The MakerDAO founder, Rune Christensen, has announced an airdrop for the Spark Protocol’s native SPK token.
According to the proposal, the tokens will be released gradually, with the proposal outlining the distribution of two billion SPK tokens over the next ten years.
The SPK Token Airdrop
The proposal is aimed at promoting long-term engagement with the platform and outlines the eventual distribution of two billion SPK tokens over ten years in an effort to incentivize the continued usage of the Spark Protocol. The SPK token will also act as a governance token for SparkDAO.
“The goal of the SPK pre-farming airdrop is to give users and borrow-arbers a reason to keep using Spark Protocol if the EDSR proposal to increase stability fees to 5% goes through.”
According to Rune, the proposal would be an avenue for the community to secure SPK tokens before the launch of the SubDAO, with Rune stating on X,
“I posted an overview of the potential SparkDAO SPK pre-farming airdrop for early users of http://sparkprotocol.io borrowing: This would be a way to secure early SPK tokens before the SubDAOs launch (Farming not available to US and VPN users)”
Spark Expected To Become SubDAO
Spark Protocol is a lending protocol that has been introduced by MakerDAO. The protocol provides DeFi loans, sourcing liquidity directly from Maker. As collateral, the protocol accepts several assets, such as DAI, ETH, and Staked ETH. Spark Protocol eventually aims to become a SubDAO, which marks a significant step in Maker’s Endgame Plan. As a subDAO, Spark will be an entirely independent, decentralized autonomous organization within MakerDAO. The Endgame plan envisions the creation of several subDAOs similar to Spark, each governed by its own distinct community and token.
A Way To Incentivize Usage
The SubDAO tokens will be allocated to Spark borrowers and will utilize several assets as collateral, distributed proportionately towards the amount and duration of borrowing. According to Christensen, the aim is to bootstrap a community of users and DAO participants whose goals are aligned with SparkDAO.
Go to Source to See Full Article
Author: Amara KhatriDid you like this?
Tip BTC Newswire with CryptocurrencyDonate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:
