PANews reported on March 7th that, according to on-chain analyst Yu Jin, the lending platform Spark transferred 570,000 USDS to a new multi-signature wallet two days ago, and then began making small, multiple purchases of SPK through the TWAP function of CoW Swap. It has already repurchased 1.84 million SPK (US$36,000).

Spark has approved a SPK buyback proposal, which involves setting aside approximately $35 million in operating reserves. Then, 10% of these surplus funds will be used each month to repurchase SPK. This buyback program is expected to last for 12 months.