Spark Blue Chip USDT Vault (sparkUSDTbc) stablecoin analytics
Answer First
What is Spark Blue Chip USDT Vault (sparkUSDTbc)?
sparkUSDTbc is Spark's Morpho USDT lending-vault share, redeemable at its accruing asset NAV subject to market liquidity. The static profile records its USDT-denominated NAV accounting mechanism as: Deposit USDT to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDT per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions.
Is sparkUSDTbc safe?
Pharos does not mark sparkUSDTbc as absolutely safe. Static metadata says Spark Blue Chip USDT Vault uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spark Blue Chip USDT Vault (sparkUSDTbc) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDT-denominated NAV.
Variant Relationship
Spark Blue Chip USDT Vault (sparkUSDTbc) is modeled as a strategy vault variant of Tether (USDT). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Oct 2, 2026
Spark Blue Chip USDT Vault routes USDT through a Morpho lending adapter into markets secured by wstETH, WBTC and sUSDS, with a negligible cbBTC position in the reviewed inventory. Holders own a transferable lender receipt whose asset exchange rate increases with net interest. The immutable vault separates strategy configuration from share accounting, though Spark controllers retain fee, allocation and withdrawal-gate powers.
- Collateral
- USDT-denominated Morpho lending positions through a MorphoMarketV1Adapter, collateralized by wstETH, WBTC, sUSDS and a negligible cbBTC position; not directly held borrower collateral.
- Peg Mechanism
- Deposit USDT to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDT per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions. Borrower defaults, collateral liquidation and vault fees affect share value.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Next Actions
Exact bot target: /subscribe dews,depeg,safety sparkusdtbc-spark
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Oct 2, 2026.
sparkUSDTbc quick answers
What is Spark Blue Chip USDT Vault (sparkUSDTbc)?
sparkUSDTbc is Spark's Morpho USDT lending-vault share, redeemable at its accruing asset NAV subject to market liquidity. The static profile records its USDT-denominated NAV accounting mechanism as: Deposit USDT to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDT per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions.
Is sparkUSDTbc safe?
Pharos does not mark sparkUSDTbc as absolutely safe. Static metadata says Spark Blue Chip USDT Vault uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs sparkUSDTbc?
Pharos classifies sparkUSDTbc backing as Crypto-Collateralized. Collateral, per the static profile: USDT-denominated Morpho lending positions through a MorphoMarketV1Adapter, collateralized by wstETH, WBTC, sUSDS and a negligible cbBTC position; not directly held borrower collateral. Reserve evidence: live reserve feed configured.
Can sparkUSDTbc be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for sparkUSDTbc, when applicable, appear in the dossier below.
