Spark Blue Chip USDC Vault on Ethereum
A Morpho vault on Ethereum that lends out USDC deposits, curated by SparkDAO. Depositors earn 4.33% a year right now after a 1% performance fee.
Data from Morpho's API · updated
Net APY
4.33%
after fees, paid to depositors
30-day APY
4.81%
7-day 5.26%, from the share price
Deposits
$2.6K
2.62K USDC
Withdrawable now
$2.6K
100% of deposits
Performance fee
1%
of the interest earned
Depositors
12
largest holds 1442390.6%
Spark Blue Chip USDC Vault APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| 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% | $34.84M | 92.3% |
| wstETH / USDCLLTV 86% | $2.92M | 7.7% |
| 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% |
|---|
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.45% |
|---|---|
| Last 7 days | 5.26% |
| Last 30 days | 4.81% |
| Last 90 days | 4.20% |
| Last year | 3.68% |
Who controls this vault
| Curator | SparkDAO |
|---|---|
| Owner | 0x3300…f8c4 |
| Guardian | 0xf574…908B |
| Timelock | 10 dayswait before risky changes take effect |
| Allocators | 1addresses that move money between markets |
| Created | September 8, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9997 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 4.37% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x56A7…581D |
| USDC token | 0xA0b8…eB48 |
| Network | Ethereum |
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
12 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x1601…347E | $37.76M | 1442390.6% |
| 0xE5f2…0247 | $2.6K | 98.5% |
| 0x3204…8F81 | $20.00 | 0.8% |
| 0x0000…0001 | $1.00 | 0.0% |
| 0x1f19…9D9f | $1.00 | 0.0% |
| 0x0000…8A90 | $0 | 0.0% |
| 0x1121…0a11 | $0 | 0.0% |
| 0x6bD2…6d95 | $0 | 0.0% |
| 0x8335…d558 | $0 | 0.0% |
| 0xC278…6904 | $0 | 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 Blue Chip USDC Vault
Spark Blue Chip USDC Vault is a MetaMorpho vault (Morpho V1) on Ethereum, created on September 8, 2025. It takes USDC deposits and lends them to borrowers in 2 Morpho markets. The curator, SparkDAO, decides which markets it may use and how much can go into each.
It holds $2.6K (2.62K USDC) from 12 depositors and pays a net APY of 4.33% after its 1% performance fee. Over the last 30 days depositors actually earned 4.81% a year, and 3.68% over the last year.
Its largest position is cbBTC / USDC at 92% of its deposits, followed by wstETH / USDC (8%). Counting every market, its loans are backed mainly by cbBTC (100%). 100% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 10 days, which gives depositors time to leave first. Morpho's app shows no warnings for this vault.
Spark Blue Chip USDC Vault: quick answers
What is the APY of Spark Blue Chip USDC Vault on Ethereum?
Spark Blue Chip USDC Vault pays 4.33% net APY right now, after its fees. Measured from the growth of its share price, it paid 4.81% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Spark Blue Chip USDC Vault lend against?
It lends USDC through 2 Morpho markets. The biggest is cbBTC / USDC with 92% of its deposits. Overall its loans are backed mainly by cbBTC (100%).
Can I withdraw from Spark Blue Chip USDC Vault right now?
Yes: all of its $2.6K in deposits could be withdrawn immediately, because the markets it lends to have enough unborrowed USDC left. That can change quickly when borrowing picks up.
Who runs Spark Blue Chip USDC Vault and what does it charge?
SparkDAO curates it. It keeps 1% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Spark Blue Chip 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. Adding a market or raising a cap waits behind a timelock of 10 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
