue, prompting a strategic reduction in risk exposure.
SparkLend remains open to future collaboration with Gnosis Chain when market conditions improve.
SparkLend has deprecated the Gnosis market to reduce the overall risk surface. New deposits and borrows are now frozen across the Gnosis Chain, while existing positions remain intact. Parameter summary: • Reserves are frozen (all assets) • Reserve factor is set to 50% (all
Update on SparkLend: Phased Deprecation of Low Efficiency Assets Spark is rolling out a phased deprecation for a small set of markets and collateral assets on SparkLend to reduce tail risk exposure for users and improve capital efficiency.
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