The Flare Network Airdrop Fork is valued at a considerable amount. There are specific groups that will not receive the distribution, including Jed McCaleb and accounts that have obtained XRP through fraudulent means. A limit of 1 billion XRP is imposed on accounts belonging to the same individual.
The Flare Network operates as a decentralized network utilizing the Avalanche consensus protocol modified to Federated Byzantine Agreement and integrating the Ethereum Virtual Machine. This allows for a scalable method for smart contract networks that does not rely on economic safety mechanisms. The separation of network security and the native token, Spark, provides greater flexibility in its usage.
The Spark Dependant Application model serves as a guide for creating applications on the Flare Network, utilizing Spark as collateral, contributing to the Flare Time Series Oracle for on-chain data estimates, and as a governance token. XRP, a digital asset designed for payments, powers the XRP Ledger, a decentralized blockchain technology using a unique "consensus" mechanism with minimal energy consumption.
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About Flare Network x Ripple
Spark tokens (FLR) will be distributed to Ripple (XRP) holders who opt to receive them in their XRP Ledger accounts. Some claimants may receive more than 1 Spark token for each XRP token they hold. The Spark token operates on the Ethereum Virtual Machine, offering a scaling solution for smart contract networks without relying on economic safety mechanisms. Unlike other tokens, Spark is not tied to network safety, allowing for more flexibility in its use. XRP is a digital asset used for payments on the XRP Ledger, a decentralized blockchain technology that confirms transactions through a unique consensus mechanism with minimal energy consumption.
Step-by-step guide
Visit the Flare Network Airdrop announcement page, and read carefully. You need to hold XRP token on the 12th December 2020, 00:00 GMT. A Snapshot will be taken of all XRP Ledger addresses at a specific ledger index number. The first validated XRP ledger with a timestamp greater than or equal to 00:00 GMT on 12th December 2020. The right to claim the 45 Billion Spark tokens will then be apportioned to each remaining address according to their proportional XRP balance in the snapshot. This may result in valid claimants receiving more than 1 Spark token for each XRP token that they hold. Further Information: Spark Token Distribution. Spark tokens that are not claimed 6 months after the date of the snapshot will be burned. The method of claiming the Spark token is simply to set the Message Key field on your XRP Ledger address to your Flare address. This process is detailed in this article. To claim Spark you must do this by 6 months of the snapshot date. If your XRP is held at an exchange, you may need to take some actions within the exchange website/app itself. If you are a customer of a supporting exchange, then your exchange has indicated publicly that they will distribute Spark tokens pro-rata to their customers based on their XRP holdings. If your exchange is not listed at that link, then you should assume for now that your exchange will not be participating.
Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Conduct thorough research before making any deposit/investment decisions (DYOR).
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