Spark transfers $100 million in stablecoin reserves to Superstate crypto arbitrage fund

ChainCatcher news, according to The Block, the DeFi lending protocol Spark (part of the Sky ecosystem) announced that it will allocate $100 million from its stablecoin reserves to Superstate's USCC (Crypto Carry Fund) to generate returns through spot-futures basis trading. The current TVL of USCC is approximately $411 million.

Previously, Spark mainly generated returns through tokenized U.S. Treasury products such as BlackRock BUIDL and Franklin FOBXX. Superstate claims that USCC has an annualized return of about 8.35% over the past 30 days and operates within a compliance framework; it also manages USTB (tokenized U.S. Treasury fund). This year, Spark has also deployed approximately $1.1 billion to Ethena's USDe/sUSDe and $25 million to the Maple Finance pool.