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.