# Spark Savings Vault deposits Methodology

## 1. Overview

Vault deposits is defined as the total value of assets held within Spark Savings vaults. The aggregate liquidity and user adoption of the Spark Savings V1 and V2 yield-generating products are represented by this metric. Through the continuous monitoring of total assets held within these vaults, the protocol's growth, capital efficiency, and overall scale are evaluated. Deposited balances are normalized by decimal precision and converted to USD to enable standardized analysis across different assets.

## 2. Data sources

- **Blockchain events**: State tracking data from Spark Savings V1 and V2 vault contracts, covering Ethereum, Avalanche, Arbitrum, Base, and 3 other chains
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Spark Savings state extraction

- **Purpose**: Extract raw total assets from Spark Savings V1 and V2 vault state records
- **Logic**: State values representing total assets are extracted from Spark Savings V1 and V2 vault contracts. These records are mapped to specific vaults, including Spark Savings V2 (USDC, USDT, ETH, PYUSD, and Spark Savings USDG) and Spark Savings V1 (USDC) contracts. The raw asset amounts are captured alongside their corresponding block timestamps, block numbers, and contract addresses.
- **Key fields**: `timestamp`, `chain_id`, `product_id`, `account_address`, `vault_name`, `vault_symbol`, `token_address`, `amount`

### Component B: Decimal normalization and daily delta calculation

- **Purpose**: Normalize asset balances and calculate daily changes in deposits
- **Logic**: Raw asset amounts are normalized by dividing the values by the decimal precision of each respective asset, which is retrieved from asset metadata. Daily delta values are then calculated by subtracting the previous day's normalized vault balance from the current day's balance for each unique combination of chain and vault address.
- **Key fields**: `vault_deposits`, `delta_vault_deposits`

### Component C: Cumulative aggregation and USD conversion

- **Purpose**: Reconstruct cumulative deposit balances over time and convert them to USD
- **Logic**: Daily delta values are aggregated and summed cumulatively over time to reconstruct the continuous historical balance of vault deposits. Missing days in the time series are filled forward to ensure continuity. The resulting daily balances are multiplied by end-of-day asset prices to convert the values into USD. Finally, any remaining gaps are filled with zeros where applicable to finalize the metric.
- **Key fields**: `vault_deposits`, `price_usd`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total amount of deposits held in protocol vaults.

Vault deposits

Asset management

Lenders deposit funds into Spark and receive interest payments from borrowers (supply-side fees).

Spark is a non-custodial lending protocol built on Ethereum. Spark’s development team Phoenix Labs was founded in early 2023.

SPK tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

Spark Savings

Vault deposits

Vault deposits

Chain breakdown