We will follow up with details once the network starts the token distribution.įor more information on how the network will process the token distribution please refer to ‘ Further information on the spark token distribution ’. Spark tokens will be distributed when the Flare Networks goes live between Q1 and Q2 of 2021. Participation in the Airdrop does not guarantee listing of the SPARK token on Zebpay. XRP held in pending orders at the time of the snapshot will not count towards your XRP balance. The only reason I could see this being the case is if spark mirrors xrp, meaning the price point should be comparable. will put out a guide closer to launch that covers the ways to safely. XRP tokens that are pending deposit or withdrawal at the time of the snapshot will not count towards your XRP balance. Ripple has stated that it will be higher then 1:1 because the unclaimed spark tokens will still need to be distributed. The Spark FLR token will be distributed when the network goes live.
The tokens will be distributed when the Flare network launches, and the Airdrop is processed by the network.ĭeposits and withdrawals will be suspended during the snapshot.Ī minimum balance of 10 XRP is required to be eligible for the airdrop. Philion says Flare is communicating with top exchanges about the upcoming airdrop. User A = (Amount of XRP held by User A at the time of snapshot / Total XRP held by ZebPay at the time of snapshot) * Total SPARK received by ZebPay for the airdrop. When Flare launches, the company says that each eligible holder will immediately receive 15 of their claimable Spark tokens, and then claim an average of 3 per month, carrying on for a minimum of 25 months and a maximum of 34 months. SPARK will be airdropped to each user according to the formula below: These will be resumed once the snapshot activity is complete. Zebpay will suspend XRP deposits and withdrawals starting Decem06:00PM IST. The Airdrop snapshot will take place at first validated XRP ledger on or after Decem00:00 UTC (05:30 AM IST). ZebPay is pleased to announce our support for the Spark (SPARK) Airdrop Program for Ripple (XRP) holders. Modified on: Fri, 11 Dec, 2020 at 1:16 PM
#WHEN WILL SPARK TOKENS BE DISTRIBUTED FREE#
They can simply deposit XRP to their wallet then wait for snapshot and distribution.Solution home Zebpay Support Articles About Zebpay : Setting Crypto free since 2014 SPARK Airdrop 1 Spark token for 1 XRP in your wallet on the date of the snapshot, 12th December.īitBns users don’t need to worry about anything. The number of Spark tokens will be distributed at 1:1 ratio. Testnet is alread running and date and time for usage of Spark token will be revealed very soon. XRP & Flare are different networks and the Flare network is not launched yet, so you cannot use these tokens currently. Authorized date of the circulation will be announced after Flare blockchain is fully developed, Please join Bitbns Announcements Channel and follow Flare Networks on twitter. When will Spark tokens be distributed?īitbns will support scheduled snapshot on December 12, 2020. So, Don’t wait start depositing XRP in your BitBns wallet now. A total of 100 billion Spark tokens are being created, in keeping with the 100 billion XRP that exist.
The Spark token will be used on the network as a native token for governance voting as the foundation will be taking technical direction from the Spark owners to develop Flare and execute upgrades and changes to the network.Īnyone who holds XRP in BitBns exchange wallet is eligible for this airdrop. New Spark tokens are also going to be created on a regular basis, and they will be distributed to those who commit this asset as collateral or submit accurate data to a price oracle. Instead of establishing an ITO, Flare Networks will perform a utility fork to bring worth to the original chain. The network operates on the protocol adapted for the Ethereum Virtual Machine and Federated Byzantine Agreement. The Flare Network is a disseminated system running the Avalanche consensus protocol and uniting the supremacy of smart contracts on Ethereum and the speed of the XRP Ledger. Spark token is a native token of the Flare network. We are supporting Spark airdrop for XRP holders on Bitbns.
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