Spark Dashboard walkthrough

Our dedicated dashboard for Spark allows users to interact with the Saprk decentralized protocol and manage their position effectively. When creating a position is Spark, you will first have to insert a certain amount of funds as collateral, the supported collateral assets are currently: ETH, sDAI, wstETH, WBTC, rETH.

Your second step would be choosing the type of loan asset you would like to take out. The available assets are currently: DAI, USDC, ETH, WBTC, USDT, rETH and wstETH. After setting the amount you will just click on CREATE.

Besides creating a basic position, you can also use the "Leverage" option and create a leveraged position in 1 transaction with adjustable slippage limits available.

Once you created your position, in the dedicated dashboard you will see your NET Apy which is your yearly interest percentage on supplied funds which varies based on market supply & demand. Supply & Borrow Balance, your Safety Ratio and also what is the borrow limit based on your collateral and how much is there left for you to borrow. When you scroll to the right it will preview the Liquidation ratio, Liquidation limit and also Liquidation price.

Boost (instant leveraging) & Repay (deleveraging) are there as our signature features that you utilise for your position, apart from the basic functions like Withdraw, Payback, Supply and Borrow and our Automation Options.

A short preview of the features:

  • Boost - increase leverage in 1tx by borrowing, swapping collateral asset and depositing to your position

  • Repay - deleverage in 1tx by withdrawing collateral, swapping it to debt asset and paying back the debt

  • Supply - deposit selected asset into

  • Withdraw - withdraw selected asset from protocol

  • Borrow - borrow selected asset from protocol

  • Payback - payback the borrowed asset

Additionally, E-Mode (Efficiency mode) is available for Spark. Efficiency mode allows supplying and borrowing assets correlated in price under preferential terms, which will usually include an increased LTV, higher liquidation threshold and a decreased liquidation bonus. Groups of assets that can be used in efficiency mode can be stablecoins or ETH and various liquid staking derivatives.

You will also find a CLAIM button right next to the E-Mode one, which is current addition available for Spark users who are ETH suppliers. You can claim wstETH in the period between January 15th and February 13th.

When it comes to Automation, you can find it's page right next to the Manage button and you can preview the predefined strategies for Spark that include:

  • Automated Leverage Management

  • Stop Loss (coming soon)

  • Take Profit (coming soon)

  • Savings Liquidation Protection (coming soon)

There are 2 requirements for Automation and those are that a user’s position is on a Smart Wallet and that a minimum debt requirement is met. The debt requirement varies from protocol to protocol and is eligible to change from time to time.

Next to the Manage and then Automate tab, you will see Notify. This is our notification system that allows you to set up Ratio Monitors which can send out an alarm for specific triggers (example: a certain threshold ratio is reached and your position becomes risky).

You can also participate in only Supplying assets to the protocol. Click on the "Supply" button in the dashboard and pick the asset you want to supply. Select the amount you'd like to supply and after the transaction goes through successfully you begin earning interest.

The Spark Dashboard is currently available only on Mainnet.

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