Spark's share of outstanding loans across major DeFi lending venues rose from 4.3% to 10.4% in Q2. The broader lending market's loan book contracted about 30%, while Aave's interest income fell 23%; Spark's net income held near $3.3M and SPK buyback pace more than doubled.
Matters because: Spark appears to have gained share during a stress period, which could support further growth if lending demand recovers.