PANews April 20 news, Spark's strategic director monetsupply.eth stated on the X platform that Spark abandoned rsETH in January (along with other low-usage assets) and has continued to tighten collateral and functionality. Spark set a relatively high maximum borrowing rate for the SparkLend ETH market, while Aave reduced the maximum borrowing rate for ETH to below 10%, causing users to turn to Aave for borrowing, resulting in significant losses in business and revenue for Spark over the past year. However, under the current circumstances, SparkLend still maintains sufficient ETH withdrawal liquidity, while Aave's WETH reserves on the mainnet, Arbitrum, Plasma, Mantle, and Base are in a frozen state. Spark pointed out that ETH is the core collateral asset, and insufficient liquidity not only causes inconvenience for depositors but also poses a serious security risk when the utilization rate reaches 100%, rendering ETH collateral liquidation impossible. In the current situation of insufficient liquidity at Aave, a 15-20% drop in ETH prices could lead to a significant accumulation of bad debts.

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