Tether USDt

Spark

<h2 id="key-facts">Key Facts</h2>
<ul>
 <li>Spark has made its Spark Savings USDT product available inside the OKX app, reaching exchange users who do not connect a wallet or bridge assets themselves.</li>
 <li>Deposits reach Spark Savings on X Layer, OKX's EVM layer-2 network, after the exchange aggregates them.</li>
 <li>Spark is launching the product in selected markets outside the European Union, subject to local requirements.</li>
</ul>
<p>Spark, a digital finance protocol that allocates capital across on-chain markets, said Friday it has extended its Spark Savings USDT product into the OKX app, giving it a route to stablecoin balances already sitting on the exchange.</p>
<p>Users subscribe with Tether (<a href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer">USDT</a>) through OKX On-chain Earn without separately connecting a wallet, bridging assets or interacting directly with <a href="https://coinmarketcap.com/academy/glossary/defi" rel="noopener noreferrer">DeFi</a> applications, according to the companies. OKX aggregates those deposits and connects them to Spark Savings on X Layer, OKX's EVM <a href="https://coinmarketcap.com/academy/glossary/layer-2" rel="noopener noreferrer">layer-2</a> network.</p>
<h2 id="how-spark-deploys-the-deposits">How Spark Deploys the Deposits</h2>
<p>Spark allocates the capital across approved venues including lending markets, liquidity provision, real-world assets and other credit strategies, within constraints its governance defines. The protocol describes the allocation as programmatic.</p>
<p>For every dollar deposited, Spark borrows an equivalent amount of USDS through the Sky Allocation System Primitive, providing 1:1 USDS backing inside the Spark Liquidity Layer, the company said. Spark said its security framework combines liquidity buffers, constrained capital movement and a layered structure designed to progressively absorb losses before they reach Spark Savings depositors, and that vault balances and allocation activity are visible on-chain.</p>
<p>Spark Savings held about $1.26 billion in <a href="https://coinmarketcap.com/academy/glossary/total-value-locked-tvl" rel="noopener noreferrer">total value locked</a> at the time of writing, <a href="https://defillama.com/protocol/spark-savings" rel="noopener noreferrer nofollow">according</a> to DeFiLlama, within a wider Spark operation that also includes the SparkLend lending market.</p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/e932ad8e2e894e0e952840b41d76e25b.png">
<p><em>Source: DeFiLlama</em></p>
<h2 id="where-spark-savings-usdt-is-available">Where Spark Savings USDT Is Available</h2>
<p>Spark Savings USDT will initially reach eligible OKX users in selected markets outside the European Union, subject to applicable local requirements.</p>
<p>Sam MacPherson, co-founder and CEO of Spark, said the integration "doesn't bring DeFi complexity into the CEX experience; it brings the benefits of DeFi behind a familiar CEX experience."</p>
<p>Spark said the launch forms part of a broader collaboration with the exchange, with further integrations under consideration.</p>
<p>The protocol follows Aave, which <a href="https://coinmarketcap.com/academy/article/aave-expands-to-okxs-x-layer-as-21st-blockchain-integration" rel="noopener noreferrer">expanded to X Layer</a> earlier this year, onto a network OKX <a href="https://coinmarketcap.com/academy/article/okx-launches-ethereum-layer-2-x-layer-leveraging-polygons-agglayer" rel="noopener noreferrer">built on Polygon's CDK</a> to settle to Ethereum.</p>
<blockquote><strong>Read More: <a href="https://coinmarketcap.com/academy/article/1inch-sergej-kunz-defi-liquidity-race-efficiency" rel="noopener noreferrer">1inch's Sergej Kunz: DeFi Liquidity Race Is 'All About Efficiency'</a></strong>
</blockquote>

Spark Brings On-Chain USDT Savings to OKX App Via X Layer

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