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Spark Blue Chip USDC Vault

0x56a76b428244a50513ec81e225a293d128fd581dView on depeg monitor →

etherc4626 vault18.2 (low)Needs attentionStale (53d)

Last scored: 4/16/2026, 9:25:18 AM⚠ May be stale

Low risk18.2/100High risk

Top 3 risk drivers

  1. Centralization40 pts(+4.80 to score)
  2. Strategy50 pts(+2.50 to score)
  3. TVL outflow100 pts(+2.00 to score)

Share price: $1.0268

Score history (30d, 63 snapshots)+6 pts since 2026-04-02
712050100

Alert History

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✓ Safe to list

Low composite risk score. Standard disclosures apply.

Withdrawal risk: Some liquidity pressure

88% utilization — withdrawals may be slow or partially queued.

TVL trend

TVL down 9020% in 30 days— outflow risk

What's in this vault

Deposits

USDC

LST / LRT collateral— 50.0% of TVL

wstETH

LST/LRT collateral carries redemption lag — under correlated sell pressure, exit queues can stretch hours to days.

What this vault is exposed to

You deposit USDC. Here's what backs your position.

LINK
MKR
WETH
rETH
wBTC
weETH
wstETH

Source: Morpho markets

Rating breakdown

Sub-scores sorted by contribution. Each bar is relative to the top contributor.

TVL outflow100
liquidation_proximity85
Strategy50
Centralization40
audit_recency33.3
oracle20
utilization15
market_concentration15
Size10
Maturity10
Asset5
fee_drain5
Protocol risk1

Score 18 (LOW). Primary drivers: centralized governance, complex strategy, tvl outflow.

Risk flags

2 audits on record · last 2.4yr ago
ChainSecurity
EOA ownerHigh utilisationliquidation_proximity_riskLST redemption lagmetamorpho_fork_donation_risk

Recursive lending & looping

Loop exposure

0.0%

Morpho looping markets

LINK → USDC
$0
MKR → USDC
$0
WETH → USDC
$0
rETH → USDC
$0
wBTC → USDC
$0
weETH → USDC
$0
wstETH → USDC
$0

Trading Strategy technical risk

From Trading Strategy's Vault Technical Risk Framework

Negligible

Funding regime

Perp funding rate data (healthy vs compressed/inverted) will indicate when vault yield is from stable vs stressed conditions. Coming soon.