Hugo Philion, CEO of Flare Network, designed on a separate blockchain to offer smart contract functionality to the Ripple (XRP) Blockchain, shared details on the Spark (FLR) airdrop. cryptocoin.com We provide details as…
Ripple investors, details of Spark airdrop have arrived
According to Flare CEO Hugo Philion, the path to the much-anticipated airdrop of XRP investors is getting clearer. Philion said on Twitter that the company was working on upgrading the Songbird network prior to the Spark (FLR) airdrop:
Here’s the answer for anyone asking where their FLRs are. We are upgrading Songbird before the end of March 2022 with the last two protocols required before launching Flare. This will then allow us to continue launching Flare. A full roadmap for the launch of the flare will be announced in the coming weeks.
Flare Network aims to bring smart contract capabilities to various Blockchain networks, starting with the native FLR token, XRP, and then Litecoin (LTC). When Flare launches, the company says that every eligible hodler will receive 15% of its claimable Spark tokens, followed by an average of 3% per month, for a minimum of 25 months and a maximum of 34 months. Philion also shared that Flare is in touch with leading exchanges regarding the upcoming airdrop:
Regarding the FLR airdrop, we are in touch with the largest exchanges to determine and meet the token distribution conditions.
What is Spark airdrop?
Spark is the native token of the Flare Network, designed to offer smart contract functionality to XRP, but on a separate Blockchain. The airdrop will be distributed to its investors according to the records received on December 12, 2020. The airdrop will be completed over time and a total of 45 billion Spark Tokens will be distributed. Additionally, Spark is the cryptocurrency that powers the Flare Network. Its main use is to block spam attacks, similar to other native tokens. In addition to these, Spark Token can be used for the following functions:
- As collateral in decentralized applications (DApps)
- Providing data to on-chain oracle
- Participate in protocol governance
About Flare Network
Flare Network is a distributed network integrating the Ethereum Virtual Machine (EVM). Flare uses the Avalanche consensus protocol, adapted to work with the Federated Byzantine Agreement (FBA). FBA is also a consensus mechanism used by networks such as XRPL and Stellar.
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