Spendchain (SPND) will be renamed to Strike (STRK), and the conversion ratio of SPND to STRK is 1000 to 1.
Strike is an autonomous, decentralized money market enabling a mutable money market. Provide digital asset collateral to the Strike protocol based on the rate, and borrow digital assets from the protocol with over-collateralized assets. The entire Strike protocol is run by its community, there is no centralized control, and no team tokens exercise power over the governance of the protocol. Strike is designed to protect the balance between borrowers and suppliers, allowing liquidators to dispose of distressed vaults and charge a premium for the stability agreement. Strike users gain control by interacting with STRK tokens to govern and operate the platform by consensus.