Total Value Locked$2.744b
TVL by Chain
Ethereum$2.448b
Base$284.71m
Arbitrum$10m
OP Mainnet$992,998
Unichain$39,989
Avalanche$0.16
Robinhood Chain$0
X Layer$0
Key Metrics
Fees 30d$13.23m
Fees 30d by chain
Ethereum$13.23m
Fees 7d$3.11m
Ethereum$3.11m
Fees 24h$388,568
Ethereum$388,568
Cumulative Fees$186.69m
Ethereum$186.69m
Revenue 30d$402,627
Revenue 30d by chain
Ethereum$608,232
Revenue 7d$168,031
Ethereum$193,128
Revenue 24h-$13,195
Ethereum$0
Cumulative Revenue$11.58m
Ethereum$15.43m
Holders Revenue 30d$0
Holders Revenue 30d by chain
Ethereum$0
Holders Revenue 7d$0
Ethereum$0
Holders Revenue 24h$0
Ethereum$0
Cumulative Holders Revenue$0
Ethereum$0
Protocol Information
The Spark Liquidity Layer (SLL) automates liquidity provision of USDS, sUSDS, and USDC directly from Sky across various blockchain networks, DeFi protocols, and RWA
Audits:
Methodology
TVL: Counts the assets held by the Spark Liquidity Layer allocators (ALM Proxy, freezable ALM Proxy and PSM3) on each chain. Sky-minted USDS, sUSDS and DAI are excluded, and their SparkLend and Morpho positions are counted only to the extent third parties have borrowed against them; other supplied assets such as PYUSD, USDT and USDC are counted in full. spWETH is excluded as it backs Spark Savings ETH, which is counted under spark-savings. The Anchorage custody allocation is sourced off-chain.View code on GitHubFees: Yield the Spark Liquidity Layer earns on the USDS it borrows from Sky (its parent ecosystem) and deploys into lending markets, vaults and pools, after each venue's own cut (for SparkLend, its reserve factor).View code on GitHubRevenue: That yield minus the base rate Spark pays Sky for the borrowed USDS, plus the monthly rebate on idle USDS.View code on GitHubHolders Revenue: View code on GitHubCompetitors
Spark Liquidity Layer history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Apr 3, 2025 to Nov 9, 2026.
All-time high TVL: $4.551b on Jul 27, 2025. All-time low TVL: $1.447b on Mar 13, 2026.
Daily TVL, Oct 11, 2026 to Nov 9, 2026
| Date | TVL |
|---|---|
| Oct 11, 2026 | $2.68b |
| Oct 12, 2026 | $2.666b |
| Oct 13, 2026 | $2.823b |
| Oct 14, 2026 | $2.805b |
| Oct 15, 2026 | $2.813b |
| Oct 16, 2026 | $2.813b |
| Oct 17, 2026 | $2.808b |
| Oct 18, 2026 | $2.801b |
| Oct 19, 2026 | $2.767b |
| Oct 20, 2026 | $2.731b |
| Oct 21, 2026 | $2.715b |
| Oct 22, 2026 | $2.751b |
| Oct 23, 2026 | $2.747b |
| Oct 24, 2026 | $2.741b |
| Oct 25, 2026 | $2.729b |
| Oct 26, 2026 | $2.691b |
| Oct 27, 2026 | $2.713b |
| Oct 28, 2026 | $2.728b |
| Oct 29, 2026 | $2.697b |
| Oct 30, 2026 | $2.703b |
| Oct 31, 2026 | $2.712b |
| Nov 1, 2026 | $2.639b |
| Nov 2, 2026 | $2.698b |
| Nov 3, 2026 | $2.733b |
| Nov 4, 2026 | $2.841b |
| Nov 5, 2026 | $2.908b |
| Nov 6, 2026 | $2.925b |
| Nov 7, 2026 | $2.812b |
| Nov 8, 2026 | $2.745b |
| Nov 9, 2026 | $2.743b |
TVL at each month end, Apr 2025 to Nov 2026
| Date | TVL |
|---|---|
| Apr 30, 2025 | $2.206b |
| May 31, 2025 | $3.152b |
| Jun 30, 2025 | $3.573b |
| Jul 31, 2025 | $3.585b |
| Aug 31, 2025 | $2.86b |
| Sep 30, 2025 | $3.224b |
| Oct 31, 2025 | $3.063b |
| Nov 30, 2025 | $2.484b |
| Dec 31, 2025 | $1.966b |
| Jan 31, 2026 | $1.825b |
| Feb 28, 2026 | $1.712b |
| Mar 31, 2026 | $1.984b |
| Apr 30, 2026 | $1.999b |
| May 31, 2026 | $2.342b |
| Jun 30, 2026 | $2.001b |
| Jul 31, 2026 | $1.712b |
| Aug 31, 2026 | $2.016b |
| Sep 30, 2026 | $2.632b |
| Oct 31, 2026 | $2.712b |
| Nov 9, 2026 (latest) | $2.743b |
Fees, revenue and holders revenue by UTC calendar month, Apr 2025 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Apr 2025 | $932,485 | -$75,270 | $0 |
| May 2025 | $5.02m | $361,104 | $0 |
| Jun 2025 | $7.37m | $49,678 | $0 |
| Jul 2025 | $11.52m | $1.57m | $0 |
| Aug 2025 | $15.61m | $3.45m | $0 |
| Sep 2025 | $15.71m | $3m | $0 |
| Oct 2025 | $14.66m | $1.32m | $0 |
| Nov 2025 | $11.83m | $122,342 | $0 |
| Dec 2025 | $10.24m | $979,024 | $0 |
| Jan 2026 | $8.35m | $1.13m | $0 |
| Feb 2026 | $7.24m | $598,005 | $0 |
| Mar 2026 | $7.66m | $219,530 | $0 |
| Apr 2026 | $9.68m | -$443,337 | $0 |
| May 2026 | $11.1m | -$809,805 | $0 |
| Jun 2026 | $9m | -$580,335 | $0 |
| Jul 2026 | $7.21m | $280,508 | $0 |
| Aug 2026 | $7.24m | -$53,220 | $0 |
| Sep 2026 | $9.65m | $85,883 | $0 |
| Oct 2026 | $13.13m | $186,970 | $0 |
| Nov 2026 (to date) | $3.53m | $173,552 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/spark-liquidity-layer
Frequently asked questions
What is Spark Liquidity Layer's TVL?
As of Nov 9, 2026, Spark Liquidity Layer has $2.744b in total value locked. TVL has increased 3% over the past 30 days.
What chains does Spark Liquidity Layer operate on?
Spark Liquidity Layer operates on 8 chains: Ethereum, Base, Arbitrum, OP Mainnet, and Unichain and 3 others. Ethereum holds the largest share at 89.2%.
How much has Spark Liquidity Layer generated in fees and revenue?
Over the past 30 days, Spark Liquidity Layer generated $13.23m in fees. Of that, $402,627 was protocol revenue. Based on the trailing year, the annualized rate is $112.78m in fees and $2.08m in revenue.
How does Spark Liquidity Layer's TVL compare to similar protocols?
Among Onchain Capital Allocator protocols tracked by DefiLlama, Spark Liquidity Layer ranks #1 by TVL. The category holds $8.805b across 86 protocols, and Spark Liquidity Layer accounts for 31.2% of that total. Similar protocols include Lagoon, IPOR Fusion, D2 Finance, Rigoblock, Veda, Grove Finance, Aera V3, Spectra MetaVaults, Spectra MetaVaults Outside V2, and Mitosis.