Spark USDC Vault
A Morpho vault on Base that lends out USDC deposits, curated by SparkDAO. Depositors earn 3.87% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
3.87%
after fees, paid to depositors
30-day APY
3.91%
7-day 3.93%
Deposits
$307.0M
307.08M USDC
Withdrawable now
$165.7M
54% of deposits
Performance fee
10%
of the interest earned
Depositors
10,873
largest holds 98.3%
Spark USDC Vault APY history
Net APY earned each day, measured from the vault's share price
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| cbBTC / USDCLLTV 86% | $307.1M | 100.0% |
| WETH / USDCLLTV 86% | $0 | 0.0% |
| Idle cashnot lent out | $0 | 0.0% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| cbBTC | 100.0% |
|---|---|
| WETH | 0.0% |
| Other | 0.0% |
Returns over time
Net APY actually earned over each period, from the share price
| Last day | 3.84% |
|---|---|
| Last 7 days | 3.93% |
| Last 30 days | 3.91% |
| Last year | 4.30% |
| Since the vault started | 4.54% |
Who controls this vault
| Curator | SparkDAO |
|---|---|
| Owner | 0xF93B…F579 |
| Guardian | 0xf574…908B |
| Timelock | 10 dayswait before risky changes take effect |
| Allocators | 1addresses that move money between markets |
| Created | December 30, 2024 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9999 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 4.31% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x7BfA…F34A |
| USDC token | 0x8335…2913 |
| Network | Base |
The curator's description: "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"
Largest depositors
10,873 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x2917…09cA | $301.7M | 98.3% |
| 0xD4b3…cc53 | $672K | 0.2% |
| 0x100a…9208 | $565K | 0.2% |
| 0xE910…E23C | $536K | 0.2% |
| 0x0c45…a4D6 | $486K | 0.2% |
| 0x5dB3…48D6 | $267K | 0.1% |
| 0xc68E…750c | $121K | 0.0% |
| 0xB036…7196 | $119K | 0.0% |
| 0xbD75…9f8a | $117K | 0.0% |
| 0x37C9…22c4 | $107K | 0.0% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Spark USDC Vault
Spark USDC Vault is a MetaMorpho vault (Morpho V1) on Base, created on December 30, 2024. It takes USDC deposits and lends them to borrowers in 1 Morpho market. The curator, SparkDAO, decides which markets it may use and how much can go into each.
It holds $307.0M (307.08M USDC) from 10,873 depositors and pays a net APY of 3.87% after its 10% performance fee. Over the last 30 days depositors actually earned 3.91% a year, and 4.30% over the last year.
Its largest position is cbBTC / USDC at 100% of what it lends. Counting every market, its loans are backed mainly by cbBTC (100%). 54% of deposits could be withdrawn right now.
Risky changes, such as adding a market, wait behind a 10-day timelock, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Spark USDC Vault: quick answers
What is the APY of Spark USDC Vault on Base?
Spark USDC Vault pays 3.87% net APY right now, after its fees. Measured from the growth of its share price, it paid 3.91% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Spark USDC Vault lend against?
It lends USDC through 1 Morpho market. The biggest is cbBTC / USDC with 100% of its lending. Overall its loans are backed mainly by cbBTC (100%).
Can I withdraw from Spark USDC Vault right now?
About $165.7M of its $307.0M in deposits (54%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Spark USDC Vault and what does it charge?
SparkDAO curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Spark USDC Vault?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Changes to it wait behind a 10-day timelock. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks