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Flare Network will distribute 45.8 billion free Spark (FLR) to XRP holders

cryptocurrency

TL;DR Breakdown:

  • Flare Network over 45 billion Spark tokens will be airdropped to XRP investors who participated in the snapshot.
  • This represents about 45 percent of the max number of Spark that will be created by the blockchain company.

About a week after the Spark (FLR) airdrop snapshot for XRP holders, the blockchain company behind the program has finalized the total number of tokens that will be distributed to XRP investors. According to a recent publication by Flare Network, more than 45 billion Spark tokens will be airdropped to the investors next year. This represents about 45 percent of the max supply of FLR to be created by the company.

A precise number of 45,827,728,412 FLR tokens will be airdropped to the XRP investors that held their coins on exchanges and digital currency wallets in support of the program. As the company’s CEO Hugo Philion commented, the Spark tokens shall be airdropped to the participating investing in a ratio a little greater than 1:1. Thus, XRP holders are going to receive a 1.0073 FLR token for any coin they held on eligible exchanges and wallets when the snapshot was observed. 

Flare Network will distribute over 45 billion Spark for free

This simply means that XRP held in cryptocurrency exchanges like Kraken, Binance, Coinbase, etc., including popular crypto wallets like Ledger, will freely receive the tokens from Flare Network when it finally airdrops. It remains unknown how and if the Spark will perform well when it launches. However, it’s worth keeping in mind that the development reportedly stems from the partnership between Ripple and the blockchain company.

The blockchain payment company Ripple has partnered with Flare Networks to enable a system that will allow the XRP users to interact with other blockchain networks. 

Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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