XRP News Today: SparkDEX Launches $SPRK on Flarepad, DeFi TVL Surges 650% to $100M

SparkDEX, the leading decentralized exchange (DEX) on the Flare blockchain, has announced the launch of its native token, $SPRK, scheduled for July 29, 2025. The token will debut via Flarepad, a launchpad developed by TrustSwap, marking the first full-scale initial DEX offering (IDO) on the Flare network [1]. This event is positioned as a pivotal milestone for Flare’s decentralized finance (DeFi) ecosystem, which has experienced significant growth in recent months, including a 650% surge in total value locked (TVL) to over $100 million in early July [1]. Trading volume on SparkDEX has also tripled to $3 billion, with unique users surpassing 2,500 following the integration of Tether’s omnichain stablecoin USDT0 [1].

Flare, an Ethereum Virtual Machine (EVM)-compatible layer one (L1) blockchain, emphasizes interoperability and has a market capitalization of $1 billion. SparkDEX operates as the top protocol on Flare by TVL, according to DefiLlama [2]. The DEX’s $SPRK token will serve dual purposes: governance and utility. Holders will participate in protocol development decisions, while liquidity providers, traders, and ecosystem participants will receive token rewards. The launch coincides with Flare’s broader plans to tokenize XRP as FXRP, creating a non-custodial bridge to enable XRP-based DeFi applications. This initiative aims to position SparkDEX as a global hub for XRP-based decentralized finance (XRPFi) [1].

The Flare network’s native token, FLR, has seen a 100% price increase from its April low, with 24-hour trading volume rising over 240%, per CoinGecko data. This growth aligns with key catalysts, including the May 2025 launch of USDT0 on Flare, which injected liquidity into the network, and the introduction of DeFi-enabled FAssets rewards to incentivize user participation [2]. Analysts attribute Flare’s rising TVL—quadrupling from $50 million to $224 million since April—to these developments [2].

SparkDEX’s token launch is structured in two phases, beginning on July 17, with the first phase aiming to raise $23.5K, as reported by Gate.com [9]. The $SPRK token is expected to enhance Flare’s DeFi offerings, which now include lending, perpetual trading, and a staking protocol called Firelight. These innovations create a “robust set of yield opportunities for XRP,” according to Max Luck, Flare’s head of growth [2]. XRP itself has surged over 60% in the past month, reaching near $3.30, further amplifying interest in Flare’s ecosystem [2].

The SparkDEX team includes Alexi Atlas (co-founder of Quickswap) and Steve (co-founder of Metavault and GrizzlyFi), alongside strategic support from Lunar Digital Assets for marketing and public relations [1]. The project’s focus on non-custodial, transparent finance aligns with Flare’s vision, distinguishing it from custodial XRP yield strategies prevalent in the broader market [2]. Despite challenging altcoin market conditions, SparkDEX emphasizes utility-driven growth, leveraging its TVL dominance on Flare to attract institutional and retail participants [1].

Analysts project FLR could reach $0.03 based on institutional backing and DeFi momentum, though the SparkDEX team underscores that the $SPRK launch prioritizes expanding governance and utility over price speculation [8]. The token’s integration into Flare’s ecosystem, combined with XRP’s rising profile, positions the platform to attract further attention as a premier DeFi outlet for XRP [2].

Source: [1] [SparkDEX Ignites DeFi Momentum with $SPRK Token Launch on Flarepad This July] (https://coingape.com/blog/sparkdex-ignites-defi-momentum-with-sprk-token-launch-on-flarepad-this-july/) [2] [FLR Price Hits 6-Month High Amid SparkDEX Token Launch Buzz] (https://thedefiant.io/news/markets/flr-price-hits-6-month-high-amid-sparkdex-token-launch-buzz) [8] [Flare ($FLR) Targets $0.03 on Institutional & DeFi Momentum] (https://cryptonews.com/news/flare-network-eyes-0-03-institutional-backing-defi-growth-fuel-flrs-momentum/) [9] [Release Calendar of Crypto Project] (https://www.gate.com/upcoming-event/crypto-project/release)