Key Highlights
- Flare Networks will snapshot the XRP blockchain on December 12, 2020.
- Spark tokens will later distribute to XRP holders based on the snapshot.
- Coinbase confirms participation in the airdrop, joining Binance, Kraken, and Bitstamp.
Flare Networks’ Spark Token Airdrop
Flare Networks aims to integrate DeFi capabilities into non-smart contract blockchains, starting with XRP. The project will airdrop Spark tokens to XRP holders, rewarding those included in the December 12 snapshot.
How to Qualify
- Non-custodial wallets: Automatic eligibility for balances held during the snapshot.
- Exchanges: Must explicitly support the airdrop (e.g., Coinbase, Binance, Kraken).
Coinbase Joins Major Exchanges Backing the Airdrop
Initially hesitant, Coinbase announced its support due to community demand:
"Eligible customers holding XRP on Coinbase/Pro during the snapshot will receive Spark tokens post-Flare Network launch. Distribution amounts mirror snapshot balances."
Key Notes from Coinbase
- Jurisdictional restrictions may apply.
- Exact distribution timelines remain pending.
Kraken also confirmed participation, ensuring broad coverage for XRP holders across major exchanges.
FAQs
1. When is the XRP snapshot?
December 12, 2020, at 00:00 UTC.
2. Which exchanges support the airdrop?
Coinbase, Binance, Kraken, Bitstamp, and others.
3. Will U.S.-based users receive Spark tokens?
Coinbase notes potential jurisdictional limitations; updates will follow.
4. How are Spark tokens allocated?
1:1 ratio based on XRP holdings during the snapshot.
5. Can I withdraw XRP immediately after the snapshot?
Yes, but confirm your exchange’s rules to avoid disqualification.
Disclaimer: Airdrop details are subject to change based on Flare Networks’ official updates.