Spark Morpho Vault is Now Live

The Spark Morpho Vault is now live as an additional Money Market through Nook

We’re excited to share that Nook now supports the Spark Morpho Vault. With over $694M in total deposits, the Spark Vault has become one of the industry’s leading low-risk money markets - and now everyone on Nook has access.

Nook connects you to the highest-earning stablecoin money markets. But it’s not enough to connect once. Nook programmatically keeps you connected and we’re growing the number of available earning sources.

Why more earning markets matter

With the fed rate cut next week, savings rates will continue to decrease. Traditional savings products like Betterment and Robinhood's 4% Cash APY returns will most likely head below 4% this year and throughout next. Traditional savings products are once again on their heels and becoming less effective.

With the Spark Vault and programmatic rebalancing, users get access to another yield source while ensuring they get the highest available rate. Nook customers can now earn through five money markets. These money markets are based on stablecoin yields, and their rates are always changing. Over the past year, the five markets (Seamless Morpho Vault, Moonwell Morpho Vault, Spark Morpho Vault, Moonwell Core and AAVE Core) have averaged 8.3%, 8.0%, 6.4%, 6.1% and 5.4%, APY, respectively.

By adding a fifth market, you get more access to (1) larger money markets for larger deposits and liquidity and (2) a higher chance of earning higher yield with rebalancing.

Rebalancing has lead to 14.5% increase in earning rates in the past 365 days. From an average of 8.3% → 9.5% APY over the past 365 days.

Why we chose Spark

We built Nook to connect you to the highest and safest money markets.

Spark has steadily earned its reputation. With over $694M in total deposits, the Spark Vault on Morpho leads in lending against low-risk crypto and real-world assets (RWAs). It’s curated by SparkDAO, which allocates billions across DeFi and manages over $3B in assets.

Spark is based on the Aave v3 codebase (including the 3.0.1 and 3.0.2 upgrades). ChainSecurity completed audits for the SparkLend deployment, including the custom interest-rate strategy for the DAI market and the Savings DAI oracle. You can read the full audit reports on here.

How to enable Spark

As our fifth earning source, you can find Spark in the "Details" page of the Nook app. Simply go to your Dashboard → Details → See all earning sources → Select Spark Morpho → Enabled [Yes].

From there, after saving, Spark Morpho will now be active as a fifth earning source. Every 24 hours, Nook will evaluate the highest earning market, and automatically rebalance you into that pool. You can always disable it at any time.

What comes next

We are excited to partner with Spark and Morpho to continue to bring more money markets to your fingertips. But our mission does not stop here.

We believe that by being the open source to all of these markets, combined with a powerful rebalancing product and easy design, makes Nook the easiest place to earn. So we plan to continue to add new earnings sources across the financial sector - starting with the Base and Morpho ecosystem.

It all comes back to our mission. To connect you to higher yields.