[Spark Q2 Total Revenue Reaches $40.6 Million, Up 29% QoQ, But Net Income and Surplus Decline QoQ] DeFi protocol Spark released its financial report for the second quarter of 2026, with total protocol revenue reaching $40.6 million (up 29% QoQ); net protocol income at $4.31 million (down 38% QoQ); and net protocol surplus at $710,000 (down 79% QoQ). The QoQ decline was primarily driven by the continued narrowing of spreads in the Spark Liquidity Layer (SLL) and the rising financing costs of expanding the USDT savings market. The Spark protocol treasury stands at $48.5 million, with Q2 SPK token buybacks amounting to $1.31 million.