Spark Protocol releases Q1 2026 financial report, with net protocol surplus reaching $3.46 million

Foresight News reports that the DeFi lending protocol Spark has released its financial report for the first quarter of 2026. The report shows that total protocol revenue for Q1 was 31.5 million USD (down 31% quarter-on-quarter), with net protocol income at 6.91 million USD (down 30% quarter-on-quarter), and net protocol surplus at 3.46 million USD (down 47% quarter-on-quarter). By the end of the quarter, the protocol treasury reached 46.1 million USD (up 5.7% quarter-on-quarter). Additionally, the protocol initiated its first SPK token buyback program this quarter, spending a cumulative 986,000 USDS on open market buybacks.

This quarter, reward distribution surpassed Spark Liquidity Layer (SLL) net income for the first time, becoming the protocol's largest net income source, with total quarterly revenue of 3.31 million USD and distributed supply reaching 4.5 billion USD. Regarding SLL, the average deployed capital was 1.93 billion USD, with an average annualized return of 5.8%. However, weakened demand for DeFi lending caused the captured interest spread to narrow from 0.83% in January to 0.41% in March. Within the quarter, SparkLend’s reserve factor income was 156,000 USD, with the USDT deposit balance reaching 285 million USD by the end of March.