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Sky has removed the SPK rewards for staking SKY, which combined with buybacks can reduce the net issuance of SPK by 40%.
GateNewsBot
Odaily Planet Daily reports that Sky has removed the Spark (SPK) token rewards for staking SKY tokens. The official Sky account on X stated that this move will reduce the SPK emission by approximately 30%. Combined with the proposed updates to Spark’s buyback parameters, these adjustments are expected to reduce the net emission of SPK by 40%.
Based on current net income and SPK prices, this is equivalent to reducing emissions by approximately $23 million over the next 12 months.
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