I read somewhere that the actual ratio will be higher than 1:1, as all unclaimed Spark tokens will be distributed among all users who claimed. Customers can now begin trading XFLR/USDT. Anyone who holds XRP balance using one of the supported services will receive the same amount in SPARK (FLR) Tokens ratio 1:1 around March 2021. Flare had already launched a token airdrop campaign FLR for the community XRP in December 2020. The wallet or exchange needs to fully support this airdrop. XRP token holders are set to receive Spark (FLR) tokens from the Ripple-backed cryptocurrency startup Flare Networks, which has revealed it will airdrop a total of 45.8 billion FLR to XRP investors, after taking a network snapshot back in December. Any owner of XRP tokens will receive the token in a 1:1 ratio, which by extension means that there could be 100 billion Spark tokens created. 45 827 728 412 Spark tokens, are expected to be distributed in the first half of 2021. If an originator wants to issue 10 FXRP, then this corresponds to 5 Spark and therefore 12.5 Spark will initially be held as collateral by the FXRP System. Later, when the Airdrop occurs, the SPARK tokens will be sent to XRP holders at a ratio of approximately 1:1. Since XFLR is an IOU token, it cannot be deposited or withdrawn. XRP owners will most likely receive the Spark token at a higher ratio than 1 XRP = 1 Spark, unless all exchanges and XRP owners participate in the airdrop. The 2.5x collateral ratio must be maintained at all times. Spark tokens will be used for governance on the Flare network through voting mechanisms, and token holders will be able to earn a return on their holdings by … To participate in the tokens distribution, you just need to to-up your CEX.IO account with some XRP. Eve has 15000 Spark as collateral in the FXRP System, the XRP/Spark rate is 15 and her collateral ratio is: $$ \small{\texttt{15000}\div (\texttt{500} \times \texttt{15}) = \texttt{2}} $$ Which is below the required ratio but still double the value of the issued FXRP apportioned against Eve's account. A snapshot of the XRP ledger balances will be taken on 00:00 GMT on the 12th December 2020. Is there any info about whether exchanges will give out all Spark due to users or if they will just be giving 1 Spark token for each XRP token held. After a snapshot of all balances on the XRP Ledger, Spark (FLR) tokens will be distributed free of charge in a 1:1 (or more) ratio. This minted FXRP is provided to holders who send their XRP to a series of dedicated ’Agent’ addresses on the XRP Ledger. It takes time and there’s always the risk of making a mistake. Do You Own XRP? 45 billion SPARK tokens will be awarded to XRP owners at a ratio of approximately 1: 1. XRP owners receive the Spark token in a 1:1 ratio, which in turn means that 100 billion Spark tokens are created. " Spark [IOU] (XFLR) has been airdropped to Poloniex customers who held XRP at the time of our snapshot at a 1:1 ratio. If your XRP is held at a supporting exchange they will handle the claim process and distribution for you. If the price of XRP increases against Spark, such that the value of Bob's collateral falls below 2.5 times the FXRP issued against it, then Bob has a limited time to either add more Spark tokens as collateral or buy and redeem FXRP tokens to bring his collateral ratio back in line. According to Flare Network, 75% of current smart contracts still require trusting a central entity. The ratio of Spark-to-XRP coin distribution is not fixed, but the more XRP you own, the higher your share will be. You may need to take some actions within the exchange website/app itself. To claim Spark you must do this by 6 months of the snapshot date. Holders of The CEO and co-founder of Flare Networks, Hugo Philion, estimated that the ratio between the holders of XRP and FLR was quite close to 1: 1. Using XRP as an example, Agents provide a 2.5:1 ratio to the network of Spark’s value to XRP’s value to mint the FXRP. XRP holders will see an airdrop of 45 billion Spark tokens on 12 December. Coinbase Revealed XRP Holders to Be Airdropped on 1:1 Ratio. At an XRP/Spark rate of = 0:5 and CR=2.5, 2.5 Spark must held by the system for every 2 FXRP issued. The San Francisco-based exchange said in a blog post that Coinbase customers with After slumbering for a while, Ripple’s XRP token finally rose in price since the start of December in anticipation of the long-awaited Spark (FLR) airdrop. Being able to claim tokens at a 1:1 ratio to one’s XRP holders is a pretty big deal. Whereas Ethereum users receive regular airdrops, the situation is very different for all other ecosystems. So if you own 500 XRP you will be rewarded with around 500 SPARK tokens. December a snapshot will be taken of all XRP account holders. Example 2.1. On 12th. Brace yourself for the SPARK airdrop and get FREE SPARK (FLR) Tokens! On December 12, 2020, a snapshot of all XRP accounts will be taken to decide how many tokens each XPR holder will receive. December 12 will see an airdop of 45 billion According to a Twitter user, there are almost 95-000 individual accounts set up to receive the SPARK airdrop. This will be carried out by the Flare Network, an airdrop backed by Ripple’s investment arm RippleX [formerly known as Xpring]. The process of obtaining these coins is pretty complicated: holders need to set up an XRP Ledger account after obtaining an Ethereum-compatible address. On the 13th of November, it announced an upcoming airdrop, called the Spark Airdrop Program which enabled anyone holding XRP to receive free tokens at a 1:1 ratio. Source: Adobe/Stanislav. These accounts have a total of over 21 billion XRP. Spark is the native token of the Flare Network, which is a system that is focussed on bringing Ethereum-like functionality to the XRP Ledger. As Coinbase has announced that they will be supporting the upcoming Spark token airdrop, they have made other revelations as well. As an XRP holder, the Spark airdrop is of great interest. The tokens will be initially distributed in a 1:1 ratio of SPARK to XRP tokens , however since there are exchanges that have chosen not to participate there is a chance of you claiming more than the initial ratio. They are burned. As reported by CNF , XRP owners have been able to claim their right for the Spark token of the Flare Network for several days now. With last week’s snapshot done, the Flare Network has finally declared how many Spark (FLR) tokens each eligible XRP holder will get. 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