Maker Founder Proposes ‘Pre-Farming Airdrop’ for Spark Lending Platform

Rune Christensen, the founding father of Ethereum stablecoin issuance platform Maker, has launched an on-chain proposal for a “pre-farming airdrop” of SPK, the governance token of lending dapp Spark Protocol.

The proposal, submitted on Wednesday, discusses the token emission schedule of SPK tokens, with a complete provide of two billion tokens to be distributed over 10 years.

Christensen described it as a “pre-farming airdrop” or “retroactive farming” permitting early customers of Spark to “safe early SPK tokens.” Later, he clarified that the “established technical time period” for the token distribution is “Blind Mining.”

The transfer comes inside per week after the MakerDAO neighborhood voted to briefly improve the annual returns on DAI deposited by way of the Spark Protocol.

Now, Christensen is in search of to encourage customers “borrow from Spark Protocol” to turn out to be eligible for the SPK token airdrop.

The protocol’s deposits have jumped by 24.8% from $347 million to $433 million since Rune’s tweet went out, per DeFiLlama information.

The DAI borrowing swimming pools have a 100% utilization charge, that means customers have reached their borrowing restrict on DAI deposits.

Whole deposits in Spark have elevated 7.4 instances because the begin of the week, from $58 million to $438 million. 

Spark Protocol was developed by the Maker staff as part of its Endgame plan, which entails restructuring the DAO into a number of subDAOs, every with its personal governing token. The eventual purpose is to extend “Dai provide to greater than 100 billion inside 3 years,” in line with Christensen.

Spark is the primary try at shifting in the direction of that aim.