Spark's lending market share rose to 13.2% in the third quarter, while net revenue declined by 30% sequentially.

Spark's market share among the four major lending platforms—Aave, Morpho, Fluid, and Spark—rose from 10.4% to 13.2%. During the same period, Spark's loan volume increased by 73% to $2.89 billion, and borrower interest payments increased by 38% to $16.05 million. However, due to the reduction in reward rates from 0.5% to 0.2% on July 9th, Spark's net revenue in the third quarter decreased by 30% sequentially to $4.41 million, and total protocol revenue decreased by 27% to $30 million. (Source: Blockworks)