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SparkLend borrowing hits $2.89B in Q3 despite 30% net revenue drop after reward cut

Protocol Fundamentals
30 Oct 2026, 19:03 WIB
Tokenpost
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Bearish
SparkLend borrowing hits $2.89B in Q3 despite 30% net revenue drop after reward cut

SparkLend borrowing rose to $2.89 billion in Q3, increasing its share of loans across four major platforms to 13.2%. Total loans on these platforms grew 37% to $22 billion, and interest paid by borrowers increased 38% to $16.05 million. However, Spark's net revenue after funding costs fell 30% to $4.41 million, mainly due to a reduction in the distribution reward rate from 0.5% to 0.2% in July. Gross protocol returns dropped 27% to $30 million, and net income after expenses declined to $2.54 million from $3 million in Q2. Q4 will be the first full quarter reflecting the lower reward rate.

SparkLend borrowing and Spark's Q3 net revenue provide context for readers. As of Oct 30, 2026 23:02 WIB, among 50 major cryptocurrencies priced on Pluang, 4 rose and 45 fell. Notable movers include BAL (Balancer) with a price of Rp16.297 and a 1-day change of +11.14%, THETA (Theta Network) at Rp2.857 down 11.14%, and XTZ (Tezos) at Rp4.646 down 10.50% with 100% sell order activity. The most notable figure is BAL's 11.14% gain today.

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