Gate News bot message, Spark announced the launch of the first phase of the Ignition Airdrop on Tuesday.
Users who lend or borrow tokens on Spark, or deposit tokens issued by its parent protocol Sky on other DeFi protocols, are eligible to share a token pool containing 300 million SPK tokens, which is valued at approximately 18 million dollars as of the time of writing (based on current prices).
SPK holders will be able to participate in future Spark governance and stake to earn more rewards in future Airdrops. Spark stated in a post on X that staked SPK may also be used to secure the protocol in the future. Based on the amount deposited, Spark is currently the fourth largest DeFi protocol.
The total supply of SPK is 10 billion pieces, which will be distributed over the next 10 years.
65% of the supply will be distributed as rewards to users of Spark and Sky, 23% will be used to support the growth of the protocol, and an additional 12% will be allocated to Spark contributors and team members.
Users eligible for the SPK Airdrop have six weeks to claim their tokens.
Source: DL News
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