SP
SparkLend is the lending market of Spark Protocol, a sub-DAO inside the Sky (formerly MakerDAO) ecosystem. It runs an Aave V3 fork tuned specifically for stablecoin lending, with parameters set by Sky governance rather than the usual utilization-driven curve.
The market is fed by the Spark Liquidity Layer, which routes USDS and DAI into and out of the protocol so rates remain steady regardless of demand. SparkLend works closely with the Sky Savings Rate and PSM to provide what is effectively a deep, governance-priced borrow market for the Sky stablecoin stack. SPK is the Spark governance token.