Spark

Spark wstETH

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

$1.10b-9.95%

Supply APY

0.00%+29.94%

BB+Rated Protocol

Updated Mar 9, 2026

Risk Rating

BB+

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This rating is based solely on publicly available information. 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.

SCS: Smart Contract Security

KMP: Key Management Permissions

M: Market

L: Liquidity

C: Collateral

PM: Protocol Mechanics

ICE: Infra Counterparty Exposures

PCE: Protocol Counterparty Exposures

G: Governance

FR: Financial Resilience

TLC: Team Legal Compliance

DT: Documentation Transparency

Potential Score

Provider risk assessed across Business, Operations, Reliability, and Security.

View the detailed scoring breakdown

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Contract Addresses

LendingPool

0xC13e...E987

Oracle

0x8105...cFD9

Treasury

0xb137...ECe5

ACLManager

0xdA13...510C

GovernanceExecutor

0x3300...f8c4

PoolAddressesProvider

0x02C3...93eE

SparkFoundationMultisig

0x92e4...F5ec

SparkLendFreezerMultisig

0x44ef...EeC3

Key Strengths

Battle-tested Aave V3 codebase with extensive audit coverage from top firms including OpenZeppelin, Trail of Bits, and Certora formal verification
35 months of exploit-free operation since March 2023 with thousands of transactions processed
$5M bug bounty on Immunefi with hundreds of assets in scope, one of the largest in DeFi
Triple-redundant oracle architecture via Aggor aggregating Chronicle, Chainlink, and RedStone feeds
Sky/MakerDAO governance with multi-hour GSM Pause Delay timelock and Spark Risk Council veto power

Key Risks

Undisclosed freezer multisig signer identities with threshold and independence unverifiable
No dedicated safety module for SparkLend depositors beyond implicit Sky Surplus Buffer backing
No named monitoring provider documented for continuous security coverage
Limited Spark-specific treasury (~$61M, ~1.15% of SparkLend TVL), relying on broader Sky ecosystem for backing
SPK voting power concentration unverified with governance token distribution not publicly documented