@catholic

Spark is a onchain capital allocator It's revenue over the past 30 days is approximately $4.5 million, a level close to Pendle's $5.6 million. When compared within the lending track, among projects that the market recognizes relatively well in this cycle, - maple $770,000 - Euler $540,000 - Fluid $1.1 million Spark is almost overwhelmingly leading, with only Aave as the major mountain ahead. Its market cap is only around $100 million. The only issue is that $SPK and $SKY are currently subsidizing the USDS Farm, creating potential selling pressure, but once revenue starts to be linked to the token, the situation could change immediately.

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