Sparkly debit cards. Bitcoin. $500 loans. Cash App is piling on the reasons to make it your main financial app. Will it work? Read the full story: 📷: Block

SPARKLEND HAS $11.95M IN $USDT FOR WITHDRAWALS WITH 96% BORROWED On Oct. 29, @sparkfinance’s Ethereum market held 322M USDT in deposits. Larger exits require borrower repayments or fresh liquidity. Read more here:

Spark supplies nearly a quarter of the USDC in a @Morpho cbBTC/USDC market on @base. The market currently has $1.8B USDC in total supply, with Spark providing more than $400M USDC. Borrowers post cbBTC as collateral to access USDC financing while retaining BTC exposure. The Spark Liquidity Layer provides this capital through the Spark USDC vault, which Spark curates. Borrower interest is reflected in the value of the vault shares the SLL holds. Spark can adjust this allocation as borrowing conditions change. Governance sets how much capital can move within a given period, while the vault's supply cap limits allocations to this market.

Spark made more than $4M in net protocol returns in Q3. Every month of 2026, Spark's revenue model kept working. And 2026 has been a hard year. DeFi lending spreads compressed sharply in the first half, and the margin on lent capital went negative in Q2. But the machine kept going through all of it. Here’s why: → More than one way to earn: Spark earns from several sources, so when one gets squeezed the business holds. → The Spark Liquidity Layer: Spark borrows from @SkyEcosystem at a base rate and deploys that capital across DeFi, keeping the difference. Spark Savings USDT deposits run through it too. After a planned push to grow Savings USDT, returns moved back above funding costs in Q3. → Risk first: capital only goes to approved venues, with caps on how much can move and how fast. Capital is held against risk, and liquidity stays ready for withdrawals. → More ways in: Savings now runs on more chains and stablecoins, including through @okx and USDT0 on @Arbitrum. → New products: the Stablecoin FX Layer, built with @Uniswap and Sky, launched with $150M in USDS liquidity so banks, fintechs and payment companies can swap between stablecoins through one shared pool. Trade volume passed $14B in the first month. That’s what battle tested means. Several engines, all built to keep earning when conditions turn. Narratives rotate. Most fade. What lasts is the protocol still earning when attention moves on. Nine months into 2026. Still earning.

Spark Savings USDT outpaced major DeFi protocols in USDT deposit growth over the past week. USDT deposits have now well surpassed $700M, up approximately 47%. Savings USDT vault currently offers 3.75% APY with yield accruing automatically to the USDT value of each savings position. Through the Spark Liquidity Layer, capital is allocated across governance approved venues. Spark can adjust those allocations as opportunities and liquidity needs change. Depositors can access different sources of yield through a single savings position, without having to move funds between protocols themselves. Deposit USDT into Savings:

Spark replenishes USDS liquidity in SparkLend after large borrows. In the past 90 days, SparkLend recorded 222 borrows of at least 5M USDS. In 88% of cases, the borrow rate returned to no more than 0.1bp above its pre-borrow level within two minutes. Spark Liquidity Layer supply closed the gap in all but three cases. Borrower repayments closed the other three. Borrows of at least 10M USDS followed a similar pattern. 84% recovered within two minutes, with a median recovery time of 60 seconds. A large draw can push up costs for other borrowers in the same market until new supply or repayments lower utilization. Spark allocates capital against target rates, within configured limits. For institutions and other large borrowers, Spark’s allocation layer helps bring borrowing costs back down after a large draw.