- XRP holders are set to claim free Spark tokens
- Four exchanges confirm their support for the forthcoming Flare airdrop
- XRP increasingly gains traction and use cases
Holders of the native token of Ripple – XRP (XRP) – are getting ready in a big way with about 1 billion XRP tokens to claim free Spark tokens. In a recent retweet by Flare Networks; the network updated its followers on the distribution of 980,000,000 XRP tokens to 17,077 XRP accounts last week.
Flare Network Creates a Governance Token to Be Used as Collateral Within applications
The Flare Network is a Turing-complete smart contract platform, and the platform integrated the Ethereum Virtual Machine (EVM), according to the whitepaper. Spark – the native asset of the platform – is a governance token that users can use as collateral within applications. Flare Network created the platform to “trustlessly release tokens from non-Turing complete networks like XRP onto Flare for them to be used in Turin complete smart contracts.”
According to Flare, they will distribute the Spark tokens to XRP investors who self-custody as well as those that keep their tokens in digital currency trading platforms that support the airdrop. Flare said:
“If you self custody, the method of claiming the Spark token is simply to set the Message Key field on your XRP Ledger address to your Flare address. If your XRP is held at a supporting exchange, they will handle the claim process and distribution for you.
…If you self custody, your Spark tokens will be delivered by a set of smart contracts operating on the Flare network either at launch or as soon as the network registers your claim from reading the XRPL. If you hold your XRP at a supporting exchange, they will deliver the Spark tokens to your account at the exchange.”
Ripple News Today – Four Exchange Confirm Their Support for Spark Airdrop
Many top digital currency trading platforms are yet to make known their plans to support the Flare airdrop. However, four crypto exchanges have already confirmed their support. Those four exchanges include Gatehub, AnchorUSD, Bitrue, and Uphold. Uphold is one of the first top trading platforms to announce support for the distribution of the token due to user demand.
In a tweet, the crypto exchange said:
After fervent public commentary: we are delighted to announce that Uphold is supporting the Spark Token Airdrop. You will receive Spark Tokens on a 1:1 basis to the amount of XRP you hold on December 12, 2020 – the ‘snapshot’ date. XRP holders are set to receive the new token on a ratio of 1:1 on the snapshot day, which is set to Dec. 12 this year.