Báo cáo quý 1 năm 2026 của Spark Protocol cho thấy lợi nhuận ròng 3,46 triệu USD

The Huoxing Finance report states that the Spark protocol released its Q1 2026 financial report on April 27. The report shows that the quarter generated a gross protocol return of $31.5 million (a 31% quarter-over-quarter decline), a net protocol return of $6.91 million (a 30% decline), and a net protocol surplus of $3.46 million (a 47% decline). The protocol treasury reached $46.1 million at the end of the quarter (a 5.7% increase quarter-over-quarter). Additionally, Spark launched an SPK token buyback program, having invested $986,000 to repurchase tokens on the open market. The revenue structure for the quarter shifted, with distribution rewards becoming the largest source of net protocol return ($3.31 million), surpassing the net income from Spark Liquidity Layer (SLL) for the first time. SLL had an average deployed capital of $19.3 billion and an average annualized yield of 5.8%. SparkLend continued to support institutional-grade lending, with its USDT savings vaults experiencing continued growth. Spark’s institutional lending products deployed $150 million by quarter-end, and the governance layer has approved a $1 billion ceiling for this product. The report notes that unfavorable conditions in the current DeFi lending market have narrowed SLL spreads, but the protocol’s distribution business has grown significantly. Amid challenging market conditions, USDS continues to expand its distribution channels across multiple chains and multiple stablecoins as a scalable savings-based return mechanism.