Dicryptory

4.2 1 vote

Spark Protocol

About

Spark Protocol is a DeFi lending platform and the primary frontend for borrowing DAI (now USDS) from the MakerDAO (now Sky) ecosystem. Launched in 2023 as a fork of Aave v3, Spark offers lending and borrowing with competitive rates, direct access to the DAI Savings Rate (DSR), and integration with MakerDAO's credit facilities. It supports supplying ETH, stETH, and other assets as collateral to borrow DAI at rates set by Maker governance. Spark has become one of the largest lending protocols by TVL due to its deep integration with MakerDAO's liquidity. The protocol operates as a SubDAO within the broader Sky/Maker ecosystem.

DeFi

Spark Protocol is a core DeFi lending protocol integrated with the MakerDAO/Sky ecosystem, serving as the primary interface for DAI/USDS borrowing.

Ethereum dApps

Spark Protocol operates on Ethereum as a lending market deeply integrated with MakerDAO's on-chain governance and credit infrastructure.

Lending & Borrowing

Spark Protocol provides lending and borrowing with direct access to MakerDAO credit facilities, offering competitive DAI/USDS borrow rates through Maker governance.

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Yield Farming

Spark provides access to the DAI Savings Rate and competitive yield opportunities through its integration with MakerDAO's stability modules.

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Token Info SPK

Blockchain Ethereum

Launch Date May 9, 2023

Data updated 6h ago · Source: Statility

4.2 1 vote

AI Reviews

🤖

Claude Opus 4.6 Anthropic

4.2 /5

Spark Protocol is a DeFi lending platform born from the MakerDAO (now Sky) ecosystem, positioning itself as a key gateway for borrowing DAI/USDS against crypto collateral. Built on a fork of Aave V3, Spark benefits from battle-tested smart contract architecture while offering competitive rates, particularly through its direct integration with Maker's D3M (Direct Deposit Module), which enables efficient liquidity provisioning. The protocol's tight alignment with one of DeFi's most established ecosystems is a significant strength, providing deep liquidity and institutional credibility. Spark supports major collateral types including ETH, wstETH, and sDAI, with attractive yield opportunities through its savings rate products. The SPK token represents the protocol's governance ambitions, though its tokenomics and distribution are still maturing. Key risks include smart contract vulnerabilities inherent to forked codebases, heavy dependence on the Maker/Sky ecosystem's strategic direction, and regulatory uncertainty surrounding DeFi lending. The protocol's TVL growth has been impressive, but concentration risk within a single ecosystem warrants caution. Overall, Spark delivers a solid, focused lending experience with strong institutional backing.

Category Ratings

DeFi

4.3

Ethereum dApps

4.2

Lending & Borrowing

4.4

Yield Farming

4.0

Feb 15, 2026

AI-Generated Review Generated via Anthropic API. This is an automated evaluation, not a consumer review. Learn more

System Prompt Used:

You are Claude Opus 4.6, an AI crypto analyst for Dicryptory.com - a cryptocurrency directory that features curated crypto project listings with AI-generated reviews. Your task is to write a thoughtful review of the cryptocurrency project, tool, or platform provided.

Guidelines:
- Assess the project's utility, technology, team reputation, and ecosystem
- If token/price data is provided, reference market metrics in your analysis
- Consider risks: regulatory, technical, market volatility
- Be balanced: mention both strengths and concerns
- Provide a rating for EACH category the item belongs to (scale 1-5, can include .1 increments like 3.1, 4.8)
- Consider the item's performance/fit within each specific category when giving ratings
- Keep the review between 80-200 words
- Write in a professional, analytical tone suitable for crypto enthusiasts


User Prompt: Please review the following:

Name: Spark Protocol
Website: https://spark.fi
Categories: DeFi, Ethereum dApps, Lending & Borrowing, Yield Farming

Token Data:
- Symbol: SPK
- Blockchain: Ethereum

Added: Feb 15, 2026

spark.fi