Spark Finance has integrated its USDT savings vault into the OKX application. Users can now deposit funds through the On-chain Earn feature, which routes assets to the vault on the X Layer network. The service launched between September 10 and 11 and is currently available in select markets outside the European Union.
At the time of launch, the Spark Savings vault held approximately $1.26 billion in total value locked. The system utilizes the non-custodial ERC-4626 standard, where each deposited USDT is backed 1:1 by USDS. The current annual percentage yield for users ranges between 3% and 3.5%.
The integration aims to simplify DeFi interactions by removing the need for external wallets or manual token bridging. Spark Finance employs a layered risk framework with liquidity buffers to manage assets. The exclusion of the EU market is linked to the regulatory requirements of the Markets in Crypto-Assets framework.
