⚡️Spark has started buying back SPK, and this is a solid positive signal— Using a gradual mechanism, executing small hourly purchases, they've already accumulated 5.3wu of SPK in buybacks, with plans to continue for 12 months. Talk is cheap; on-chain visibility is hard logic! With this step, Spark @sparkdotfi has officially entered the second phase: 'Surplus Hedging.' The scale is still small for now, but if this trajectory continues for one or two years, the impact could be very different. Take Maker (Sky) during the 2022 bear market as a reference—after similar gradual buybacks, the price increased by +25%. Aside from that, I think Spark's resilience during this round is also worth paying attention to— The current environment is far from friendly: bear market + BTC downturn + high macro risks. Many DeFi protocols have been exposed, TVL has been halved across the board, revenues are gone, and treasuries are starting to burn through reserves. Meanwhile, Spark's TVL has only slightly decreased, and the protocol is estimated to generate nearly $30M in annual revenue, with reserve funds and operational surpluses remaining consistently reliable. It's truly a low-key and steady model, with the potential to quietly thrive!