The SRK Buy Back And Burn History: From 20B To 10B, Where Are We Now?

Let’s trace back the #SRKBBnB events to know more about the 10B goal.

Drei Bongalos
Apr 23 · 8 min read

he 1st quarter of 2021 has come to an end and as per SparkPoint tradition, we ended the quarter by conducting the quarterly SRK Buy Back and Burn event. In this article, we will call it “SRK BBnB.”

In the previous write-up about SRK BBnB, we talked about the mechanism and importance of conducting the buy back and burn. To refresh our memory, Buy Back happens when a crypto project buys its own token to increase demand. Fewer tokens on the market mean higher demand, hence driving the value of the tokens upward. Burn events, meanwhile, happen when cryptocurrency miners and developers remove tokens or coins from circulation which slows down inflation rates or reduces the total circulating supply of coins. The act of burning effectively removes tokens from the available supply, increasing its relative scarcity.

These events are part of SparkPoint’s deflationary strategy to make SRK more attractive for long-term holders.

Read: SRK Buy Back & Burn: How It Works and Why We’re Doing It


We’ve already talked much about the SRK BBnB on our social media and announcement channels, having publication and countdowns there until we reached the D-Day of the event which falls on the last day of the quarter, well, on most occasion. The most recent SRK BBnB event had quite of a twist, in an unfamiliar fashion, there have been two events for Q1 2021. We’ll talk about that later.

For newbies and newcomers to the SparkPoint ecosystem, do you know when this series of events started? I’m pretty sure long-time fans and supporters already knew about this, but it’s a question that most of us knew the answer to but already forgot about it.

It began in the second quarter of 2019.

The computation of the value of tokens burned all throughout the timeline below is based on CoinMarketCap historical data for SparkPoint. The token’s recorded highest price per token on the day of the burn was used to compute the approximated value of tokens burned. All data and stats used in this article are purely from CoinMarketCap.

Here’s a timeline of the SRK BBnBs for the past 3 years.

Figure 1: The History of SRK BBnB

It was April 5, 2019, when the first-ever SRK burn happened. 2 billion SRK tokens were removed through burning, reducing the total supply from an initial 20 billion to 18 billion SRK tokens in the second quarter of 2019.

The 1st ever burn event doesn’t have a value back then but if we were to compute the value based on May 15, 2019 data — the earliest known record of SRK on CoinMarketCap, that 2 billion SRK would be equivalent to an astounding US $276,400!

It was followed by another burning event on July 25 on which 1 billion SRK were burned. At the end of 2019, the total supply went down to 15 billion when another 2 billion was burned on October 10, 2019. All in all, for 2019, a total of 5 billion SRK tokens were removed from circulation, which has an equivalent value of US $189,890*.

* Do note that the 1st ever-burn event doesn’t have a value (as per records on CoinMarketCap) so the total value of SRK tokens burned on Q1 2019 only includes Q3 and Q4 2019. SparkPoint’s record on CoinMarketCap started on May 15, 2019, so there’s no available data for the price and value of the burning event on April 5, 2019. But if we will add the value of the Q2 2019 burn event to the rest of the quarters, (based on the earliest known record on CoinMarketCap, the May 15, 2019 record) the total value for 2019 will climb to US $466,290.

SparkPoint continued with its burn events until the supply went down to 14 billion at the end of 2020. 1 billion SRK tokens were burned all throughout 2020, which costs almost US $640,000.

The most recent SRK BBnB happened on April Fool’s day. Well, that ain’t a joke. So here’s what happened. There have been two SRK BBnB in Q1 2021. The first one happened on March 30 which is very in line with the recent tradition of putting the schedule of the burn event on the 30th of the last month of the quarter which started on June 30, 2020 (Q2 2020), but it was followed by a surprise burn event on the night of April 1, 2021. So technically, the April 1 burn event fell on the 1st day of Q2 2021 but since it happened in a series after the initial burn event on March 30, it is considered to be part of the Q1 2021 SRK BBnB. An initial 65.9 million SRK token were burned and was followed by 90.5 million, which was valued at US $2.9 million.

The burning events from Q2 2019 up to Q1 2021 have removed a total of 9,156,408,111.066 SRK tokens from the total supply. Currently, the total supply is at 13,838,891,241 SRK tokens on which the burned tokens were already removed.

Before going back to the question on where we are currently at on our way to the 10B SRK goal. Let’s dive in on the different aspects of the quarterly SRK BBnBs with all relevant figures.

Figure 2 (right): The number of SRK tokens burned on the past SRK BBnB. Figure 3 (left): Price of SRK (highest of the day) on the day of burning.
Figure 4: The value of SRK BBnB of the past in USD.

We’ve briefly discussed above the history of the SRK BBnB of the past, now let’s count how many tokens were burned and how much every SRK BBnB cost per quarter or the actual value in USD on the day of the burning.

You can see in Figure 2 how many tokens were burnt on the previous SRK BBnB. From Q2 to Q4 2019, we can see how big SparkPoint went with the earliest burn events. Totaling to a humungous 5 billion SRK tokens were burned and cut off from the initial 20 billion total supply back then. But we see a downward trend in how many tokens SparkPoint has burned since the start of 2020. The highest recorded numbers were just 500 million SRK tokens in Q1 2020 with 53 million in Q3 2020 as being the lowest, compared to the billions that were burned in 2019.

But the equation changes when we see and observe Figures 3 and 4 which shows the actual value in USD of the past SRK BBnBs based on the price of SRK per token on the day of the burn event.

The upward trend on both graphs signified an increase in the price of SRK on every SRK BBnB and its actual value in USD which is in full contrast to the total number of SRK tokens burned in the previous quarters.

The price per SRK token had a significant jump from $0.0000168 in Q1 2020 to $0.018940 in Q1 2021, a record-breaking 112,638.0952% increase in just one year. The sky-rocketing increase in price also translated to a massive 34,464.9583% increase in actual value, from $8,390 to $2.9 million, in the same time period. It’s a super impressive feat for SparkPoint’s performance for 2020!

We can therefore conclude that SparkPoint has gained a big momentum that it pierced the sky above in terms of price performance. Those who have held and piled up SRK last year are surely enjoying the time of their lives right now. With that increase in price and value, these peeps are really enjoying their time on the moon right now. The mantra “SparkPoint to the moon” has become reality for these HODLers.

The leap in price performance in 2020 is so massive that SparkPoint continues to break its records of All-time highs. Let’s take a look at the graph below.

Figure 5: SparkPoint’s All-time highs.

We’re seeing now the price performance of SRK within 3 quarters, starting from July of 2020 up to March 2021. Statistics from July to December 2020 seem pretty average, but when the new year opened, we’ve seen a significant jump in price from 2020’s highest of $0.0029390 to $0.0032480 in January 2021. That’s how you open the year, SparkPoint! Breaking last year’s all-time high.

But the increase didn’t stop until it reached $0.02566 last month! We’re seeing a 690.0246% increase from January’s all-time high, beating all previous records of SparkPoint.

Here’s another fact, SparkPoint experienced its lowest price on the exact day when it reached its highest. More than a year ago, on March 14, 2020, SRK costs only $0.0000094 per token. The lowest price ever in the lifetime of SparkPoint. But take a look at how a year made a difference. Only a 272,879% increase.

A round of applause, please. 👏🏼

So how much is still left to burn?

Now, let’s go back to that question. Quick math, if there are still 13,838,891,241 SRK tokens, then you just have to take and burn 3,838,891,241 SRK tokens so that there will be 10 billion tokens left. Easy as that. But this leads to another question.

When will that 10 billion goal happen?

It’s uncertain when the total supply will go down to only 10B SRK tokens. Since SparkPoint uses 10% of its quarterly profit to buy back and burn SRK, it boils down to the quarterly profit of the company.

But SparkPoint is ready to take on this challenge to generate more income for the company and sustain the number of tokens to be burned in the future.

In a recent tweet by the company CTO, Rico Zuñiga, 2021 is all about profitability for SparkPoint. SparkPoint will narrow its focus to 6 bets that have been identified by the team as the most promising. SparkDeFi, SparkLearn, product improvements, IT-BPO services, obtaining of virtual currency exchange (VCE) license from the Central Bank of the Philippines, and the listing of SRK and SFUEL (the governance token of SparkDeFi) on top tier exchanges. These are the ingredients that the company has prepared to boost its profits and of course to sustain the significant growth that SparkPoint gained all these years.

The boost in profit of SparkPoint in the future will do a good deed on the upcoming SRK BBnB events. Who knows? The 10B goal might happen anytime soon. It’s just a matter of time now, knowing how SparkPoint persevering as it is, with its talented and amazing people behind the project, the 10B goal might happen sooner than expected.

Update: We have update Figure 3 with the correct statistics. We updated the Q1 2021 value on the graph from $0.0018940 to $0.0189400. Thank you for those who noticed!

Learn more about SparkPoint and SparkDeFi from the following links:

SparkPoint Website:
SparkDeFi Website:

Trade SRK:
Trade SFUEL:
SRK-ETH on Uniswap:

Telegram Announcements (SparkPoint):
Telegram Announcements (SparkDeFi):
SparkPoint Community on Telegram:
SparkDeFi Community on Telegram:
SpakPoint Twitter:
SparkPoint Facebook:
SparkPoint Instagram:
SparkDeFi Twitter:
SparkDeFi Facebook:
SparkDeFi Instagram:



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Drei Bongalos

Written by

Fueled with caffeine everyday. Tech-news enthusiast and fond of reading gadget reviews. Currently one of SRK’s Senior Marketing Specialists.


Be updated with the latest developments about SparkPoint. The project that aims to fast track mainstream adoption of blockchain and cryptocurrency through an ecosystem of practical products and services.