Ripple XRP News: Spark Airdrop Update

XRP token’s expected partnered airdrop happened on December 12 as planned. The snapshot of the XRP Ledger in partnership with the “Flare Network’s “utility fork” for the Spark token airdrop happened successfully. However, this did not happen, as many people have expected.

This airdrop didn’t happen instantaneously, and not all tokens are currently visible and available. Regardless, it doesn’t matter if the investors kept their XRP tokens in self-hosted wallets or on the more common cryptocurrency exchanges, the FLR tokens will come later.

The founder of XRPL Labs, Wietse Wind, gave a good explanation regarding this matter on Twitter.

“A snapshot of all balances for accounts with their MessageKey set. Now we wait until they finish their own Flare blockchain tech., and distribute the tokens there, to be managed with a wallet that supports their new Flare network.”

Flare Network also issued their own reminder via Twitter that their FLR tokens will only be accredited to the XRP token holders once the main net goes live. This is expected to happen between January to March of 2020, a developer said. However, there are a few exceptions as several crypto exchanges have issues IOUs, claiming for the FLR token.

One of their teams explained that they were aware of how some exchanges are planning to issue an IOU in the future for the Spark FLR. They say that doing so is their prerogative. Flare Network as an entity has no involvement in it, the team further added.

With the snapshot having happened two days ago. There are now available evaluations of the airdrop data. A notable one is from a community member, “XRP_Cro”. According to him, a total of 110,259 accounts and 23.5 million XRP participated in the airdrop. These numbers include only 30% from self-hosted wallets, and the rest are stored in exchange wallets. Also, a total of 51,000 new accounts were made in anticipation for the Spark token airdrop. Flare Finance will perform the airdrop after a month of the launch of mainet on the Flare Network.

Flare Finance is making great progress not only on Flare Network itself but also on the first DeFi project on the network. In celebration of the successful snapshot, the Flare Finance launched a beta version as well as introduced a beta program. On the Coston testnet, 200 people were invited to try out the performance and UX of their new ecosystem.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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