Spark Protocol Repurchases Over 100M SPK Tokens Amid Declining Revenue

Spark Protocol has been steadily repurchasing its native SPK token using revenue generated by the protocol itself. The buyback effort, funded through a structured treasury surplus allocation, represents one of the more methodical approaches to token supply management in DeFi right now.

The program was first proposed and approved in early 2026 with governance proposal SAEP-09, which carved out 10% of Spark's monthly surplus for ongoing buybacks over a one-year period. The protocol secured roughly $35 million in operational reserves before directing excess revenue toward repurchasing SPK on the open market.

According to on-chain data, the first notable buyback appeared in March 2026 with approximately 1.84 million SPK acquired. By early April 2026, Spark dropped around $572,000 to scoop up 26.66 million SPK in a single move, representing roughly 1% of the tokens in circulation at the time.

With a total supply of 10 billion tokens and approximately 1.7 billion currently in circulation, Spark's buyback program is aimed at reducing the token supply and increasing each remaining token's share of governance power and staking rewards.