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Spark Executes $36,000 SPK Buyback Through CoW Swap

Spark initiated a $36,000 buyback of 1.84 million SPK tokens via CoW Swap and a multisig wallet, continuing its 12‑month plan to use 10% of excess treasury funds monthly to support token stability.

USDS

Summary

Spark approved its SPK buyback plan, moving 570,000 USDS to a multisignature wallet and purchasing 1.84 million SPK tokens worth around $36,000 through CoW Swap’s TWAP feature. The platform will maintain $35 million in reserves, allocating 10% of excess funds each month over a 12‑month period to support SPK liquidity and price stability.

Terms & Concepts
  • Multisignature (multisig) wallet: A crypto wallet requiring multiple private keys to authorize a transaction, enhancing security.
  • CoW Swap: A decentralized exchange protocol using batch auctions to minimize trading fees and avoid front‑running.
  • Buyback program: A mechanism where a project repurchases its own tokens to support price stability or reduce circulating supply.