What Is SparkPoint (SRK)?
SparkPoint or officially, SparkPoint Technologies Inc., is a duly registered corporation in the Philippines under the SEC. The project was launched on October 5, 2018 and is one of the pioneer cryptocurrency startups in the Philippines. The project aims to fast track mainstream adoption of blockchain and cryptocurrency through an ecosystem of practical products and services.
SparkPoint started with an initial funding of $50,000. With only this minimal capital combined with discipline, determination, and hard work, the team was able to launch various blockchain-based products and services including SparkPoint Wallet, SparkLearn, SparkPlay, SparkEarn, and SparkDeFi. These products and services have collectively reached hundreds of thousands of users and are steadily growing.
The SparkPoint Ecosystem is composed of:
Non-custodial mobile cryptocurrency wallet that natively supports various cryptocurrencies including SparkPoint (SRK), Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other ERC-20 tokens. It also offers built-in Decentralized Exchanges including Uniswap, ChangeNOW, and Changelly. A virtual currency exchange (VCE) license application is ongoing to legally enable fiat integration in the SparkPoint Wallet.
E-learning platform focused on educational content about blockchain technology, cryptocurrency, and financial literacy. The platform currently offers free courses for these topics and is continuously being improved through UI/UX enhancements, onboarding of new mentors, and integrating a Learn-to-Earn model. Education is at the heart of SparkPoint.
Collection of mobile casual games with cryptocurrency as central theme. Currently available games include Crypto Slicer, Crypto Burst, and Crypto Shooter. Tournaments and achievement bounties are being conducted regularly as part of SparkPlay’s Play-to-Earn (P2E) gaming model. P2E is an emerging paradigm in gaming where a significant chunk of value goes to players. Using blockchain technology, players are empowered to truly own game items and earn cryptocurrency rewards.
SparkPoint referral and rewards program where users can earn SRK and other tokens from sponsors by performing simple bounties. SparkEarn accounts are also currently being used as a single sign-on (SSO) account for SparkLearn and future SparkPoint services including SparkPlay and SparkDeFi.
A governance token-based platform that empowers individuals to unlock the true value of their cryptocurrency assets. SparkDeFi offers an AMM Decentralized Exchange, Liquidity and Pool-Based Staking, P2P Lending and Borrowing, and DeFi Assets Protocols Management in a seamless, transparent, secure, inclusive, and interoperable approach.
Features of SparkDeFi that are already available include:
- Liquidity Staking
- Pool-Based Staking
- SparkBridge for bridging ERC-20 SRK (Ethereum) to Binance Smart Chain as BEP-20 SRKb token
- SparkSwap AMM Exchange. An early preview of our automated market maker decentralized exchange.
SRK is the native utility token that is used for:
- Payment for SparkLearn courses
- Prizes in SparkPlay tournaments and achievements
- Payment for SparkPlay game NFTs
- Rewards for completing bounties in SparkEarn
- Rewards for Liquidity Providers and Stakers
- Payment for SparkPoint IT-BPO services
How Many SRK Tokens Are There in Circulation?
The SRK token was launched on the Ethereum mainnet on March 14, 2019 with an initial total supply of 20 billion SRK tokens. A series of token burns have reduced the total supply down to 14,368,540,937 SRK tokens. Quarterly token burns are scheduled in the future to reduce the total supply to its final fixed maximum value of 10 billion SRK tokens. There are currently 6,486,932,911 SRK tokens in circulation.
Of the initial total supply, 20% of the tokens were distributed to private sale participants. A minimal amount was allocated for sale to avoid any sudden fall in the price of SRK in the market. 7% of the tokens were allocated for marketing and airdrops, and 10% for community development programs. Majority of the tokens were allocated for SparkPoint Ecosystem Development at 38%. Most of the tokens that were burned were also part of this allocation. As for the rest of the tokens, 10% were allocated for the Founders, 5% for the current team, another 5% for future team members, and the remaining 5% for advisors.
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.
Where Can You Buy SparkPoint (SRK)?
SRK is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.
BitMart currently offers the best liquidity for SRK with support for both SRK/BTC and SRK/ETH pairs. Uniswap offers a decentralized option for trading SRK with Ethereum (ETH) and other ERC-20 tokens. P2PB2B offers a Tether (USDT) option.