SparkSwap Crypto Exchange Review: What’s Still Active and What’s Dead in 2025

When you search for SparkSwap in 2025, you’re not looking at one platform-you’re stepping into a graveyard of failed projects, a niche DeFi experiment, and a confusing naming collision that could cost you money if you don’t know the difference.

There Are Three SparkSwaps. Only One Still Moves.

The original Sparkswap, the one backed by Polychain Capital and founded by Trey Griffith, shut down for good on March 24, 2023. It wasn’t a hack. It wasn’t a scam. It just couldn’t get enough users. Griffith said it plainly: “The style of self-custody we were espousing is too niche to make our business sustainable.” That’s the reality for many crypto projects that try to blend fiat on-ramps with decentralized trading. They’re expensive to run, regulated like banks, and still too clunky for most people. If you’re looking to trade crypto today, this version is gone. No app. No website. No way to recover your funds if you left anything there.

Then there’s SparkSwap on Binance Smart Chain (BSC). Launched in October 2021 by SparkPoint Technologies in the Philippines, it’s still listed on CoinMarketCap-but with a red flag: “Volume data untracked.” That means no one’s really trading on it. You won’t find it on any major DeFi analytics dashboard. Its website, srk.finance, hasn’t been updated since early 2023. GitHub activity stopped in November 2022. If you connect your MetaMask and try to swap SRK for BNB, you’ll likely face high slippage, failed transactions, and zero liquidity. It’s a ghost town.

The only SparkSwap still alive in 2025 is the one on PulseChain. This isn’t a swap platform-it’s a yield farming protocol. Built by the team behind EMP Money, it lets users stake stablecoins like USDC and DAI to earn up to 53% APR. No impermanent loss. That’s because you’re staking two stablecoins that don’t fluctuate in value relative to each other. It’s a smart design for a low-liquidity chain. PulseChain itself is tiny-just $142 million in total value locked (TVL) as of mid-2025-compared to Ethereum’s $38 billion. But for users who want high yields and don’t mind the risk of betting on a single chain, it’s one of the few places left offering real returns.

How SparkSwap on PulseChain Actually Works

You can’t just connect your wallet and start farming. First, you need to get assets onto PulseChain. That means using the official bridge, which takes 15 to 45 minutes and costs between $5 and $15 in gas fees. It’s expensive, but once you’re in, everything gets cheap. Transaction fees on PulseChain average $0.001-nearly free. That’s why people stick around.

Once your USDC or DAI is on PulseChain, you go to the SparkSwap interface. You pick the stablecoin farm-USDC/DAI is the most popular. You deposit your tokens, approve the contract, and you’re earning. Rewards come every 15 minutes, paid out in SPARK tokens. You can compound them manually or use the auto-compound vault feature, though there’s a 2% withdrawal fee on rewards if you pull out too often. That’s the trade-off: high yields, but you need to let your money grow.

The team behind it is active. They’ve got 14 GitHub commits in the last 30 days. Their Discord server has daily updates. They’re planning a V2 release with concentrated liquidity pools-something even Uniswap V3 uses to boost capital efficiency. That’s a sign they’re not just chasing hype. They’re building.

Why the BSC Version Failed (And Why You Should Avoid It)

SparkSwap on BSC looked promising at first. It had a native token (SRK), a fuel token (SFUEL), and a clean UI. But it never cracked the top 50 DEXs on BSC. PancakeSwap had 1.8 million daily users. SparkSwap had maybe 200.

Here’s what went wrong:

• No liquidity mining incentives-unlike PancakeSwap, which paid out CAKE tokens to attract LPs.
• No marketing-no airdrops, no influencers, no partnerships.
• Technical issues-users reported frequent transaction failures when BSC gas hit 10 Gwei.
• No transparency-no team info, no audit reports, no roadmap updates after 2022.

If you see someone promoting “SparkSwap BSC” as a new opportunity, walk away. It’s not dead-it’s already buried. The domain might still load, but the project is frozen in time.

Is PulseChain SparkSwap Safe?

Safe? No. Worth the risk? Maybe-if you know what you’re doing.

PulseChain is a hard fork of Ethereum. It’s not decentralized in the traditional sense. The founder, Richard Heart, controls the chain’s upgrade path. That’s a centralization risk. If he decides to change the rules, you’re stuck. There’s no governance token. No DAO. Just a team and a smart contract.

But here’s the upside: the yield is real. Users on Reddit and Twitter have verified payouts. The 53% APR isn’t theoretical-it’s calculated daily using their own tool. And because it’s stablecoin-to-stablecoin, you don’t lose value if prices swing. That’s rare in DeFi.

The biggest danger? Liquidity drain. If everyone pulls out at once, the pool could break. That’s why you should never put in more than you’re willing to lose. Treat it like a high-yield savings account with a 10% chance of default.

What to Do Instead in 2025

If you’re looking for yield without the risk of a single-chain collapse:

• Use Curve Finance on Ethereum or Polygon for stablecoin swaps with low slippage and solid APRs (5-12%).
• Try Aave or Compound for lending stablecoins-lower returns, but backed by multi-chain audits and institutional use.
• If you want high yield on a smaller chain, consider PulseX on PulseChain. It’s the main competitor to SparkSwap and has better TVL.

Don’t chase 50% APRs unless you understand the trade-offs. Most of them are designed to attract short-term capital, not build long-term value.

Final Verdict: SparkSwap in 2025

The name SparkSwap is a trap. It’s a ghost that haunts search results. If you’re looking to trade crypto, avoid anything labeled SparkSwap unless you’re specifically on PulseChain and you’ve done your homework.

The only version worth your time is SparkSwap on PulseChain-but only if:

• You’re comfortable with single-chain risk.
• You understand bridge fees and withdrawal penalties.
• You’re only risking money you can afford to lose.
• You’re in it for the yield, not the hype.

Everything else? Dead. Abandoned. Gone. Don’t waste your time-or your crypto.