About this explorer

The Rails SparkLend explorer shows the account of every wallet on SparkLend on Ethereum, whether still open, closed or liquidated, and the full history of each one. It also shows the market as a whole: the size of every asset it lists, the interest rates suppliers earn and borrowers pay on it, and its risk settings, such as its liquidation threshold.

How it works

• SparkLend is a lending market on Ethereum, governed by Sky, whose governance sets its supply caps and some of its rates. One contract, the Pool, holds every asset supplied. A wallet can supply assets to earn interest, and borrow other assets against them. One unit on this page is an account, which is everything one wallet supplies and owes.
• SparkLend uses the design of Aave V3. Every asset a wallet supplies as collateral backs all of its borrowing together, so the wallet has one account with a single health factor. Supplying gives the wallet spTokens.
• The health factor shows how safe an account is. When it falls below 1, the account can be liquidated. Anyone can do it, because a liquidator, who repays part of the debt, earns a bonus in collateral.
• Every value is priced by an oracle price. Wallets that borrow assets with closely linked prices can switch on E-mode to borrow more against their collateral.

Glossary

Wallet

: A wallet is an account address on Ethereum, which holds tokens and signs the transactions that supply, borrow, repay or withdraw on SparkLend. Each wallet has one SparkLend account on this explorer. Docs: SparkLend overview

Supply

: To supply is to deposit an asset into SparkLend so that it earns interest. Borrowers pay that interest, and it rises as more of the asset is lent out. Docs: Supplying assets

spToken

: An spToken is the receipt a wallet gets for supplying an asset, such as spWETH for WETH. Its balance grows with interest, and the wallet needs it to withdraw the asset. Docs: spToken

Collateral

: Collateral is a supplied asset that backs a wallet's borrowing. A wallet can switch an asset's collateral setting off, and then the asset no longer backs any loan. Docs: Collateral switch

Borrow

: To borrow is to take an asset out of SparkLend against the collateral a wallet has supplied. The loan grows with interest until the wallet repays it, and the most it can borrow depends on its collateral. Docs: Borrowing assets

Health factor

: The health factor is one number for a whole account: the value of its collateral, each asset counted up to its liquidation threshold, divided by its debt. The liquidation threshold is the share of an asset's value that counts as collateral, and SparkLend sets it for each asset. Below 1, the collateral no longer covers the debt and a liquidation can start. Docs: Health factor

Liquidation

: A liquidation happens when an account's health factor falls below 1. A liquidator is anyone who repays part of that debt, and in return takes collateral worth slightly more, which is the liquidator's bonus. Docs: What is a liquidation, Liquidation penalty

Oracle price

: An oracle price is the dollar price of an asset that SparkLend reads from an oracle, a service that reports each asset's price. It values collateral and debt, and it decides how much a wallet can borrow and when a liquidation can start. Docs: Oracles

E-mode

: E-mode is a setting for assets whose prices move together, such as two dollar stablecoins. A category is a group of assets with similar prices. A wallet in E-mode can borrow more against its collateral, and the docs say it can then borrow only assets from that category. Docs: E-Mode

Search takes a wallet address. The filters are Status, which keeps accounts that are Open, Closed or Liquidated; Debt (USD) and Collateral (USD), which keep a range of dollar values; Supplying and Borrowing, which keep wallets that hold a chosen asset; History (Liquidated before), which keeps accounts liquidated at some point; and Transactions, which keeps a range of transaction counts. Sort options are Recent activity, Debt and Collateral.

Tap the (i) beside any figure to see where it comes from. Inside, the ? explains that kind of event in general.