Per-protocol market breakdown, rates, and historical liquidity across the four tracked Ethereum lending protocols. Source: DefiLlama Yields.
Aave V3 fork by the Sky (MakerDAO) team, tightly integrated with DAI/USDS and sDAI/sUSDS savings rates.
What USDS savers earn (Sky), what Spark borrowers pay (lending market), and what Treasuries pay (FRED) — three rates that map Spark's role as Sky's on-chain distribution arm. The wedge between borrow and SSR is Spark's captured spread; the wedge between SSR and T-bill is the depositor's on-chain premium.
Sky Savings Rate: 3.65% — what USDS savers earn. Spark USDS borrowers pay 4.08% (a 43-bp spread Spark captures from borrowers). T-bills are at 3.60% — savers earn 5 bps over the risk-free rate.
| # | Market | Total Supply | Borrowed | Util | Supply APY | Borrow APY | LTV | Share |
|---|---|---|---|---|---|---|---|---|
| 1 | WSTETHCollateral-only | $2.20B | $32.48K | 0.0% | 0.00% | 0.00% | 83% | |
| 2 | USDSCollateral-only Core · SPK Farming Pool | $1.08B | — | — | — | — | — | |
| 3 | WETH | $998.26M | $828.10M | 83.0% | 2.04% | 2.59% | 85% | |
| 4 | USDT | $432.29M | $431.86M | 99.9% | 18.58% | 18.79% | E-Mode | |
| 5 | WBTC | $231.34M | $332.79K | 0.1% | 0.00% | 0.00% | 77% | |
| 6 | USDS Core | $211.26M | $142.75M | 67.6% | 2.48% | 4.08% | E-Mode | |
| 7 | LBTC | $209.87M | $0.00 | 0.0% | 0.00% | 5.00% | 74% | |
| 8 | WEETH | $140.85M | $0.00 | 0.0% | 0.00% | 5.00% | 79% | |
| 9 | CBBTC | $132.68M | $8.48M | 6.4% | 0.00% | 0.08% | 81% | |
| 10 | PYUSD | $99.97M | $12.98M | 13.0% | 0.45% | 3.86% | E-Mode | |
| 11 | EZETH | $34.35M | $0.00 | 0.0% | 0.00% | 5.00% | 75% | |
| 12 | USDC | $33.67M | $30.16M | 89.6% | 4.04% | 4.56% | E-Mode | |
| 13 | RETH | $19.51M | $1.86K | 0.0% | 0.00% | 0.25% | E-Mode | |
| 14 | SUSDS | $3.44M | $0.00 | 0.0% | 0.00% | 0.00% | E-Mode | |
| 15 | TBTC | $1.80M | $10.00 | 0.0% | 0.00% | 0.00% | 74% |