---
title: "Spark Savings USDT (spUSDT) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/susdt-spark/"
description: "Build-time stablecoin profile for Spark Savings USDT (spUSDT). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Spark Savings USDT (spUSDT)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

the USDT share class for the Sky Savings Rate, layered over the same Spark PSM and Sky savings module as spUSDC. Spark Savings USDT (spUSDT) is the ERC-4626 V2 savings vault that translates the Sky Savings Rate into a USDT share class. The Ethereum vault holds about $1.19B of USDT and accrues value via the share price; deposits route through Spark's {{term:psm}}PSM{{/term}} into Sky's savings module as a {{term:yield-bearing}}yield-bearing{{/term}} position. Holders inherit the USDT issuer surface (Tether), the Spark vault contract risk, and Sky governance's rate-setting authority. {{term:redemption}}redemption{{/term}} is on-chain through standard ERC-4626 withdraw and depends on PSM-level USDT liquidity.

## Collateral

USDT deposited into Spark's ERC-4626 savings vault V2, routed through Sky's PSM and savings rate to generate USDT-denominated yield

## Peg Mechanism

Deposit USDT to mint spUSDT; the share price appreciates against USDT as the Sky Savings Rate accrues. Withdrawals burn spUSDT for USDT subject to Spark vault liquidity

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xe2e7a17dff93280dec073c995595155283e3c372` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/susdt-spark.