Do you own XRP? You will be entitled to SPARKs, thanks to an airdrop which will take place in the first quarter of 2021. Here’s how to take advantage of it.
What does this SPARK airdrop consist of?
The Flare project aims to help its clients use smart contracts with Ripple’s XRP . For this, it makes use of an Ethereum-based virtual machine, while using code similar to that of XRP. To make this new ecosystem work, Flare creates a token using a “ utility fork” . The result is SPARK: it will be distributed in early 2021 via an airdrop, and it is intended for anyone who already has XRP.
Several exchanges have already confirmed that they will be compatible with this new cryptocurrency. Yesterday, Binance announced that it would support the SPARK airdrop , so other large exchanges could follow in the coming weeks. So far, BitBay, Bitstamp, Crypto.com, eToro, Kucoin, and Upbit, among others, have confirmed that they are also compatible.
How to participate in the SPARK airdrop?
To receive this airdrop from SPARK, you just need to be an XRP holder , and they must be stored on compatible exchanges. Please note, some exchange platforms apply a limit: Binance will therefore only take into account the portfolios holding more than 10 XRP , i.e. around 5.5 dollars at the current price.
The tokens will be distributed at a 1: 1 ratio . If you have 50 XRP, you will receive 50 SPARK. However, it should be noted that the distribution will be spread over 25 to 34 months. The „snapshot“ will be taken on December 12th. This means that it is the number of XRP you have on that date that will be taken into account for the airdrop which will take place a few weeks later. You will then have 6 months to claim your SPARKs.