SparkLend’s ETH borrow market is currently operating below broader market borrowing rates. Current conditions: • ETH borrow rate: ~1.84% • $743M borrowed • 70% utilization • 90% kink utilization This is a function of how the market is parameterized. The variable borrow rate at the kink tracks the 2-day average stETH yield minus 10bps, aligning borrowing conditions more closely with ETH staking dynamics. As long as utilization remains below the kink, the market avoids the aggressive rate escalation seen in high-utilization environments. The goal isn’t temporary rate competition. It’s scalable ETH-denominated credit infrastructure with more predictable liquidity conditions. Borrow here -

SparkLend’s wBTC deposit cap is increasing from 3,000 to 30,000 wBTC. Since launch, the initial cap has been nearly fully utilized. Demand for BTC-backed borrowing on a second on-chain venue was real, and it came fast! This increase is managed through the cap automator mechanism. In practice, new capacity will open at up to 500 WBTC every 12 hours, scaling exposure gradually rather than all at once. Put your wBTC to work on SparkLend. 👇

SparkLend is now the largest wstETH holder in the world! SparkLend is the largest and most liquid venue for ETH looping, e-mode enabled for wstETH collateral exclusively. See more here: