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's 30-day inflows reached $2.1B, ranking #2# across the entire industry. 🎉 This places Spark second only to OKX ($2.461B) among all exchanges and protocols — including every major CEX.

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:

Notice on SparkLend: BTC efficiency mode will be deprecated. Spark will deprecate BTC efficiency mode on SparkLend as part of ongoing risk management. The change is expected to take effect on June 4. Any positions borrowing cbBTC using LBTC or cbBTC as collateral that remain open after that point will be subject to forced liquidation on June 8. If you have an open BTC efficiency mode position on SparkLend, please close it by June 7. This notice applies to BTC efficiency mode only. All other SparkLend markets and positions are unaffected by this change. BTC efficiency mode deprecation timeline: June 4 — BTC efficiency mode deprecated June 8 — Remaining positions liquidated This notice is issued in advance to give all affected users time to act.

Over 2,748 wBTC supplied as collateral on SparkLend since its March launch. What stands out is the pace. That supply moved in within three days, as borrowers refinanced existing BTC backed positions into SparkLend. The number reflects what the market was already signalling. BTC backed borrowing demand was never the constraint. It was the absence of venues built to handle it, and when Spark built one, capital followed. Borrow & Lend here -