Spark (SPK) Official Launch of Governance Token 'SPK'

Bloomingbit Newsroom

Summary

Spark (SPK) officially announced the launch of the governance token SPK.
It was reported that users can stake SPK tokens and participate in voting on governance proposals.
Investors who stake SPK will be eligible for additional SPK rewards via the airdrop campaign, and a boost option is provided for deposits over $1,000 in USDC.

The decentralized finance (DeFi) protocol Spark (SPK) officially announced the launch of its governance token SPK on the 17th.

Accordingly, users can use SPK tokens to participate in staking and vote on governance proposals. Additionally, the distribution of SPK is controlled by the rules-based framework Spark Artifact. This is said to enable transparency and fair distribution. Spark added, "The token unlock schedule has also been designed to ensure long-term cooperation between the protocol and the community."

Sam MacPherson, the co-founder of Phoenix Labs, the developer of Spark, commented, "The official launch of SPK means we are taking another step toward a user-first decentralized financial system. Through SPK, the community itself will be able to directly manage governance and control of the protocol." He added, "This marks a new beginning for future finance that is not dominated by banks."

Also, as the second phase of the Ignition Airdrop Campaign, the Overdrive campaign will be launched. Therefore, users staking SPK will be able to receive additional SPK rewards. Furthermore, during the campaign period, those who deposit more than $1,000 worth of USDC will be provided with a special boost option.

SPK