Free money with Ripple? 21 billion XRPs land on the exchanges, and there’s a reason!
General tour of SPARK! – This Saturday 12th December there will be a major airdrop for all Ripple XRP token owners. If you haven’t heard about the SPARK (FLR) distribution yet, it’s not too late.
Only a few hours left to take advantage of free FLRs
Ripple Labs‘ interbank token community is preparing to receive the airdrop of more than 45 billion SPARK (or FLR) tokens from the Flare network project.
All XRP holders are eligible for this distribution, which will take place on 12 December at 1am (Paris time). A „snapshot“ – a snapshot of the XRP network balances – will then be taken, to calculate each person’s share of FLR.
The XRPs must be held either in a private wallet or on one of the Airdrop-compatible cryptocurrency exchange platforms.
Binance, Huobi, Coinbase, Kraken, KuCoin and many of the major crypto exchanges have announced that they will support the distribution of SPARK tokens.
In total, more than XRP 21 billion through 94,048 accounts are ready to receive the FLR as a reward.
The Flare network should bring DeFi to XRP
FLR is therefore the native cryptography of the Flare Network, a new protocol that aims to bring decentralised finance (the famous DeFi) to Ripple’s XRP ecosystem.
The latter will thus become compatible with the smart contracts of the Ethereum Virtual Machine (EVM). The FLR also enables the issuance of FXRP, a representation of the XRP token on the Flare network.
According to Cryptopotato media, quoting industry analysts, the recent increased demand for XRP to benefit from SPARK’s Airdrop is „one of the main reasons for the surge in [XRP] prices in recent weeks“.
Beware of the potential Dump that may follow, perhaps as early as tomorrow morning after the Airdrop. Those who bought XRP upstream just to take advantage of this free distribution of cryptos risk reselling them fairly quickly, which could create a temporary drop in prices.
Translated with www.DeepL.com/Translator (free version)