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SPK Pre-Farming Airdrop

Spark's pre-farming airdrop campaign rewards users based on usage of SparkLend and AAVE on Ethereum mainnet. Select users of those platforms during the pre-farming period will receive an airdrop, depending on how much and how long they used either platform during specific periods, also known as "seasons." See further details on qualification criteria for the airdrop, and the different seasons below.

Where can I check my airdrop amount?

You may check your airdrop amount by going to the Spark Pre-farm Airdrop Dashboard and entering your wallet address. Users can also see their accrued pre-farming SPK in the top right corner of the Spark App once they have connected their wallet.

How much SPK is allocated to pre-farming users?

SPK for pre-farming is allocated as follows:

  • Season 1 (Aug 20, 2023 - May 20, 2024):
    • 130,434,783 SPK
  • Season 2 pool (May 20, 2024 - day before airdrop launch):
    • SparkLend: 14,478,261 SPK per month (prorated on a per-second basis from May 2024 and onwards)
    • Aave: 7,239,130 SPK per month (prorated on a per-second basis from May 2024 and onwards)

How is SPK distributed to pre-farming users?

Season 1

  • 80% of Season 1 SPK allocation is distributed pro rata to users borrowing DAI and 20% is distributed pro rata to users supplying ETH during the Season 1 time period.

  • Season 1 calculations are based on the qualifying amount and total duration supplied.

Season 2

  • SparkLend: 80% of Season 2 SparkLend allocation is distributed pro rata to users borrowing USDS or DAI and 20% is distributed pro rata to users supplying ETH during the Season 2 time period.
  • Aave: Season 2 Aave allocation is distributed pro rata to users who supplied USDS into Aave during the Season 2 time period.

Season 2 calculations are done per block, based on the qualifying amount supplied in each block.

How long do users have to claim their SPK?

You may claim your SPK from the airdrop date until six months after the aidrdrop date. Any SPK which is not claimed during that period will be returned to the Spark ecosystem treasury.

Excluded behaviors and "anti-cheat" formulas

To ensure a fair airdrop, certain behaviors disqualify users from the pre-farming airdrop, including:

  • SparkLend: Lending sDAI while borrowing DAI or lending and borrowing ETH on the same account
  • Aave: “stablecoin looping” (i.e., supplying USDS and borrowing DAI or USDS and supplying USDS again, effectively providing a highly leveraged USDS position)

Details on the anti-cheat formulas are below.

SparkLend Anti-cheat formula

Below is the anti-cheat formula applied to screen for excluded behavior on SparkLend (don’t worry about this if you used the system legitimately):

Airdrop = 80% * (DAI Borrows + USDS Borrows - sDAI Supplies * sDAI Liquidation Threshold - sUSDS Supplies * sUSDS Liquidation Threshold) + 20% * (ETH Supplies - ETH Borrows / ETH Liquidation Threshold)

For clarity, here are some valid examples:

  • ✅ Supply wstETH, Borrow USDS - USDS amount is included
  • ✅ Supply rETH, Borrow USDS - USDS amount is included
  • ✅ Supply wstETH, Borrow USDS, Swap USDS for sUSDS - USDS amount is included
  • ✅ Supply ETH, Borrow USDS - Both ETH and USDS amounts are included in the airdrop
  • ✅ Supply rETH, Supply ETH, Borrow USDS - Both ETH and USDS amounts are included in the airdrop
  • ✅ Supply GNO, Borrow USDS - USDS amount is included
  • ✅ Supply wstETH, Borrow DAI - DAI amount is included
  • ✅ Supply rETH, Borrow DAI - DAI amount is included
  • ✅ Supply wstETH, Borrow DAI, Swap DAI for sDAI - DAI amount is included
  • ✅ Supply ETH, Borrow DAI - Both ETH and DAI amounts are included in the airdrop
  • ✅ Supply rETH, Supply ETH, Borrow DAI - Both ETH and DAI amounts are included in the airdrop
  • ✅ Supply GNO, Borrow DAI - DAI amount is included
  • ✅ Supply ETH - ETH amount is included
  • ✅ Supply ETH, Borrow wstETH - ETH amount is included
Invalid examples:
  • ❌ Supply sUSDS, Borrow USDS - FORFEIT AIRDROP
  • ❌ Supply sUSDS, Borrow DAI - FORFEIT AIRDROP
  • ❌ Supply sDAI, Borrow USDS - FORFEIT AIRDROP
  • ❌ Supply sDAI, Borrow DAI - FORFEIT AIRDROP
  • ❌ Supply ETH, Borrow ETH - FORFEIT AIRDROP
  • ❌ Supply wstETH, Borrow USDS, Deposit sUSDS as Collateral - FORFEIT AIRDROP
  • ❌ Supply wstETH, Borrow USDS, Deposit sDAI as Collateral - FORFEIT AIRDROP
  • ❌ Supply wstETH, Borrow DAI, Deposit sDAI as Collateral - FORFEIT AIRDROP
  • ❌ Supply wstETH, Borrow DAI, Deposit sUSDS as Collateral - FORFEIT AIRDROP

Note: Borrowing DAI and depositing it into sDAI using the Savings feature of Spark is accepted and does not count against the airdrop. It is only penalized if you supply sDAI as collateral to borrow against.

Aave Anti-cheat formula

To prevent gaming the incentives through "stablecoin looping", meaning supplying USDS and borrowing DAI or USDS and supplying USDS again, effectively providing a highly leveraged USDS position, the following formula is used to discount such behavior:

USDS Supplies - Sum_i(USDS+DAI Borrow Amount (in USD) / USDS+DAI Liquidation Threshold)