Spark USDC Vault

USDC·Base·curated by SparkDAO

APY3.58%-0.42% vs 30d

TVL$8.18M

Risk score24/ 100

Plain English explanationWritten by Sharpe Finance research · model card · last update 2026-05-12

What this vault actually does

Spark blue-chip USDC vault. Lending against the lowest risk crypto and real-world assets (RWAs). Curated by SparkDAO which allocates billions in assets across all of DeFi. See: https://data.spark.fi/spark-liquidity-layer

What breaks this vault

The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.

Cap-weighted utilization is 86.3%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.

Weighted LLTV across markets is 86.0%. Sharp collateral drawdowns can trigger cascading liquidations faster than vault parameters can be adjusted.

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