Lending Protocol Spark: SPK Token Pre-Mining Season 2 Launched with a Monthly Allocation of 6.66 Million Tokens

PANews reported on May 20 that Spark, the lending protocol under MakerDAO, announced the upcoming launch of the second season of SPK token pre-mining. The monthly allocation is 6.66 million tokens, with a fixed SPK allocation per block, which will be distributed to eligible SparkLend users on Ethereum. Specific conditions include the amount of ETH deposited by the user and the amount of DAI borrowed, as well as the duration of the ETH deposit or DAI borrowing position.

Users who participated in the first season can join the second season without any restrictions, and new users will join under the same conditions. After the SPK token is launched, users will be able to claim the allocations they received during the two seasons based on the total amount of pre-mined SPK. The second season of pre-mining will start at 14:26 UTC on May 20 and will end when SPK and Spark SubDAO are launched.

SPK will serve as the governance token for Spark SubDAO, giving holders a voice in the organization and products of Spark. Additionally, according to MakerDAO's Endgame plan, SPK holders can farm 80 million NewGovToken (NGT) annually, which is an upgraded version of MakerDAO's MKR.