The Spark project team has transferred 570,000 USDS to a multi-signature address and has repurchased 1,840,000 SPK.

BlockBeats News, March 7th, according to Ashes Monitor, the lending platform Spark has passed a SPK buyback proposal. The project team transferred 570,000 USDS to a new multisig wallet the day before yesterday, and then started making small multiple purchases of SPK through CoW Swap's TWAP function. Currently, they have bought back 1.84 million SPK (about $36,000).

Spark's buyback plan is to set aside $35 million in the treasury as operational reserve funds, with any excess funds being used to buy back SPK at a rate of 10% per month. This buyback is expected to last for 12 months.