Spark, a leader in decentralized finance (DeFi) focused on providing transparent rates and competitive stablecoin yields, today announced the official debut of the Spark native governance token, SPK. This milestone marks a new chapter in Spark’s evolution and governance roadmap.
Built as a decentralized alternative to the inefficiencies and opacity of traditional finance, Spark empowers users to access capital markets without intermediaries or central gatekeepers. With currently more than $4 billion in liquidity across leading decentralized platforms, its protocol suite supports transparent, automated capital deployment across leading DeFi venues such as Aave, Morpho, and Ethena, as well as tokenized RWAs including BlackRock’s BUIDL fund, Centrifuge, Superstate, and Maple Finance.
“With the launch of SPK, Spark moves one step closer to its vision of an open, transparent, and user-first decentralized financial system. This is not an attempt to replicate traditional finance but a response to its shortcomings. SPK puts governance and control directly in the hands of the community, opening a new chapter in the Not-a-Bank future,” said Sam MacPherson, CEO and Co-Founder of Phoenix Labs, the core development team behind Spark.
Overdrive: Deepening Ecosystem Alignment
The launch of SPK also coincides with the rollout of Overdrive, the second phase of the Ignition Airdrop campaign. Overdrive allows eligible users to receive additional SPK by staking their SPK, further incentivizing early ecosystem engagement. A boost option is available for users saving at least 1,000 USDS or USDC in Spark Savings during the Overdrive period.
Users can also check their eligibility and review Overdrive rules via the Spark dashboard at: https://link.spark.fi/Ignition
Igniting Community Involvement
SPK plays a central role in Spark’s ecosystem, enabling holders to:
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Stake and Secure: Token holders who stake SPK can earn rewards. More information on the SPK staking mechanism can be found at https://docs.spark.fi/staking.
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Vote on Governance Proposals: SPK holders shape Spark’s evolution by participating in decision-making.
SPK’s distribution mechanics are governed by the Spark Artifact, a transparent, rule-based framework that defines the long-term distribution of the token. Token unlock schedules follow a distribution model, designed to promote sustainable, broad-based participation and ensure long-term alignment between the protocol and the community. Learn more at https://docs.spark.fi/
Building the DeFi Reserve Layer
Spark is a capital deployment engine that brings transparency and stablecoin utility across decentralized finance. The Spark suite includes SparkLend, a decentralized, non-custodial liquidity market protocol; Spark Savings, which converts stablecoins into tokens with native yield; and the Spark Liquidity Layer (SLL), an automated system that allocates capital across DeFi protocols and tokenized real-world asset platforms. Permissionless and composable, Spark lowers operational barriers for users, DAOs, and institutions to access decentralized capital markets.
About Spark
Spark is an ONCHAIN CAPITAL ALLOCATOR focused on providing innovative savings returns, offering competitive stablecoin yields. Spark oversees $4bn+ liquidity and generates $180.4m+ in annualized revenue by deploying and managing capital in DeFi.
Spark powers DeFi with its three components, SparkLend, Spark Savings, and the Spark Liquidity Layer (SLL). For more information about Spark, visit spark.fi, Twitter, or Discord.
This crypto-asset marketing communication has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset marketing communication.
For the published SPK white paper and contact information, visit spark.fi/mica.