MIP 104 - Spark USDC Deposit Rewards 2

This proposal merits approval due to its targeted approach in incentivizing Spark’s USDC deposits in Coinbase-integrated markets amid rapidly growing borrow demand. The strategic reduction from 50% to 25% for larger deposit volumes reflects careful management of Morpho’s rewards budget, limiting potential distortion of market-wide liquidity. Additionally, the explicit 6-month term ensures transparency and timely review.