SparkLend Growth Report - March 2024
SparkLend Growth Report - March 2024
馃殌 SparkLend Hits New Milestone
SparkLend on Ethereum Mainnet continues to show significant growth in Q1 2024:
- Total supplied assets reach $5.86 billion
- Available liquidity stands at $4.15 billion
- Borrowings total $1.72 billion
Notable milestone: ETH/WETH becomes the third asset to surpass $1 billion in supplied value.
This represents substantial growth from late 2023, when supplied assets were around $5 billion with $3.22 billion in liquidity.
Visit the BA Labs dashboard for real-time metrics: spark.blockanalitica.com
weETH is climbing up the ranks on Spark! @ether_fi's weETH has surpassed WBTC to become the fourth-largest asset deposited on SparkLend on Ethereum Mainnet, highlighting Spark鈥檚 users' growing demand for ETH-based collateral.
Spark Savings Now Accepts USDT Deposits
Spark Savings has integrated USDT deposits, allowing users to earn yields by directly converting USDT to USDS. The streamlined process takes approximately 60 seconds: - Visit [app.spark.fi](http://app.spark.fi) - Connect wallet on Ethereum Mainnet - Select USDS and click Deposit - Choose USDT from dropdown - Enter amount and set slippage - Approve deposit and conversion **Key Benefits**: - No manual token swaps required - Competitive yield rates - Simple deposit process - Withdraw anytime to USDC, USDS, or DAI
USDS Markets on Pendle Finance Show Significant Growth
Pendle Finance's USDS markets experienced substantial growth, with approximately $15M added in just 3 days. This increase has pushed the total USDS TVL (Total Value Locked) to $66 million, marking a significant milestone for the platform. The growth trajectory has been notably strong, with TVL crossing $20M in a two-week period. - Current TVL: $66 million - Recent addition: ~$15M in 3 days - Platform growth: $20M+ in 2 weeks For real-time market data, visit [Pendle Finance USDS Markets](https://app.pendle.finance/trade/markets?search=usds)
Spark Launches DeFi Capital Allocator Alternative to Traditional Banking
Spark has launched as a decentralized alternative to traditional banking, offering savings, borrowing, and lending services. Key differentiators: - Returns yields directly to users - Full transparency by design - User-centric vs profit-driven approach The platform programmatically allocates capital across DeFi protocols to optimize liquidity and capital efficiency. Current metrics: - $3.95B total value locked - 4.5% APY (6.25% 30-day average) - Available on Base, Arbitrum, and Ethereum - Supports $USDS & $USDC Features include no lockups, zero fees, and instant withdrawals. Try it at [Spark.fi](http://spark.fi)
Spark Data Hub: Your Resource for SNAPS Content Creation
Spark has launched a comprehensive data hub at [data.spark.fi](http://data.spark.fi) to help users create better content for the SNAPS program. Key features: - Protocol statistics - Pre-farmed SPK data - Leaderboard optimization tools **Pro Tips for SNAPS Success**: - Focus on quality over quantity - Share authentic Spark experiences - Use strategic tagging - Create smart, relevant humor - Earn 10% rewards through referrals *Remember*: The algorithm rewards meaningful engagement, not spam. Access the hub to improve your SNAPS strategy.
Spark SNAPS Campaign Launch
The Spark SNAPS campaign has officially launched, introducing an exciting new way to engage with the Sparkverse ecosystem. Key Updates: - Spark Points system is now active - SNAPS campaign leaderboard is live and competitive - Users can earn points through mission completion How to Participate: - Join the Sparkverse - Complete available missions - Earn points to climb the ranks - Compete for SNAPS rewards Start your journey in the Sparkverse and begin earning rewards today.