Spark, a decentralized lending protocol within the Sky ecosystem, has announced a fresh incentive campaign. The program, called ‘RED Season,’ is part of the newly introduced Spark Rewards initiative aimed at user participation.
Users can qualify for the distribution of 11.5 million RED tokens with a total value of $6 million under this campaign. A program rewards users with tokens based on their completion of particular onchain actions throughout each week of the event.
Spark operates RED Season alongside blockchain Oracle provider RedStone, as per their announcement. According to the partnership, RedStone will link its price data to Spark’s presently implemented Oracle framework.
Spark depends on Chainlink and Chronicle for data needs, while RedStone is the third integrated Oracle source. Multiple Oracle integrations will improve data accuracy and enhance the security features of the protocol.
Platform participants obtain RED token rewards by adding cbBTC to the SparkLend smart contract, which operates on the Ethereum network.
Spark explained that the RED Season campaign establishes an incentive program for users to advance Ecosystem development through participation in Decentralized Finance services.
Sam MacPherson, CEO and co-founder of Phoenix Labs explained that the rewards system boosts engagement while supporting decentralization. He noted that Spark Rewards was designed to build a more substantial alignment between users and protocol development.
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Multi-Oracle Strategy Marks a Technical Milestone in DeFi Infrastructure Evolution
Spark’s inclusion of RedStone signals a broader trend toward decentralization in Oracle usage across DeFi. Most decentralized protocols still rely on one Oracle provider, which can increase risks during market fluctuations.
RedStone, together with Chronicle and Chainlink, helps Spark establish itself as a platform that uses multiple Oracle solutions. The arrangement provides better security measures to protect smart contracts and users from manipulation attempts.
Multiple institutions, including BlackRock and Apollo, have chosen RedStone as a tokenization partner through their relationship with Securitize. The recent institutional partnership enhances Spark’s reward system and long-term strategic goals.
Spark’s performance continues to climb, as the platform now handles $2.1 billion worth of protocol-linked liquidity. The available financial data reveals that RedStone produces approximately $130 million in annualized profit.
Spark introduced the Tokenization Grand Prix in 2023 to tokenize traditional assets within DeFi with a prize pool of $1 billion. The program successfully enticed leading companies BlackRock Superstate and Apollo to join its ranks actively.
The RED Season campaign reinforces Spark’s strategy of combining user incentives with technical innovation to scale securely.
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