Spark launches the first phase of Ignition airdrops, available before 22:00 on July 22

PANews reported on June 17 that the decentralized finance protocol Spark announced the launch of its native token SPK and launched 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 within 10 years, of which 65% will be used for user rewards, 23% for ecosystem development, and 12% for core contributors.

The 650 million SPKs allocated by Sky Farming will be distributed at 1.625 billion per year in the first two years, and will decrease year by year thereafter. The 230 million SPKs allocated by the ecosystem will be distributed in part through Ignition airdrops, and the contributor tokens will be gradually released after 12 months.

The airdrop activity is now open. Users can claim and earn extra SPK rewards through Overdrive staking before 22:00 Beijing time on July 22.