Everything you need to know about the Spark token distribution
No, the distribution itself has not started yet
Developers plan to host the airdrop itself in 2021
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The BeInCrypto editors tried to deal with the sensational Spark airdrop from the Flare Network project for XRP holders
What are Spark tokens??
Spark is a native token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More cryptocurrency ecosystem Flare Network, which is necessary for the functioning of smart contracts for XRP, but on a different network. The Ethereum blockchain ecosystem, for example, also has smart contracts, but they function within the blockchain itself..
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In the case of XRP, the consensus ledger (also known as Ledger) does not support this feature. To solve this problem, the Flare Network with Spark tokens was created..
I can still take part in the Spark token airdrop?
No longer. At least, if the developers do not suddenly decide to carry out another airdrop (English airdrop), which is unlikely. As part of the Spark token airdrop, XRP holders had to deposit their coins to sites that announced support for the Spark distribution.
These included: Coinbase, Binance, OKEx, Kraken, KuCoin, Bitfinex, Huobi, Bittrex, Bithumb, Poloniex, Altcoin Trader, Bitrue, Coinspot, Gatehub, Uphold, AnchorUSD, CEX.io, and Revolut.
Is it possible to buy or sell Spark tokens on the same sites??
It is not yet known. So, for example, Coinbase has not yet decided whether to add the token itself to the listing. A similar decision was made in other exchanges, including Binance..
So the distribution has already begun or ended?
So far, only the process of registering everyone who wants to receive tokens using a snapshot of exchange wallets has ended. The distribution of Spark tokens has not started yet. You can follow the announcements on Twitter or on the official website of the project.
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It should be noted that when you search for “flare network” in Google, the search results show just three sites on similar topics, but with different domains: flare.ghost.io, flare.xyz and flare.network. The last domain automatically redirects to the official website (flare.xyz).
The first domain (flare.ghost.io) is the original blog of the project. At least it was this domain that the developers themselves referred to back in August.
Do I need to do something else to get tokens?
Depends on where you were holding XRP at the time of the wallet snapshot. If on the exchanges, then most likely nothing needs to be done. If on standalone wallets that support airdrop, then users will need to manually request Spark tokens.
The application deadline for offline wallets will continue until June 11, 2021. It should be noted that submitting an application does not mean that users will receive Spark tokens earlier than others..
When will users receive tokens?
Flare Network co-founder and CEO Hugo Filion said on the official blog that the actual distribution of tokens will begin in Q1 or Q2 2021. The exact distribution date remains unknown.
Recall that in anticipation of the snapshot of exchange wallets, traders poured about 21 billion XRP on the exchanges that supported the distribution.
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