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September 21, 2026

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CRYPTO·COINBEAT

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Best DeFi Vault Curators · Rank 09 of 14

Spark review

Stablecoin depositors who want long timelocks and Sky-ecosystem backing.

spark.fi ↗

Scored by Maria FernandezLast verified September 21, 20267 scored facts

Score6.2

62 of 100 points

The short answer

Spark scores 6.2 out of 10 and ranks #9 of 14 in the best defi vault curators table, strongest on tenure as curator (10.0) and weakest on depositor losses (0.0).

SparkDAO, the Sky-ecosystem 'Star' behind SparkLend and the Spark Liquidity Layer, curates Morpho vaults that lend stablecoins against blue-chip collateral. Its largest is the Spark USDC Vault on Base, part of the Spark Liquidity Layer. It also co-curates the Sentora x Spark RLUSD vault on Ethereum.

Key facts on record

Primitives
Morpho
Networks
2

What the record shows

7 facts, each converted to points by the tables published in the table’s methodology. Each score below is read from the fact printed under it, with its source and the date it was checked.

Spark on assets under curation

7.0/ 20% of the score

$587M under curation. From Morpho's curator page (no DefiLlama curator entry); includes the $250M RLUSD vault co-curated with Sentora.

14 of 20 pts · app.morpho.org · checked September 21, 2026

Spark on tenure as curator

10.0/ 10% of the score

First vault 2024-03 — 2 years 6 months as of 2026-09-21.

10 of 10 pts · api.morpho.org · checked September 21, 2026

Spark on depositor losses

0.0/ 25% of the score

Not published — not recorded. Its legacy DAI vault supplied markets with about $658 of realized bad debt; whether Spark depositors bore any of it is not on record.

0 of 25 pts · no source on record

Spark on public reporting

10.0/ 15% of the score

Regular public reports.

15 of 15 pts · paragraph.com · checked September 21, 2026

Spark on performance fee

7.0/ 10% of the score

10% performance fee.

7 of 10 pts · app.morpho.org · checked September 21, 2026

Spark on safeguards

10.0/ 10% of the score

Timelock and guardian.

10 of 10 pts · app.morpho.org · checked September 21, 2026

Spark on primitives and networks

6.0/ 10% of the score

2 primitive–network pairs.

6 of 10 pts · app.morpho.org · checked September 21, 2026

Quick answers

What is Spark best for?
Stablecoin depositors who want long timelocks and Sky-ecosystem backing.. SparkDAO, the Sky-ecosystem 'Star' behind SparkLend and the Spark Liquidity Layer, curates Morpho vaults that lend stablecoins against blue-chip collateral.
Where does Spark rank among best defi vault curators?
#9 of 14, scoring 6.2 out of 10 — 62 of 100 points.
What is the weakest part of Spark?
Depositor losses at 0.0. Not published — not recorded. Its legacy DAI vault supplied markets with about $658 of realized bad debt; whether Spark depositors bore any of it is not on record.

Strengths and weaknesses

In its favour

  • $587.2M in curated Morpho deposits, and a Morpho record going back to March 2024.
  • Long timelocks: the Spark USDC Vault on Base has a 10-day timelock and a guardian, and its V2 Blue Chip USDT vault has 10-day timelocks and a sentinel.

Against it

  • Concentrated: two vaults hold about 94% of deposits, and the $250M Sentora x Spark RLUSD vault is co-curated and was mostly idle (about $3M allocated) at check time.
  • Its quarterly financial reports cover the whole protocol, and only the Q3 2025 report broke out curation figures. Its legacy DAI vault supplied markets that carry small realized bad debt.

How Spark compares

14 services in best defi vault curators

  1. 01Steakhouse FinancialStablecoin depositors and fintech integrators who want conservative, blue-chip-collateral Morpho vaults.10.0
  2. 02SentoraInstitutions and stablecoin issuers looking for a white-label curated vault with a research-heavy risk desk.9.8
  3. 03kpkConservative USDC/ETH depositors and DAOs who want low-fee Morpho vaults with strong governance controls.9.2
  4. 04YearnDeFi-native depositors who want Morpho USDC/ETH exposure with an openly published risk-scoring method.8.2
  5. 05RockawayXDepositors who want RWA and private-credit yield through Morpho or Kamino and accept a newer curator.8.1
  6. 06GauntletDepositors who want low-fee Prime-tier stablecoin vaults across many chains from a long-running quant risk firm.6.7
  7. 07KeyrockInstitutions that want a market maker's credit view on USDC lending, including on the Arc chain.6.7
  8. 08BitwiseAdvisers and institutions that want a known asset-manager brand curating an RWA-backed stablecoin lending vault.6.4
  9. 09Sparkyou are hereStablecoin depositors who want long timelocks and Sky-ecosystem backing.6.2
  10. 10K3 CapitalDepositors looking for Euler-based ETH and stablecoin yield on newer chains like Monad and Plasma.5.9
  11. 11HyperithmStablecoin depositors who want tiered-risk Morpho vaults on Monad and Ethereum from a quant-trading firm.5.4
  12. 12MEV CapitalMainly a case study in curator risk; what remains is a small set of Morpho vaults.5.2
  13. 13Re7 LabsExperienced users who want long-tail chains and assets and accept higher curator risk.4.7
  14. 14UltraYieldUsers who want Edge Capital's market-neutral strategy vaults more than a large Morpho/Euler lending book.4.1