What Is SparkPoint Fuel (SFUEL)?
SparkPoint Fuel (SFUEL) was launched on December 20,2020 and is the governance token of SparkDeFi, Sparkpoint’s decentralized finance platform
SFUEL is a new DeFi token project by SparkPoint Technologies Inc., the same team behind SparkPoint (SRK). SparkPoint Technologies Inc. is a duly registered corporation in the Philippines under the SEC. The project aims to fast track mainstream adoption of blockchain and cryptocurrency through an ecosystem of practical products and services.
SparkDeFi is a full-service decentralized finance solution that combines a decentralized exchange (SparkSwap), liquidity (SparkStake) and pool-based (SparkPool) staking, Ethereum ERC-20 to BSC BEP-20 bridge (SparkBridge), P2P lending and borrowing (SparkLend), and DeFi assets protocols management (SparkDash) in a seamless, transparent, secure, inclusive, and interoperable platform.
The SparkDeFi platform is composed of:
Automated market maker decentralized exchange that supports various cryptocurrencies similar to Uniswap but operates on the Binance Smart Chain platform. Offers users an end to end “one-stop-shop” DeFi experience.
Cryptocurrency staking that rewards liquidity providers with SRK or SFUEL tokens. Users can participate in different liquidity staking options.
Cryptocurrency staking that rewards pool stakers with SRK or SFUEL tokens. Users can participate in different pool staking options.
Cross-blockchain bridging for transferring Ethereum ERC-20 SRK to Binance Smart Chain as BEP-20 SRKb tokens. Also supports other ERC-20 tokens.
SparkLend
Blockchain-based P2P lending marketplace that leverages various cryptocurrency assets and Non-Fungible Tokens (NFTs). Supports altcoins and Non-Fungible Tokens (NFTs) or cryptocollectibles such as game items, virtual estate, and digital artworks as collateral. Offers microlending to democratize finance and promote financial inclusion. Enables users to generate a constant stream of cash flow through our liquidity savings pools.
SparkDash
Aims to make DeFi easier and accessible to everyone including non-technical users. Enables seamless access to various DeFi Protocols using a powerful DeFi Protocols Management platform. Users can manage efficiently their assets portfolio and collateralized debt positions (CDPs) in a simple and user-friendly dashboard for an end-to-end DeFi experience.
SFUEL Token
The SFUEL token is SparkDeFi’s governance token that enables the delegation of governance of the SparkDeFi platform to SFUEL holders. These DAO members are responsible for the direction of the protocol through systematic voting.
SFUEL is the native governance token that is used for:
- SparkDeFi DAO: decentralized governance of the SparkDeFi platform
- Mode of Payment: paying for fees in SparkDeFi either in the form of interest income for the lenders and savers or interest payments from the borrowers
- Staking Rewards: SFUEL tokens are used as rewards in our Liquidity Staking/Mining and Savings Pools when users stake either SRK or SFUEL pairs
- Governance Incentives: SFUEL token holders who participate in SparkDeFi governance for its continued and sustained improvement and growth are entitled to SFUEL rewards
How Many SFUEL Tokens Are There in Circulation?
The SFUEL token was launched on the Binance Smart Chain mainnet on December 20, 2020 with an initial total supply of 150 Million SFUEL tokens.
Of the initial total supply, 18.8889% of the tokens are distributed to private sale participants with 6 months vesting and 16.67% monthly distribution. 1.1111% to early supporters with 3 months vesting and 33.33% monthly distribution.
50% or 75 Million SFUEL tokens are allocated for liquidity and staking rewards with a distribution period in accordance with the staking rewards program schedule.
10% is allocated to the team with 2 years cliff and 5 years vesting at 20% yearly distribution. Another 10% to marketing and community airdrops. And the last 10% is reserved as contingency and is locked for 5 years.
Who Are the Founders of SparkPoint?
SparkPoint is the brainchild of Andrino Agnas, a CPA and cryptocurrency investor based in the Philippines. Andy currently serves as the Chief Executive Officer of SparkPoint. Rico Zuñiga, a serial tech entrepreneur and early advisor of SparkPoint, currently serves as its Chief Technology Officer. Rico has been in the tech industry for more than 16 years and is one of the pioneers in the Philippine tech startup industry.
SparkPoint started with a staff of 2 in 2018 and was able to grow to 17 full-time and 5 part-time employees in Q1 2021. The company continues to rapidly expand and grow to ensure the delivery of its roadmap.
SparkDeFi is a flagship project of SparkPoint with a long-term roadmap that spans from 2020 to 2022.
Where Can You Buy SparkPoint Fuel (SFUEL)?
SFUEL is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.
PancakeSwap offers the best liquidity for its SFUEL/WBNB and SFUEL/BUSD pairs. SFUEL is also tradable on BitMart (SFUEL/ETH) and Bithumb Global (SFUEL/USDT).
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