Spark Savings USDT (spUSDT) stablecoin analytics
Answer First
What is Spark Savings USDT (spUSDT)?
spUSDT is Spark's yield-bearing USDT wrapper for Spark Liquidity Layer allocations, accruing protocol-set returns from SLL deployment routes. The static profile records its USDT-denominated NAV accounting mechanism as: Users deposit USDT into Spark Savings Vault V2 and receive spUSDT; a permissioned Spark Liquidity Layer taker deploys idle USDT into yield strategies while share value accrues via the vault savings rate (vsr), not the Sky Savings Rate or...
Is spUSDT safe?
spUSDT holds a C+ Safety Score grade (63/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spark Savings USDT uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spark Savings USDT (spUSDT) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDT-denominated NAV.
Variant Relationship
Spark Savings USDT (spUSDT) is modeled as a savings variant of Tether (USDT). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Sep 7, 2026
Spark Savings USDT is the Tether-denominated version of Spark's savings vault: deposits earn a vault savings rate set by Spark while a permissioned Spark Liquidity Layer taker deploys idle USDT into lending and other strategies. The wrapper gives USDT holders a rising share price, but the risk stack inherits Tether issuer exposure, Spark vault mechanics, Sky governance decisions, and whatever liquidity the vault can actually supply on withdrawal. That is a lot of institutional and protocol trust to package as one...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- USDT deposited into Spark Savings Vault V2 (ERC-4626 asset=USDT); idle USDT is taken by the Spark Liquidity Layer into SparkLend, Morpho, and other supported yield strategies, with Spark docs framing V2 USD vaults as economically backed by USDS / Sky balance-sheet liquidity for redemptions.
- Peg Mechanism
- Users deposit USDT into Spark Savings Vault V2 and receive spUSDT; a permissioned Spark Liquidity Layer taker deploys idle USDT into yield strategies while share value accrues via the vault savings rate (vsr), not the Sky Savings Rate or legacy sUSDC path.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety susdt-spark
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
spUSDT quick answers
What is Spark Savings USDT (spUSDT)?
spUSDT is Spark's yield-bearing USDT wrapper for Spark Liquidity Layer allocations, accruing protocol-set returns from SLL deployment routes. The static profile records its USDT-denominated NAV accounting mechanism as: Users deposit USDT into Spark Savings Vault V2 and receive spUSDT; a permissioned Spark Liquidity Layer taker deploys idle USDT into yield strategies while share value accrues via the vault savings rate (vsr), not the Sky Savings Rate or...
Is spUSDT safe?
spUSDT holds a C+ Safety Score grade (63/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spark Savings USDT uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs spUSDT?
Pharos classifies spUSDT backing as Crypto-Collateralized. Collateral, per the static profile: USDT deposited into Spark Savings Vault V2 (ERC-4626 asset=USDT); idle USDT is taken by the Spark Liquidity Layer into SparkLend, Morpho, and other supported yield strategies, with Spark docs framing V2 USD vaults as economically backed... Reserve evidence: live reserve feed configured.
Can spUSDT be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for spUSDT, when applicable, appear in the dossier below.
