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Spark lending platform launches token buyback program, has already repurchased 1.84 million SPK tokens
Deep Tide TechFlow News, March 7th, according to on-chain analyst Yu Jin’s monitoring, lending platform Spark transferred 570,000 USDS to a new multi-signature wallet the day before yesterday, then used CoW Swap’s TWAP feature to start small, multiple purchases of SPK. So far, they have repurchased 1.84 million SPK ($36,000). Spark previously approved a SPK buyback proposal, which roughly involves: setting aside operational reserves of about $35 million in the treasury without touching it, and each month using 10% of the excess funds to buy back SPK. This buyback is expected to continue for 12 months.