SparkDEX V4

Rejected venues wait the longest for re-review; a rejection has to earn another look before the scheduled date.

SparkDEX V4 is a programmable AMM on Flare whose hooks, dynamic fees and strategy logic customize how pooled liquidity trades and rebalances. The DefiLlama protocol API read on 2026-08-15 reported about $13.3M of V4 DEX TVL, only on Flare. Manual, automated and even single-sided deposits remain claims on AMM pool inventory; automation changes who manages the position, not its divergence-loss exposure. The shared v1 AMM-LP dossier therefore controls.

Kill criteria: the events that revoke this verdict
• Ships an economically separate product without pooled multi-asset inventory or relative-price rebalancing that merits its own review

The research file

Mechanism applicability

SparkDEX documents V4 as a programmable AMM with external hooks, dynamic fees, flash accounting and manual or automated strategic-liquidity configurations. Its own dual-sided tutorial explains that the AMM sells some of the rising asset to maintain pool balance and can leave the LP worth less than holding the pair. This is direct AMM-LP membership, not merely a DEX interface label.

Current observation

The DefiLlama protocol API read on 2026-08-15 reported approximately $13.3M of SparkDEX V4 TVL, only on Flare. Current SparkDEX documentation continues to present V4 alongside the separate V3 and perpetual products. The adapter record bounds the V4 survey perimeter but does not independently reconcile pool assets, fee income or stressed exit depth.

Control and exit applicability

Dual-sided LPs may choose manual ranges or automated management by ICHI or Steer, while single-sided deposits are routed into an automatically managed vault and receive a vault token representing the pool share. Holders can request withdrawal through the position manager, but strategy logic, hooks, dynamic fees and the assets remaining after rebalancing determine the economic output. Delegating range management does not remove inventory loss.

Why the class rule decides

The shared v1 AMM-LP dossier controls because SparkDEX V4 returns are generated from pooled multi-asset inventory whose composition responds to trades and relative price. Reopen only for an economically separate SparkDEX product with neither pooled multi-asset inventory nor relative-price rebalancing. Any such product needs its own review of Flare deployment, hooks and managers, contracts, audits and incidents, incentives, liquidity and stressed exits.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

• SparkDEX Docs — V4 DEX · primary · accessed 2026-08-15
  Supports: V4 AMM, hooks, dynamic fees, flash accounting, strategy logic, automated liquidity
• SparkDEX Docs — dual-sided LP · primary · accessed 2026-08-15
  Supports: paired deposit, manual range, automated manager, impermanent loss, withdrawal, fee claim
• SparkDEX Docs — single-sided LP · primary · accessed 2026-08-15
  Supports: single-token deposit, automatic strategy, ICHI, Steer, vault token, pool share, withdrawal
• DefiLlama — SparkDEX V4 survey record · secondary · accessed 2026-08-15
  Supports: current TVL, Flare-only perimeter, DEX category, survey observation

Inherited controls

The verdict above grades the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The least safe layer sets the position’s grade, and the position table names which one that is.