24h Change+12.62%
All Time HighJul 23, 2025$0.18
All Time LowJun 6, 2026$0.018
Market Cap$55.42m
Fully Diluted Valuation$199.53m
Circ. Supply2.778b SPK
Max Supply10b SPK
Outstanding FDV$84.12m
CEX Volume$19.85m
DEX Volume$16.63m
Uniswap V3 · Ethereum$1.34m
Majors$783.23
Stablecoins$37.01m
Own Tokens$24.04m
Others$658.33
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | |
|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $33.84M | $39.80M | $61.05M | $67.31M | $30.66M | $30.61M | $35.03M | $22.90M |
| Borrow Interest | $9.51M | $11.14M | $19.02M | $21.73M | $15.15M | $29.93M | $34.97M | $20.44M |
| Liquidation Fees | $290.23K | $195.57K | $1.43M | $27.74K | $1.41M | $675.13K | $55.26K | $2.45M |
| Maple Yields | $817.33K | $2.13M | $9.45M | $10.58M | $2.42M | |||
| Sparklend Yields | $5.18M | $8.01M | $15.61M | $14.81M | $6.75M | |||
| Others Yields | $178.47K | $142.19K | $824.43K | $5.04M | $1.20M | |||
| Aave Yields | $471.03K | $378.55K | $83.19K | $40.51K | $153.59K | |||
| Morpho Yields | $382.36K | $247.61K | $6.31M | $14.03M | $2.90M | |||
| Curve Yields | $918.82K | $1.46M | $2.14M | $1.02M | $646.09K | |||
| Paypal Yields | $14.35M | $13.69M | $5.80M | $2.25K | $7.01K | |||
| Anchorage Yields | $1.72M | $2.38M | $347.63K | |||||
Cost of Revenue | $32.76M | $35.33M | $54.89M | $54.67M | $28.95M | $30.30M | $34.72M | $22.45M |
| Borrow Interest | $9.02M | $10.41M | $17.77M | $19.87M | $14.71M | $29.69M | $34.67M | $20.24M |
| Liquidation Fees | $261.20K | $176.15K | $1.29M | $25.14K | $1.27M | $607.62K | $49.81K | $2.21M |
| Maple Yields To Suppliers | $701.90K | $1.75M | $7.17M | $6.54M | $1.79M | |||
| Sparklend Yields To Suppliers | $5.55M | $8.06M | $16.45M | $13.96M | $6.56M | |||
| Others Yields To Suppliers | $767.03K | $123.13K | $766.42K | $3.17M | $975.70K | |||
| Aave Yields To Suppliers | $646.20K | $418.44K | $58.41K | $35.62K | $144.57K | |||
| Morpho Yields To Suppliers | $392.32K | $194.84K | $4.29M | $10.05M | $2.82M | |||
| Curve Yields To Suppliers | $884.19K | $1.24M | $1.80M | $1M | $646.09K | |||
| Paypal Yields To Suppliers | $13.50M | $11.51M | $5M | $2.12K | $6.59K | |||
| Anchorage Yields To Suppliers | $1.03M | $1.43M | $263.33K | |||||
Gross Profit | $1.07M | $4.47M | $6.16M | $12.64M | $1.71M | $312.83K | $304.96K | $444.41K |
| Borrow Interest | $497.13K | $732.49K | $1.24M | $1.86M | $443.41K | $245.33K | $299.50K | $198.67K |
| Liquidation Fees | $29.02K | $19.42K | $143K | $2.60K | $138.73K | $67.50K | $5.45K | $245.74K |
| Maple Yields To Spark | $115.43K | $375.99K | $2.28M | $4.04M | $626.82K | |||
| Sparklend Yields To Spark | -$372.04K | -$43.32K | -$837.98K | $853.68K | $189.14K | |||
| Others Yields To Spark | -$588.56K | $19.06K | $58.01K | $1.86M | $226.51K | |||
| Aave Yields To Spark | -$175.17K | -$39.90K | $24.77K | $4.88K | $9.02K | |||
| Morpho Yields To Spark | -$9.95K | $52.76K | $2.02M | $3.97M | $78.88K | |||
| Curve Yields To Spark | $34.63K | $223.51K | $342.83K | $29.10K | $0 | |||
| Paypal Yields To Spark | $857.60K | $2.18M | $800.75K | $128 | $411 | |||
| Anchorage Yields To Spark | $690.94K | $956.13K | $84.29K | |||||
Incentives | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Earnings | $1.07M | $4.47M | $6.16M | $12.64M | $1.71M | $312.83K | $304.96K | $444.41K |
Token Holder Net Income | $785.22K | $487.03K | $0 | $0 | $0 | $0 | $0 | $0 |
| Token Buy Back | $785.22K | $487.03K |
Risk-management actions published about SPK by tracked risk managers and governance contributors, newest first.
Affiliated entities own 75% of SPK Token Rewards, contributing to the $2.55B total and underscoring elevated counterparty risk from Justin Sun's influence over a significant portion of rewards distribution.
Parameter changes increase the standard buyback rate from 10% to 25% of net protocol revenue and add a buyback recipient option, allowing faster deployment of excess reserves to purchase SPK and enhance token demand.
Spark reported Q3 net profit of $12.1M with a low P/E ratio of 7x on $350M FDV, driven by diversified yields from lending and vaults, indicating the protocol is undervalued relative to its strong fundamentals and growth potential in the expanding stablecoin sector.
SPK farms parameters were assessed and confirmed correctly configured per Atlas, including vest-related settings in the Technical Scope review for Spark.
All SPK and other Star Token rewards originally for Seal Engine are redirected to Activation, boosting incentives for SKY holders to participate without exit fees.
SPK is the native governance and staking token of Spark. SPK enables protocol governance, protocol security via staking, and reward distribution to participants.
SPK is the governance token of Spark. SPK is used for signaling and sentiment checks via Snapshot voting. SPK holders can participate in all governance decisions affecting the protocol
SPK holders can vote directly, delegate voting power and participate in all governance decisions
All Spark protocol revenues flow to Spark DAO treasury, under the control of SPK holders
Revenues flow to the DAO treasury, and excess value is periodically transferred to an executor to be used to buy back SPK.
Value accrues through buybacks.
All revenue flows to the DAO. There is no value flow from the DAO to Foundation or Labs other than publicly disclosed opex and SPK token grants. Labs does not plan to launch any additional tokens.
Protocol revenue comes from reserve factors (SparkLend), rate spreads (Savings), and net margins (Liquidity Layer), these flow directly to the DAO treasury and to SPK buybacks.
Excess value is periodically transferred to an executor to be used to buy back SPK using USDS.
No dividend or revenue distribution is currently active
No burn mechanism is currently active
An is required to view token usage.
An is required to view token unlocks.
Tracking 4 pools, average APY 13.47%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDC-SPK1.00% | $425,950 | 0.05% | 0.05% | 24.54% | |||||
| open in new tabUSDC-SPK0.01% | $420,872 | 0% | 0% | 0% | |||||
| open in new tabETH-SPK0.30% | $390,303 | 34.20% | 34.20% | 18.10% | |||||
| open in new tabWSOL-SPKStandard - 1.5% | $48,505 | 19.62% | 19.62% | 253% |
