MakerDAO will launch its first SubDAO, Spark, and announce the economics of its SPK token
MakerDAO has announced the upcoming launch of its first SubDAO - Spark. Spark will introduce its native token SPK and various SPK token mining plans. The main products of Spark include SparkLend and Cash & Savings, the former allows users to borrow DAI, while the latter provides services similar to on-chain banking, connected with Dai Savings Rate (DSR). Currently, users can participate in the pre-mining activity of SPK tokens at spark.fi. This event will last until May 20th, 2024, and mined SPK tokens will be distributed when Spark is launched.
In addition, the total amount of SPK tokens is 4 billion and planned to be distributed over ten years with one billion each year for the first two years. NewStable users and Lockstake Engine users will respectively receive 70% and 30% of SPK tokens. Holders of SPK tokens also have an opportunity to start mining a new governance token NGT immediately.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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