More than 81,500 XRP accounts have been set up to collect a total of 17.5 billion tokens from the upcoming airdrop from Ripple-Backed Flare Networks.
Crypto investors who register their XRP on an authorized account will receive free Spark tokens at a ratio of 1: 1 when Flare hosts the “Snapshot” day on December 12th.
The recipients retain ownership of their XRP holdings while they receive the new tokens.
⚡️ # SPARK ⚡️
?[5 DAYS #SPARK SNAPSHOT]
~ 81,564 accounts set up entitlement for the # SPARK token
~ 17.5 billion # XP credit ??
421 million # XPP inventories were increased and 36,646 new # XPP accounts were created. #XRPCommunity @ FlareNetworks # UnlockingValue pic.twitter.com/RRvj9YeSHI
– Ronald (@ ronaldonline777) December 6, 2020
Additionally, more and more exchanges have announced that they will support the Airdrop and distribute Spark Governance tokens proportionally to their customers based on their XRP holdings. Coinbase, one of the last high profile exchange deals that was just announced on Saturday, will take on the airdrop.
Flare seeks to extend XRP’s utility by allowing users to run smart contracts on Ripple’s native asset. Investors and traders holding Spark can also use the new token as collateral for the repayment of assets in the Flare ecosystem.
In the meantime, those who hold their XRP themselves or save it in a non-participating exchange can still snap up Spark. In a Coil post, XRPL Labs founder Wietse Wind says that owners of an XRP ledger account must have a private and a key account for flare. Wind notes that all account holders should demonstrate that they are eligible.
Flare has extended the eligibility windows to June for those practicing custody.
Selected image: Shutterstock / Volodimir Zozulinskyi