PANews reported on June 17 that the decentralized finance protocol Spark announced the launch of its native token SPK and opened the first phase of Ignition airdrop. SPK holders can participate in protocol governance, stake tokens to earn rewards, and use them for protocol security in the future. The total supply of SPK is 10 billion, which will be distributed over 10 years, with 65% for user rewards, 23% for ecosystem development, and 12% allocated to core contributors.
Sky Farming will distribute 650 million SPK, with 1.625 billion tokens distributed in each of the first two years, gradually decreasing thereafter. The 230 million SPK allocated to the ecosystem will be partially distributed through the Ignition airdrop, and contributor tokens will be gradually released after 12 months.
The airdrop is currently open, and users can claim tokens and earn additional SPK rewards through Overdrive staking before 10 PM Beijing time on July 22.
