Flare is a new blockchain network based on the Flare Consensus Protocol - the first Turing Complete Federated Byzantine Agreement protocol. Flare’s native token will be an algorithmically managed, pegged stablecoin, aiming to keep network usage costs predictable and providing a primary input for DeFi use cases.
Flare is airdropping a total pool of 45 Billion SPARK tokens to eligible XRP holders. All holders except Ripple Labs, certain previous employees of Ripple Labs and others mentioned in the announcement page will be eligible to receive the SPARK tokens. The snapshot will be taken at the first validated XRP ledger index number with a timestamp greater than or equal to 00:00 GMT on 12th December 2020. If you’re holding your XRP in a private wallet then you will have to set the Message Key field on your XRP Ledger address to your Flare address and if you’re holding XRP on a supporting exchange, then you’re already set to receive the tokens.
- Hold your XRP in a private wallet where you have access to your private key or in an exchange that has announced support for the airdrop.
- The snapshot will be taken at the first validated XRP ledger index number with a timestamp greater than or equal to 00:00 GMT on 12th December 2020.
- Exchanges that have currently announced support for the airdrop are Binance, KuCoin, OKEx, Huobi, Bittrex, FTX, Bithumb, Gate.io, Wazirx, Bitfinex, Kraken, etc. Check the supported exchanges page to see the complete list. Atomic Wallet has also announced support for the airdrop.
- Binance will only count the XRP positions in spot wallets, savings accounts, and coin-margined futures wallets and not the ones in margin accounts and crypto loans.
- FTX exchange holders will either receive the airdrop tokens directly or the USD equivalent of the airdrop tokens.
- If you have XRP in self custody (private wallet), then you will have to set the Message Key field on your XRP Ledger address to your Flare address to be eligible to receive the rewards. Learn the complete process from this FAQ page.
- Users having XRP in self custody will have six months from the snapshot date to claim their tokens, that is until 11th June 2021.
- Ledger Nano and XUMM wallet holders can set their wallet to receive SPARK tokens seamlessly by using this tool.
- Trezor has not yet announced support for the airdrop, so make sure to follow their official channels for updates regarding the airdrop.
- Ripple Labs, certain previous employees of Ripple Labs, non-participating exchanges, and accounts known to have received XRP as a result of fraud, theft and scams are excluding from the airdrop. There’s also a “Whale cap” in which an individual can claim only up to 1 Billion XRP worth of SPARK tokens.
- All eligible claimers will receive 15% of their total SPARK at network launch and the remaining tokens will be distributed over a minimum of 25 months and a maximum of 34 months.
- The number of SPARK tokens a user receives will be based on the following formula: SPARK claimable = total number of eligible XRP / total XRP in existence – excluded XRP * 45 Billion.
- All unclaimed SPARK tokens will be burned after 11th June 2021.
- Check this FAQ page to learn more about the airdrop and claiming. For further information regarding token distribution, see this post.