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Spark is a decentralised non-custodial liquidity market protocol where users can participate as suppliers or borrowers. Suppliers provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion. Please join the Maker community Discord server; the Spark team and members of the community look forward to helping you understand and use Spark.
Spark Protocol has been audited and secured. The protocol is completely open source, which allows anyone to interact with a user interface client, API or directly with the smart contracts on the Ethereum network. Being open source means that you are able to build any third-party service or application to interact with the protocol and enrich your product.
In order to interact with Spark protocol, you simply supply your preferred asset and amount. After supplying, you will earn passive income based on the market borrowing demand. Additionally, supplying assets allows you to borrow by using your supplied assets as a collateral. Any interest you earn by supplying funds helps offset the interest rate you accumulate by borrowing.
Interacting with the protocol requires transactions and so transaction fees for Ethereum Blockchain usage, which depend on the network status and transaction complexity.
Your funds are allocated in a smart contract. The code of the smart contract is public, open source, formally verified and audited by third party auditors. You can withdraw your funds from the pool on-demand or export a tokenised (aTokens) version of your lender position. spTokens can be moved and traded as any other cryptographic asset on Ethereum.
Why is my wallet blocked? We receive blockchain intelligence provided by TRM Labs. TRM combines on-chain data and real-world investigations to identify financial crime and other prohibited activities. This data blocks wallets from app.sparkprotocol.io that are associated with certain legally prohibited conduct.If you believe your address has been incorrectly flagged, please contact [email protected].
What information is shared with TRM Labs? Your address is shared with TRM, but no metadata is tracked or shared. The request from the UI is routed to the Spark hosted API, which is used as a proxy endpoint, and the address is passed directly through to the TRM service. Users' IP addresses are not shared with TRM.
No platform can be considered entirely risk free. The risks related to the Spark platform are the smart contract risk (risk of a bug within the protocol code) and liquidation risk (risk on the collateral liquidation process). Every possible step has been taken to minimise the risk as much as possible-- the protocol code is public and open source and it has been audited. Additionally, you can find additional security related information in the security and audits sections.
Be careful, Spark doesn't have any downloadable mobile application available. If you find one, it is a scam. Spark Protocol would not ask for your seed passphrase ever. Spark never advertises on any social media or search engine. If you see any advertisement, those are scams and phishing sites.