SparkSPK

The governance and staking token of Spark, which lends and invests stablecoin deposits from the Sky ecosystem.

Rank #380Since June 2025

Price on 31 Oct 2026

C$0.0252 +11.4% since 31 Jul 2026 · 90.0% below its all-time high

The short version

Spark is a capital allocator within Sky (formerly MakerDAO): SparkLend, Spark Savings and the Spark Liquidity Layer put Sky's USDS stablecoin to work, with US$9.06B of deposits on DefiLlama. It is a Sky SubDAO with no venture funding, and SPK launched on 17 Jun 2025. Part of revenue funds SPK buybacks, which are held rather than burned; about 200M SPK had been bought by 28 Oct 2026. On 31 Oct 2026 one SPK cost C$0.0252. From 31 Jul 2026 to 31 Oct 2026 its price changed +11.4% in Canadian dollars, and it was 90.0% below its all-time high of C$0.2510 set on 23 Jul 2025.^[1]

Checked 31 Oct 2026 · 13 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$0.0712 (24 Apr 2026) · low C$0.0183 (19 Aug 2026) · -48.9%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$0.0252	US$0.0181
30 Sep 2026	C$0.0334	US$0.0234
31 Aug 2026	C$0.0258	US$0.0186
31 Jul 2026	C$0.0222	US$0.0158
30 Jun 2026	C$0.0245	US$0.0172
31 May 2026	C$0.0330	US$0.0239
30 Apr 2026	C$0.0490	US$0.0361
31 Mar 2026	C$0.0284	US$0.0205
28 Feb 2026	C$0.0537	US$0.0393
31 Jan 2026	C$0.0429	US$0.0318
31 Dec 2025	C$0.0306	US$0.0223
30 Nov 2025	C$0.0416	US$0.0297

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$0.0252^[1]
3-month change: +11.4% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 90.0% below its high of C$0.2510 (23 Jul 2025)^[1]
Market rank: #380, market value about C$86.1M^[1]
Kind: Token · Ethereum (ERC-20)
Started: June 2025

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?NoSpark docs: all 10B minted and further emissions permanently disabled^{[2, 3]}

Can anyone freeze or take coins from holders?NoGoPlus finds no blacklist, pause or balance-change function^[3]

Can the token's contract code be changed?NoFixed contract code on Ethereum, not a proxy^[3]

Is the supply capped?Yes10B maximum; further emissions permanently disabled per Spark docs^[2]

Any scheduled unlocks in the next 12 months?YesAbout 1.2-1.65B SPK, roughly 30-50% of circulating, mostly Sky farming rewards^{[2, 4, 5]}

Does a team or foundation hold over 10% of supply?YesSubDAO proxy holds about 10-12% and team tokens (12%) are still vesting^{[6, 3, 2]}

Do network fees reach coin holders?Yes25% of surplus revenue funds SPK buybacks, held by the SubDAO^{[2, 7]}

Main network hacked or halted in the past 2 years?NoNo exploit of Spark in DefiLlama's hack records^[8]

Is a regulator or court case targeting the coin itself?NoNo live regulator or court case naming Spark found^[9]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Structure: Sky SubDAO; all revenue flows to the DAO, with no venture round^[6]
SubDAO holdings: The Spark SubDAO proxy holds 10-12% of supply^{[6, 3]}
Holders: Top 10 Ethereum addresses hold 87.3%; the largest holds 46.8-53.7%^{[10, 3]}

Supply

In circulation: 3.42B SPK of a 10.00B maximum (34.2%)^[1]
Fully diluted value: 2.93 times its current market value^[1]
Allocation: 10B total: Sky farming 65%, ecosystem 23% (unlocked Jun 2026), team 12% (vesting over 3 years)^[2]
Unlocks: About 1.2-1.65B SPK in 12 months, roughly 30-50% of circulating, mostly Sky farming rewards^{[2, 4, 5]}
Supply data: Circulating 3.08B on CoinMarketCap versus 4.28B on Spark's own endpoint^{[11, 10]}

Use and fees

Deposits: US$9.06B (DefiLlama); SparkLend borrowing US$2.89B in Q3 2026, up 73%^{[7, 9]}
Fees: US$188.0M of fees, US$9.16M of revenue and US$4.07M to holders in the past year^[7]
Buybacks: 25% of surplus USDS funds SPK purchases by 90-day TWAP; tokens return to the SubDAO^[2]

Trading

Daily trading: About C$17.0M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 12.62% of its market value changes hands each day^[1]
20-week average: 3.2% below its 20-week average price^[1]
1-year change: -48.3% in C$^[1]^[12]

History

Not a forecast

Coins ranked 201-500 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 8,067 cases, 1,187 coins

33% were higher a year later^[13]

Typical result: Median -38% after a year; 33% higher after two years
Lost half or more: 44% within a year
Against Bitcoin: 11% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

1 red flag found

Red flag: About 1.2-1.65B SPK, roughly 30-50% of circulating supply, is scheduled for release in the 12 months after 31 Oct 2026, mostly Sky farming rewards.^{[2, 4, 5]}

Q3 2026 net revenue fell 30% to US$4.41M after reward rates were cut from 0.5% to 0.2% in July.^[9]
The 22 Oct 2026 spell sent 341,970 USDS to the SPK buyback executor.^[2]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.