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Spark Tokens(FXRP) Airdrop for XRP Holders

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Jahanzaib
@xabi
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Evening

The XRP surge continues, as the date of snapshot for the airdrop of Spark token for all XRP holders by Flare Network draws near. The snap shot will happen at 00:00 GMT on 12th December 2020. There will be 100 billion Spark Tokens created at the onslaught of the Flare Network and 45 billion will be airdropped to XRP holders as per following formula:

where Spark claimable = Total amount of Spark Claimable by an XRP address XRP owned = XRP in the address at the moment of snapshot XRP total = Amount of XRP in circulation XRP Ripple = XRP held by ripple associated accounts XRP NPE = XRP held in non-participating exchanges

Each claiming account will receive 15% of their eligible tokens at the launch of network. And the remaining Spark will be distributed within a period of 25-34 months. The distribution mechanism is designed to achieve a successful network launch and avoid excessive liquidity in market by free riders.

So, XRP holder wishing to claim the Spake Tokens need to be sure to move their XRP to self custody or on a supporting exchange. Here is the list of supporting exchanges.

The gains by XRP holders in past two weeks, outshine the Spark Tokens to be airdropped as their price is yet to be decided. But still it is worth a shot to be eligible for the airdrop by moving XRP to Self custody or a supporting exchange. After all its free money.

Posted Using LeoFinance Beta