SparkDeFi: Innovative Cryptocurrency-Based Fintech Platform
DeFi or Decentralized Finance is the future of banking. DeFi will take the power from the middlemen and give it back to the people. As we take a look at banking today, there are several inefficiencies that people are forced to pay for.
One big manifestation of these inefficiencies is the gargantuan buildings of banks that are filled with layers upon layers of middlemen who perform opaque functions. All these ineffective busywork can be abstracted away with code — smart contracts that don’t rely on middlemen to function.
With SparkDeFi, our goal is to bring the world closer to this utopian society built on top of a strong free market and away from disproportionately high commission charging intermediaries that serve antiquated purposes.
What is SparkDeFi?
SparkDeFi is a governance token-based DeFi platform that empowers individuals to unlock the true value of their cryptocurrency assets. It offers a Decentralized Exchange (DEX), Multi-Staking, P2P Lending and Borrowing, and DeFi Assets Protocols Management in a seamless, transparent, secure, inclusive, and interoperable approach.
With the SparkDeFi platform, users have the opportunity to choose from different staking options to earn from their assets. They can leverage their crypto assets including Non-Fungible Tokens (NFTs) as collateral while earning from savings pools in P2P Lending. Users can also manage their crypto assets portfolio in our DeFi Assets Protocols Management dashboard.
The SparkDeFi platform will provide the following solutions:
SparkSwap
- Our own Decentralized Exchange (DEX) for a “one-stop-shop” DeFi experience
- Instantly swap multiple cryptocurrencies in a trustless and decentralized manner
- Earn from the transaction fees when you provide liquidity
Multi-Staking
- Participate in the SRK-ETH and SFUEL-ETH liquidity staking pools and earn SRK or SFUEL, a SparkDeFi governance token
- Stake SRK tokens or SFUEL in our regular pool-based staking and collect SRK or SFUEL rewards on a regular basis
P2P Lending and Borrowing
- Use altcoins and Non-Fungible Tokens (NFTs) or cryptocollectibles such as game items, virtual estate, and digital artworks as collateral
- Microlending to democratize finance and promote financial inclusion
- Generate a stream of cash flow through the liquidity savings pool
DeFi Assets Protocols Management
- Seamlessly access and connect to various DeFi projects for an end-to-end DeFi experience
- Manage assets portfolio and collateralized debt positions (CDPs) in a simple and user-friendly dashboard
Decentralized Governance
- Governance of SparkDeFi will be delegated to SFUEL holders
- DAO members are responsible for the direction of the protocol via systematic voting
SFUEL Token
The SFUEL token is SparkDeFi’s governance token with a total supply of 150,000,000.00 tokens (one hundred fifty million). SFUEL will be launched as a BEP20 token on the Binance Smart Chain in Q4 of 2020.
SFUEL Token Distribution
To achieve our vision for SparkDeFi and SparkPoint in general, we will allocate 20% of the total supply for private and early supporters. We’re targetting to raise $950,000.00. We believe this amount is relatively small compared to other projects which raised millions of dollars.
Since the inception of SparkPoint, we’ve already proven that our team can start small yet capable of launching big. We will not conduct an Initial Coin Offering (ICO) and SFUEL tokens will be available to the public through an Initial DEX Offering (IDO).
The private sale and early supporter’s price is $0.03 and $0.06 respectively. While the Initial DEX Offering price will be $0.15. We will provide a total liquidity of $200,000.00 comprised of ETH and SFUEL tokens upon our initial DEX listing.
The expected SFUEL circulating supply at Token Generation Event (TGE) is 5,277,777.78 which has initial market cap of $175,000.00 at private and early supporter’s price and $791,666.67 at Initial DEX Offering price.
A significant aspect of the token distribution is the longer vesting period. This incentivizes the team only if they’re able to deliver the project. This is a more pragmatic, sustainable, and responsible approach.
Initial Market Cap at Token Generation Event
The initial circulating supply at Token Generation Event is 5,277,777.78 SFUEL tokens which represent 3.52% of the total supply. This supply will gradually increase based on the distribution plan schedule as described in the SFUEL Token Distribution table above.
We will not conduct an Initial Coin Offering (ICO). Instead, SFUEL tokens will be available to the public through an Initial DEX Offering (IDO). The private sale price is $0.03, the early supporter’s price is $0.06 and the Initial DEX Offering price will be $0.15.
At the private or early supporters’ price, the market cap is $175,000.00 and at the Initial DEX Offering price, the initial market cap is $791,666.67 at $0.15 per token.
Start date of the SFUEL Token private sale is on October 20, 2020 11:00 AM UTC.
Sign up for the SFUEL private sale whitelist now.
SparkDeFi Roadmap
Our team is looking to raise funding this year to be able to focus on the development and launch of the SparkDeFi platform in 2021. SparkDefi’s various products will be launched in stages starting with the SFUEL and SRK Liquidity Mining which will launch before the end of this year.
Next is our own DEX, SparkSwap, which will launch in Q1 2021. Then our P2P Lending and Borrowing platform will launch in Q3 2021. Our fourth and final SparkDeFi product is our DeFi Protocols Management platform which has a target testnet launch of Q4 2021 and a mainnet launch in 2022.
One of the biggest main points that we’ve learned in DeFi is the cost and speed of transactions. Because of this, our team has decided to launch SparkDeFi on Binance Smart Chain to take advantage of its speed and lower cost. Our team will also benefit from Binance’s strong support of the developer community. In this regard, we’ve submitted our interest to apply for a slice of their $100M Support Fund.
Our Team and Products
SparkDeFi is part of the ecosystem project of the SparkPoint team that grew out of the bear market. SparkPoint has been around for two years and has a strong track record of launching blockchain products.
SRK holders will be given priority in the private sale and are entitled to a quarterly airdrop distribution beginning this Q4 2020.
SparkPoint’s token, SRK, is one of the few tokens that has an ROI of over 1,000% according to CoinMarketCap and CoinGecko data. Our small but high performing team has brought SRK to an ATH market cap of $20M+ (as of Aug 5, 2020) with a bootstrapped funding of less than $50K.
SRK holders will benefit from the SparkDeFi platform because the SRK token will also be utilized in its staking, swapping, and P2P lending solutions. As early supporters of the SparkDeFi platform, SRK holders will be given priority in the private sale. They are entitled to a quarterly airdrop distribution beginning this Q4 2020.
Learn more about SRK on CoinMarketCap.
A diverse group of leaders, entrepreneurs, and professionals with 75+ years of combined experience in finance, software development, education, marketing, and design.
In the last two years that we’ve been operating, we’ve also launched several products including:
- SparkPoint Cryptocurrency Wallet and DApps Browser (11K+ downloads)
- Crypto Slicer Game (23K+ downloads)
- Crypto Burst Game (14K+ downloads)
- Crypto Shooter Game Early Access (453 downloads so far)
- Crypto Slicer Game NFTs (Non-Fungible Tokens)
- SparkEarn and SparkLearn (21K+ registered users)
- DLX Food Delivery and Logistics App (on hold)
Our team is composed of a diverse group of leaders, entrepreneurs, and professionals with 75+ years of combined experience in finance, software development, education, marketing, and design. We are continuously improving and growing our team to deliver SparkPoint’s mission and vision of global cryptocurrency adoption.
Our Community
SparkPoint has a strong global community of supporters, advocates, and early adopters. SparkDeFi’s early users will come from this enthusiastic community.
Statistics as of Oct 14, 2020:
Twitter: @sparkpointio 18.8K followers, @SparkDeFi 835 followers
Telegram: SparkPoint Official (EN) 6,400 members, SparkPoint Announcements 3,492 subscribers, SparkDeFi Official (EN) 195 members
SparkPoint Wallet downloads: 11K+ downloads
Games downloads: 38K+ downloads
SparkEarn and SparkLearn: 21K+ registered users
SRK Token Holders: 5,085 addresses
Others (FB, IG, product accounts, etc.): 12K+
Sign up now in our SFUEL private sale whitelist: https://forms.gle/ML8ZENTmEq7z3daJA
Private sale starts on October 20, 2020 11:00 AM UTC.
Learn more about SparkPoint and SparkDeFi from the following links:
SFUEL Private Sale Whitelist: https://forms.gle/ML8ZENTmEq7z3daJA
SparkPoint Website: https://sparkpoint.io/
SparkDeFi Website: https://srk.finance/
SRK-ETH on Uniswap: https://srk.sh/uniswap
Trade SRK: https://srk.sh/trade
Telegram Announcements: https://t.me/sparkpoint
SparkDeFi Telegram: https://t.me/SparkDeFi
SparkDeFi Twitter: https://twitter.com/SparkDeFi
SparkDeFi Facebook: https://www.facebook.com/SparkDeFi
SparkDeFi Instagram: https://www.instagram.com/sparkdefi/
LinkedIn: https://www.linkedin.com/company/sparkpointio
GitHub: https://github.com/sparkpointio
CoinMarketCap: https://coinmarketcap.com/currencies/sparkpoint/
