Spark Liquidity Layer becomes largest onchain capital allocator with $2.54B TVL
- —SLL's TVL reached $2.54 billion — over 25% of the 79-protocol category
- —$2.26 billion is deployed on Ethereum, with another $268 million on Base
- —Over 30 days the protocol generated $6.67 million in fees at a 0.27% spread
- —Funds are deployed through Morpho, SparkLend, BlackRock and Anchorage
Why it matters: SLL's growth shows how institutional custodians like BlackRock are entering DeFi yield through parameter-managed protocols.
Source: Crypto Briefing