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Spark lending platform launches SPK token buyback program, has repurchased 1.84 million tokens

Daily Crypto News Capital Flow Project Progress Token Events

2026-03-07 10:22:39

SPK-5.93%

Gate News reports that on March 7, on-chain analyst Yu Jin monitored that the lending platform Spark transferred 570,000 USDS to a newly created multi-signature wallet on March 5. Subsequently, it began executing SPK token buybacks using CoW Swap's TWAP feature. So far, 1.84 million SPK tokens have been repurchased, worth approximately $36,000. It is reported that Spark previously approved an SPK buyback proposal, which involves reserving about $35 million in the treasury as operational reserve funds, with 10% of remaining funds each month used for SPK repurchases. The buyback plan is expected to last 12 months.

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