SFUEL: The Governance Token that Fuels SparkDeFi

Let’s have a closer look at SFUEL and its role in advancing the cryptocurrency-based fintech platform, SparkDeFi.

What is a governance token?

A governance token allows holders to determine the future of a protocol. The governance token holders can direct changes concerning the project like proposing or deciding on the new features or even changing the government itself.

What is SFUEL?

SparkPoint Fuel, or simply SFUEL, is the governance token of SparkPoint DeFi platform SparkDeFi, a new DeFi token project by SparkPoint Technologies Inc., the same team behind SparkPoint (SRK). SparkDeFi is a full-service decentralized finance solution that combines a decentralized exchange or DEX (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. SparkDeFi is one of the major key component of the SparkPoint Ecosystem.

Token Specifications
Token Name: SparkPoint Fuel
Ticker Name: SFUEL
Total Supply: 150,000,000 (150 million) tokens
Blockchain / Protocol and Standard: Binance Smart Chain, BEP-20
Decimals: 18
Contract Address: 0x37ac4d6140e54304d77437a5c11924f61a2d976f

Statistics
🔗 SFUEL on CoinMarketCap
🔗 SFUEL on CoinGecko

SFUEL is listed on premier centralized exchanges (CEX) like BitMart Exchange and Bithumb Global and can be traded with some of the top tokens like Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT). SFUEL is also available on DEXs like SparkPoint’s newly launched SparkSwap and PancakeSwap and can be traded with Binance USD (BUSD), Binance Coin (BNB), and a number of other SFUEL pair with high liquidy, particularly in SparkSwap. The token generation event or the event when SFUEL was minted (which is almost the same as the launching of a token) took place in December 20, 2020.

🔗 Exchanges for SFUEL

What are the uses of SFUEL and its benefits to holders?

SparkDeFi DAO

SFUEL holders can govern and decide the path of the SparkDeFi platform through voting power on certain economic factors such as interest rate, collateral, Loan-to-Value (LTV) ratio, inflation, and liquidity pool rewards.

Mode of Payment

SFUEL tokens will be used for paying the platform’s 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 will be used as rewards in the Liquidity Staking and Pool-Based Staking when users stake either SRK, SFUEL or other tokens in SparkDeFi.

Governance Incentives

SFUEL token holders who participate in SparkDeFi governance for its continuous and sustained improvement and growth are entitled to SFUEL rewards.

What is the token distribution of SFUEL?

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.

Article was updated on June 26, 2021 to add more information about the token and the exchanges where SFUEL is available for trading or swapping.

Learn more about SparkPoint and SparkDeFi from the following links:

SparkPoint Website: https://sparkpoint.io/
SparkDeFi Website: https://srk.finance/

Trade SRK: https://srk.sh/trade
SRK-ETH on Uniswap: https://srk.sh/uniswap

Telegram Announcements (SparkPoint): https://t.me/sparkpoint
Telegram Announcements (SparkDeFi): https://t.me/SparkDeFiOfficial
SparkPoint Community on Telegram: https://t.me/SparkPointOfficial
SparkDeFi Community on Telegram: https://t.me/SparkDefi
SparkPoint Twitter: https://twitter.com/sparkpointio
SparkPoint Facebook: https://facebook.com/sparkpointio
SparkPoint Instagram: https://instagram.com/sparkpointio
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
SRK on CMC: https://coinmarketcap.com/currencies/sparkpoint/
SFUEL on CMC: https://coinmarketcap.com/currencies/sparkpoint-fuel/