TechFlow News, MakerDAO has announced the upcoming launch of its first SubDAO, Spark. With the launch of Spark, its native token SPK will be introduced along with various SPK token earning programs.
Spark's main products include SparkLend and Cash & Savings, offering users services for borrowing DAI and on-chain banking-like products linked to the Dai Savings Rate (DSR).
SparkLend users can participate in a pre-mining campaign on spark.fi to start earning SPK tokens early. The current SPK pre-mining program will run until May 20, with earned SPK tokens distributed upon Spark's official launch.
After Spark launches, NewStable users will have opportunities to mine SPK tokens on the Ethereum mainnet and major L2 scaling solutions.
A total of 4 billion SPK tokens will be distributed over 10 years: 1 billion per year for the first two years, then halving every two years thereafter, ensuring a controlled release of SPK tokens.
• NewStable users will receive 70% of the distributed tokens (700 million SPK annually).
• Lockstake Engine users will receive the remaining 30% (300 million SPK annually).
SPK token holders will gain immediate access to mine the NewGovToken (NGT).
