The Spark lending platform has launched a token buyback plan and has currently repurchased 1.84 million SPK

According to on-chain analyst Yu Jin's monitoring, the lending platform Spark transferred 570,000 USDS to a new multi-signature wallet the day before yesterday, and then began making small multiple purchases of SPK using CoW Swap's TWAP feature. So far, 1.84 million SPK (worth $36,000) have been repurchased.

Spark previously passed a proposal for SPK repurchase, which roughly states: to first set aside operational reserves in the treasury, approximately $35 million. Then, each month, 10% of the excess funds will be used to repurchase SPK. This repurchase is expected to last for 12 months.