Spark USDC

Spark USDC (spUSDC) is a Spark Savings V2 Vault that utilizes the Spark Liquidity Layer to generate yield through different yield-generating strategies. The spUSDC token enables users to receive returns while still being able to transfer, stake, lend and use it in any way they want. You can find an overview of supported networks and token addresses below.

spUSDC increases in value over time, as its USDC denominated value gradually increases. spUSDC is an accumulating token, not a rebasing token.

How it works

• 90% of deposits are allocated through the Spark Liquidity Layer into yield-generating strategies
• The remaining 10% stays in the contract as liquidity for instant withdrawals
• The Spark Liquidity Layer ensures there is always ample liquidity for deposits and withdrawals

Yield Source

The vault rate is anchored to the Sky Savings Rate as a minimum rate. Deposits are deployed through the Spark Liquidity Layer (SLL), which leverages the Sky Savings Rate as a base and can deploy into additional accepted strategies to optimize yield above this minimum. The vault rate is variable based on market dynamics and the underlying yield strategies.

Rates are managed by Spark Governance based on market conditions and updated periodically.

You can always find the current rate on the Savings page in the Spark App.

Liquidity

The Spark Liquidity Layer ensures sufficient liquidity for deposits and withdrawals. When using the Sky PSM for USDC/USDS swaps, there is no slippage beyond gas fees.

Acquiring spUSDC

To acquire spUSDC you can deposit USDC and other supported stablecoins into the Spark USDC Vault using the Spark App. See the Earning Savings for a guide on how to deposit.

Supported Networks and Token Addresses

Integrating Savings Vaults

For technical documentation on the spUSDC implementation and how to integrate please refer to the Spark Vaults V2 Developer Documentation.