Spark wstETH is a lending market on SparkLend, an Aave V3 fork operating within the Sky (formerly MakerDAO) ecosystem on Ethereum. Yield is generated from lending interest paid by borrowers who use wstETH as collateral.
AUM
$2b
Net APY
0%
Active Users
567
Type
Lending
Network
Ethereum
BB+
Elevated RiskCeiling AA+
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CurrentPotential
This rating is based solely on publicly available information. DeFi protocol risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from BB+ to AA+ reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security94
KMPKey Management Permissions81
MMarket83
LLiquidity85
CCollateral100
PMProtocol Mechanics100
ICEInfra Counterparty Exposures100
PCEProtocol Counterparty Exposures100
GGovernance78
FRFinancial Resilience73
TLCTeam Legal Compliance91
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▲ 18.02%
$2b
Over the last 30 days, the total value of Spark wstETH has grown 18.02% with $349.29M in inflows.
Supply APY · 30D▼ 95.00%
0%
Over the last 30 days, the APY has decreased from 0.00% to 0.00%.
Active Users · 30D▲ 3.47%
567
Over the last 30 days, active users have increased by 3.47%, reaching 567 wallets.
Market Details
ChainEthereum
Treasury$61.00M
Oracles UsedAggor (Chronicle + Chainlink + RedStone) ↗
Protocol BaseAave v3
Stated Withdrawal TimeInstant
Component Ratings
Contract Addresses
Smart Contract0xC13e...6BE987
Oracle0x8105...96cFD9
Treasury0xb137...46ECe5
ACLManager0xdA13...2b510C
GovernanceExecutor0x3300...6af8c4
PoolAddressesProvider0x02C3...1793eE
SparkFoundationMultisig0x92e4...9fF5ec
SparkLendFreezerMultisig0x44ef...7BEeC3
Key Strengths
S1Battle-tested Aave V3 codebase with extensive audit coverage from top firms including OpenZeppelin, Trail of Bits, and Certora formal verification
S235 months of exploit-free operation since March 2023 with thousands of transactions processed
S3$5M bug bounty on Immunefi with hundreds of assets in scope, one of the largest in DeFi
S4Triple-redundant oracle architecture via Aggor aggregating Chronicle, Chainlink, and RedStone feeds
Key Risks
R1Undisclosed freezer multisig signer identities with threshold and independence unverifiable
R2No dedicated safety module for SparkLend depositors beyond implicit Sky Surplus Buffer backing
R3No named monitoring provider documented for continuous security coverage
R4Limited Spark-specific treasury (~$61M, ~1.15% of SparkLend TVL), relying on broader Sky ecosystem for backing
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