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Earning Savings

Spark enables users to easily deposit stablecoins into Savings Vaults, and receive Savings Tokens, representing your share of deposits in the Savings Vaults. As savings accrue, Savings Tokens increases in value over time against the underlying deposit asset.

Savings Vaults

Spark currently supports the following Savings Vaults:

Tutorial

Deposit Savings

  1. Make sure you are connected to the network you wish to use.
  2. To earn yield on your stablecoins such as USDS, DAI, and USDC, navigate to the Savings page, which is the front page of app.spark.fi.

Savings Page

  1. If you have stablecoins in your wallet, the UI will show you the savings opportunity based on your holdings. It shows the current Sky Savings Rate (SSR), a 30 day projected savings and a 1-year projected savings.

  2. To deposit stablecoins, you navigate to the Stablecoins in wallet section, which displays the stablecoin holdings in your wallet, and click on the deposit button for the asset you wish to deposit.

  3. In the deposit window you specify the stablecoin (dropdown) and amount (input) you wish to deposit.

    In the Transaction Overview it will show the APY, the route (if not using USDS, how tokens are swapped, before being deposited), and the final outcome of the deposit. To finalize the deposit you must execute the transactions in the Actions section.

Depositing USDS, and receiving sUSDS

Note: If you deposit other stablecoins than USDS, they will be swapped for USDS before being deposited into Savings. The swap route is shown in the Transaction Overview. This swap uses non-custodial Sky smart contracts, and is not facilitated or in any way custodied by Spark.

The following example showcases a USDC deposit:

Depositing USDC into Savings

  1. Once you have done all the necessary transactions, the specified amount of assets will be deposited and you will receive Savings USDS (sUSDS) tokens in return.

Confirmation Savings Deposit

  1. The sUSDS tokens represents your share of USDS deposited the Sky Savings Rate. You need the sUSDS tokens to withdraw accrued savings in the future, so keep the tokens safe.

Withdraw Savings

  1. When you wish to withdraw accrued savings, you simply click on the withdraw button in the Savings USDS window. In the withdraw window you specify the asset and amount you wish to withdraw. To finalize the withdrawal you must execute the transactions in the Actions section.

Withdraw from Savings

Withdraw from Savings

Note: If you withdraw USDC from Savings, USDS will be swapped for USDC using the Sky PSM after being withdrawn from Savings. The Sky PSM does not incur any slippage or fee beyond gas. The swap route is shown in the Transaction Overview. This swap is possible as long as there is liquidity in the Sky PSM. This swap uses non-custodial Sky smart contracts, and is not facilitated or in any way custodied by Spark.

The following example showcases a USDC withdrawal:

USDC withdrawal from Savings

  1. Once you have done all the necessary transactions, the specified amount of USDS will be transferred to your wallet in exchange for sUSDS tokens.

Confirmation: Withdrawal from Savings