SparkDEX SPRK

Revenue fading

Revenue −57% over 30 days; paid to holders this week: 12% of the best week in 90 days ($2k against $17k). Also: part of holders revenue is paid out.

Dexs, Flare, 193 days of data

Not in the main ranking: Market cap below $1M

Market cap

$358k

price $0.00447 · 7d −12.9% · 30d −25.1%

FDV $4.2M (11.9× market cap)

source defillama

Counted per year

$99k

holders revenue of the last 30 days, $11k, × 365 ÷ 30, × type factor 0.75 (a mixed model counts 75%)

Mixedbuyback share 100%

Returns 9.6% of its market cap a year, using 100¢ of every $1 it earns.

Not a buyback: counts for 75% in the multiple (type factor 0.75), so the denominator is $99k instead of $132k.

Multiple

13.9×

peer median 17.6× (Dexs, 14 tokens), against 13.9× here

Run-rate

16.3×

last 7 days $2k × 52 × 0.75 (type factor) = $84k a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 13.9× (type factor 0.75: a mixed model counts 75%), 1.3× cheaper than its Dexs peers (median 17.6×, 14 tokens). It is itself the largest earner in the group. On total revenue: 10.5×, 1.7× cheaper than the revenue peer median.
Distribution
Mixed: Part buyback, part distribution or burn; the exact split is not known. Holders got $11k of $11k revenue in 30 days → buyback share 100%. DefiLlama: “5% of the fees are used in buybacks and burns of $SPRK”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 7% of the month's holders revenue; paid to holders this week: 12% of the best week in 90 days (more than half below peak). Revenue −18% over 7 days and −57% over 30 days, price −25% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Payout >50% below peakthis week's holders revenue is 12% of its best week in the last 90 days ($17k)
Data issue: chain mapping missingData issue (chain mapping missing): warning, scores are computed as usual

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $11k / $11k; last 30 closed days
To holders: Returns 9.6% of its market cap a year
FDV / dilution: $4.2M / 11.9×; FDV ÷ market cap
Price 7d / 30d: −12.9% / −25.1%
Revenue growth 7d / 30d: −18% / −57%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: —; trades mainly on exchanges
24h volume: $7k; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 10.5×; market cap ÷ revenue per year
Fee multiple: 3.2×; market cap ÷ fees per year
Distance to peak: 12%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)

Multiple over time

today 13.9× (scored) · peer median 17.6×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

No signals for this token yet.

Versus peers

Dexs · 1 tokens · median multiple 17.6×

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
SparkDEXleaderthis token	Mixed	13.9×	10.5×	100%	$11k	$358k	−57%

Score build-up30 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

30of 100

Valuation 22.7Momentum 8.7Divergence 0.0Quality 13.3penalties −15= 29.7

Valuation35%

65Valuation 64.8: HR half 56.2 (multiple 13.93×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 73.3 (revenue peer value 1.67×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%capped

35Momentum 34.9: m = 0.5·g7 −0.201 + 0.3·(ln(day jump 1.21) clamped ±1.5 = 0.190) + 0.2·g30 −0.840 = −0.212; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%capped

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

67Quality 66.7: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 7% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.12 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penalty −5 (dilution_above_2): dilution ratio 3.36 above 2.
Penalty −10 (low_liquidity): DEX liquidity unknown below $250k and 24h volume $4k below $1.00M.

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penalties−15

−5Dilution ratio above 2dilution ratio 3.36 above 2

−10Liquidity below $250k (dex) or 24h volume below $1M (cex)DEX liquidity unknown below $250k and 24h volume $4k below $1.00M

8 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 5 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 7, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token5 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

SparkDEX V3
Dexs · Flare
type buyback-burn · source text
“5% of the fees are used in buybacks and burns of $SPRK”
5% of the fees are used in buybacks and burns of $SPRK
adapter on GitHub ↗
SparkDEX V4
Dexs · Flare
type mixed · source label
“Token Buy Back: 10% of swap fees before 2026-05-18, 25% from 2026-05-18.”
Before 2026-05-18: 10% buyback-and-burn + 10% staking rewards. From 2026-05-18: 25% buyback-and-burn.
Token Buy Back
10% of swap fees before 2026-05-18, 25% from 2026-05-18.
Staking Rewards
10% of swap fees (before 2026-05-18 only).
adapter on GitHub ↗
SparkDEX Perps
Derivatives · Flare
type buyback-burn · source label
“Token Buy Back: From 2026-05-18: treasury share of trading fees used to buy back and burn SPRK.”
From 2026-05-18: the protocol treasury share of trading fees used to buy back and burn SPRK. Before that date: not reported separately.
Token Buy Back
From 2026-05-18: treasury share of trading fees used to buy back and burn SPRK.
adapter on GitHub ↗
SparkDEX V3.1
Dexs · Flare
type buyback-burn · source label
“Token Buy Back: 5% of swap fees before 2026-05-18, 25% from 2026-05-18.”
Before 2026-05-18: 5% buyback-and-burn + 5% staking rewards. From 2026-05-18: 25% buyback-and-burn. Plus Early Staking redemption penalty burns.
Token Buy Back
5% of swap fees before 2026-05-18, 25% from 2026-05-18.
Staking Rewards
5% of swap fees (before 2026-05-18 only).
Early Redemption Penalty
Early Staking redemption penalty burns.
adapter on GitHub ↗
SparkDEX V2
Dexs · Flare
type unclear · source text
“Money going to governance token holders”
Money going to governance token holders
adapter on GitHub ↗