According to on-chain analyst Yujin, the lending platform Spark transferred 570,000 USDS to a new multisig wallet two days ago and began making small, multiple purchases of SPK using CoW Swap’s TWAP functionality. To date, Spark has repurchased 1.84 million SPK tokens ($36,000). Spark previously approved a SPK buyback proposal, which stipulates that operating reserves—approximately $35 million—remain untouched in the treasury, and 10% of excess funds each month are allocated for SPK repurchases. This buyback is expected to continue for 12 months.
Spark Launches Token Buyback Program, Has Repurchased 1.84M SPK to Date
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Summary
Spark, a lending platform, has launched a token buyback program, marking a key development in its token launch news. According to on-chain analyst Yu Jin, Spark transferred 570,000 USDS to a new multisig wallet and began repurchasing SPK tokens using CoW Swap’s TWAP function. To date, 1.84 million SPK tokens (valued at $36,000) have been repurchased. The plan allocates 10% of monthly surplus funds toward SPK buybacks over a 12-month period. This initiative aligns with current trends in new token listings and active market strategies.
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