SPARK
SPARK
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SPARK presents significant structural, dilution, and informational risks. Two sections suffered from severe data gaps and could not be evaluated due to identity verification failures and query contamination with unrelated entities (Apache Spark, marketing agencies, etc.): Active Development (-1.0) and Team and Governance (-1.0). For the remaining four sections (Community Support, Tokenomics, Market and Use Case, and Security and Audit History), each scored 3.5/10, resulting in a redistributed weighted average of 3.5/10. While the protocol layer (Spark Protocol within the Sky ecosystem) shows structured multi-component audit coverage (SparkLend, PSM, Gov Relay) and no documented security exploits or regulatory enforcement, the asset faces substantial structural headwinds. These include an unresolved ~92.7% unrecovered drawdown from all-time highs, heavy forward dilution with ~70% of the 10 billion SPK supply locked and vesting through 2035, weak holder governance participation (1% proposal submission threshold), and unresolved identity ambiguity across different Spark-named initiatives.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About SPARK (SPARK)
SPARK (also referenced as SPK) is the governance and staking token associated with Spark Protocol within the Sky (formerly MakerDAO) decentralized finance ecosystem. Operating primarily in connection with Ethereum-based decentralized lending tooling, the protocol utilizes a lending framework derived from the Aave v3 codebase, alongside modules such as the Spark Peg Stability Module (PSM) and cross-chain governance relays. The token is designed to participate in protocol governance and staking mechanisms.
The asset has a maximum total supply of 10 billion tokens, with distribution structured as 65% for community farming, 23% for ecosystem growth, and 12% allocated to the team, scheduled to vest through May 2035. On-chain governance requires a 1% total supply threshold for proposal submissions, creating a concentrated governance process among its holder base. While the underlying protocol infrastructure maintains documented audits for components including SparkLend, the Peg Stability Module, and oracle systems, the token contract itself lacks independent third-party audit records.
SPARK has experienced a severe market drawdown, falling approximately 92.7% from an all-time high of $0.1845 to approximately $0.0135. With only 28% to 31% of the total supply in circulation, the token remains subject to ongoing dilution pressure from scheduled emissions and unlocks over its ten-year release horizon. The project also faces informational challenges stemming from identity overlap with unrelated entities and other crypto initiatives bearing the Spark name.