Spark Protocol has initiated the Ignition Airdrop campaign, marking the launch of its SPK governance token. Eligibility for the airdrop is based on holdings as of April 15 in stablecoins including USDS, sUSDS, sUSDC, sDAI, xDAI, SAI, or a minimum of $10,000 in DAI, as well as activity on SparkLend. The protocol's total value locked (TVL) has surged past $8.5 billion ahead of the token generation event (TGE), which has not yet been scheduled. The airdrop eligibility checker is now live, allowing users to verify their allocations. This development coincides with a favorable regulatory environment for decentralized finance (DeFi) following the Circle IPO. Meanwhile, Morpho Labs has unveiled Morpho V2, an intent-driven lending platform featuring fixed-rate, fixed-term loans and expanded capabilities such as variable and cross-chain rates. Morpho V2 currently manages $2.2 billion in loans, making it the largest layer-2 lending protocol after Aave. Other DeFi advancements include Aave's launch of sGHO, a stablecoin savings product, and Curve Finance's deployment on Hyperliquid’s HyperEVM Layer 1. The U.S. Securities and Exchange Commission (SEC) Chair has announced that DeFi platforms will be exempt from certain regulatory barriers, further supporting ecosystem growth.