Trust-building journey & 信任之旅 ❤ One year has passed since @sparkfinance joined the Ethereum Hong Kong Hub @ethereumhkhub as a member. The idea from day one was simple: build trust, collect feedback, and improve every corner of the Spark protocol — not just on-chain, but in a physical space too. Over the past year, we’ve addressed countless questions from our users and shaped our product around their feedback. — Users asked about SPK’s utility. Spark began buying back SPK in March 2026, 9 months after our TGE in June 2025 — and going forward, all protocol revenue will go toward buybacks. — Users wanted more direct communication with the team. Spark now holds regular community calls to talk directly with users and answer questions in real time. — Institutions asked for a fixed-rate product. Spark launched our institutional lending line, letting institutions post collateral through Anchorage to borrow stablecoins at a fixed rate. I keep coming back to one question: what matters most in a post-AI/AGI world? My answer is trust. Trust between people, trust between users and protocols — trust is the real consensus mechanism. Trust isn’t built overnight, and it isn’t a short-term game. But Spark will keep building it, together with you.

SparkLend’s lending market continues to operate as usual — USDS/USDC borrowing rates remain stable at 4.41%, and borrowing volume keeps growing. A few risk management details worth sharing: 1) SparkLend doesn’t support stablecoins as collateral for borrowing other assets. This means a hacker can’t use a freezable asset as collateral to swap into a non-freezable one. 2) SparkLend borrowing has built-in rate limits. For example, if a hacker tried to borrow ETH, they’d be capped at 10,000 ETH every 4 hours. Low-risk DeFi & stay safe. @sparkfinance

SparkLend's USDT borrow rate is 3.58% APY. Unlike other lending protocols, Spark itself functions as an on-chain liquidity manager — dynamically rebalancing capital allocation across venues based on market conditions and strategic priorities, which allows it to actively stabilize borrow rates. Rate stability on SparkLend is one of Spark's highest priorities. When liquidity anomalies cause rate volatility, Spark deploys the Spark Liquidity Layer (SLL) to rebalance. Currently, the SLL has allocated $1.12B into SparkLend: - USDS: $459M - USDT: $357M ... Additionally, Spark & Sky have $3.9B in USDC reserves and support 1:1 USDS/USDC swaps — meaning users can also borrow USDS or USDC on SparkLend at comparably stable rates!

Stablecoin yield is evolving fast. Users are no longer just chasing returns. They want transparent, sustainable, and institutional-grade onchain yield. Join today’s AMA hosted by @MariaV54 with guest @hexonaut, CEO & Co-founder of Phoenix Labs and core contributor behind @sparkdotfi, to explore how Spark is powering the next generation of onchain savings. 🎁 $200 for 10 winners who 🔹 Follow @Gate & @sparkdotfi 🔹 Like & RT 🔹 Join the AMA 🗓 May 14, 1:30 PM UTC See you there:

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.

BOJ just did 3 FX interventions in 5 days. Yen is still sliding. July or August in Japan is looking cheap. USD/JPY could hit 170 or even higher? While you wait — put your USDT, USDC, and USDS to work in Spark Savings. Earn 2.50% to 3.65% risk-adjusted APY. Your stablecoins should be earning while the yen falls.

Stablecoins solve two core problems: expanding the individual buyer base for U.S. Treasuries & enabling frictionless cross-border capital flows. Stage 1 — Total stablecoin supply hits $3T by 2028, with a wave of competing issuers entering the market. Stage 2 — A full ecosystem builds on top: lending, yield products, and more. The dollar swallows everything. Stages 1 & 2 aren't sequential, they'll most likely develop in parallel. One key risk to watch: U.S. deficit dynamics. So I'm anchoring this timeline to pre-2030 for now. My piece from last year on the dollar, Treasuries & stablecoins & DeFi: