Rune Christensen, the founder of MakerDao, has revealed his strategy for the gradual release of tokens, including plans to unlock 500 million tokens within the first year.
In addition, this announcement coincides with the launch of a pre-farming airdrop for Spark’s native SPK token. Spark Protocol, initiated by MakerDAO, serves as a lending and borrowing marketplace specifically for the DAI stablecoin.
SPK Token Airdrop for Borrowers
In a recent post on MakerDAO’s forum, Rune Christensen outlined the upcoming SPK token airdrop. In addition, the airdrop will be rewarded to protocol borrowers and SPK will function as a governance token for the SparkDAO within the Spark Protocol ecosystem.
Further, Rune emphasized that this approach would help secure early SPK tokens prior to the launch of SubDAOs.
Gradual Token Release and SubDAO Development
Rune’s proposal includes a distribution of 2 billion SubDAO tokens over a period of 10 years. This extended distribution aims to incentivize sustained protocol engagement. The tokens are planned to be released in stages, starting with the unlocking of 500 million tokens within the first year. This strategic token release is aligned with Spark Protocol’s evolution into a SubDAO.
Furthermore, the Spark Protocol’s transition into a SubDAO is a significant step towards MakerDAO’s overarching strategy. A SubDAO is envisioned as an independent decentralized autonomous organization operating within the framework of MakerDAO. This approach seeks to enhance the ecosystem’s decentralization and autonomy.
Additionally, the Spark Protocol, launched in May, offers borrowers the ability to secure loans against assets like DAI, USDC, ETH, and staked ETH. Moreover, the protocol has introduced a DAI saving program that provides an 8% Annual Percentage Yield (APY).