Morpho price

The Spark protocol is making money, but the market hasn't noticed it yet, and institutions are sneaking in? As the DeFi market shifts to a new cycle and narrative focused on real revenue and protocol sustainability; stablecoins, Spark's USDS & sUSDS are becoming the next potential beneficiaries! The fundamentals of SPK are impeccable, but the technical aspects are currently lacking a bit – however, I still firmly believe that fundamentals are primary, and technicals are secondary! ▰▰▰▰▰ Spark's profit model! Users deposit USDS/sUSDS 　　　↓ Spark mints, schedules, and deploys across chains 　　　↓ Funds flow into high-yield scenarios like Aave / Morpho / Ethena 　　　↓ Returns flow back to users (sUSDS) & the protocol (SPK stakers) 　　　↓ SPK staking earns SSR (Sustainable Spark Rewards) 　　　↓ TVL continues to rise, enhancing capital allocation capabilities 　　　↓ Token value accumulation strengthens In simple terms: capital grows → returns increase → SPK dividends increase → the market buys SPK ▰▰▰▰▰ Real revenue distribution of Spark Let's take a look at Spark's current deployment data: ▪ Over $4.5 billion USDS minted (from Sky Allocation Vault) ▪ Over $3.1 billion deployed into on-chain strategies ▪ $900 million entered SparkLend ▪ $800 million entered BlackRock's BUIDL (government bond yields) ▪ Hundreds of millions deployed to high-yield scenarios like Ethena, Morpho, Pendle ▪ sUSDS has cumulatively distributed over $82 million in returns (data: Stablewatch) These returns are not in the future but are already being distributed daily to users and stakers as dividends! ▰▰▰▰▰ When the market wakes up, what stage will SPK be in? Currently, SPK's growth is still in a phase of market recognition lag: ▪ Ecological cooperation has been established (deep integration with Aave, Morpho, Pendle, Ethena, etc.) ▪ The yield flywheel has already started (sUSDS annualized stable at 5% - 8%) ▪ The number of users is continuously increasing (especially through leveraged plays with Morpho and Pendle) However, SPK's valuation has not fully reflected: ▪ The unique SSR revenue mechanism ▪ The market share of yield-generating stablecoins is continuously rising (sUSDS is second only to sUSDe) ▪ Cross-chain deployment + RWA compliance routes give Spark the potential for institutional participation This could be one of the most cost-effective timing points for SPK! Not giving buy/sell advice but it can be a reference! ▰▰▰▰▰ Here are a few observation points that I will continue to monitor: ▪ SSR yield: observe if staking returns can ramp up quickly ▪ sUSDS market share: can it capture more market from sUSDe? ▪ Capital flow: is there continued large-scale deployment into Pendle / Ethena / RWA? SPK market cap: are people starting to notice the flywheel running smoothly, and is that expectation reflected in the price? ▰▰▰▰▰ Conclusion You may have missed Lido, missed Pendle, missed ENA, but Spark is a yield aggregator you can still pay attention to, one that can truly sustain itself through profitability! So don't just look at surface-level hype; learn to look at revenue streams, dividend structures, and token economics, and you'll realize this is a DeFi alpha!

Couldn’t sleep and ended up diving into Katana’s DeFi model, VaultBridge really stands out, it’s a fresh take on making bridges useful. The contract funnels your Eth or USDC to Morpho vaults on Ethereum. That profit then circles back to juice up pools like Morpho or Sushi. Powered by @Agglayer

All your positions in one place

Wu learned that Cantina announced the launch of the Web3SOC framework, aimed at providing a unified assessment standard for institutions and DeFi organizations to promote a safer and more collaborative decentralized finance ecosystem. This framework was developed in collaboration with Uniswap Labs, Morpho, Maple Finance, Kiln, and others, covering four core areas: governance, security, financial robustness, and compliance.