Flare Networks will airdrop 45 billion units for its token, Spark. Numerous wallets with more than 500 million XRP held so far have been set up to receive free Spark tokens.
Ripple-backed blockchain company Flare Networks has announced that it has received heavy demand from the XRP community.
The company reported in its Twitter post on Friday that thousands of XRP holders are preparing their accounts to claim free Spark tokens. In the post, “The XRP ecosystem’s response to Flare is huge. More than 5 thousand 400 accounts with a total of 295 million XRP have been set up to claim Spark tokens within 6 days. ” It was said.
In the following days, this demand increased. Recent data show that wallets currently hosting a total of 515 million XRPs are ready to receive Spark tokens. The number of accounts has also increased to over 9 thousand 400.
The Ripple partner rewards XRP holders with Spark, a new token that allows users to take advantage of smart contract features.
Flare Network is defined as a new turing complate smart contract platform. Its token, Spark, was created through an XRP fork. It is stated that Flare uses the XRP encryption scheme that can make it easier to use XRP Ledger and Flare for XRP users.
Flare Networks CEO Hugo Philion says XRP investors outside of Ripple can use their assets to buy Spark tokens at a 1: 1 ratio.
There are currently around 45 billion XRPs that are not owned by Ripple Labs or the company’s former employees, and so 45 billion Spark tokens will be distributed.
Bitrue was the first exchange to support
It is not yet clear when the balance records will be received at all XRP addresses for distribution, but it is said to be announced at least two weeks in advance. Currently, Bitrue is the only exchange to announce its support for this airdrop, but other exchanges are also expected to follow. Popular cryptocurrency platform Uphold may also announce support soon. It has been reported that an announcement will be made this week from the company’s official account.
Finally, non-exchange wallets can be set up for Spark tokens without waiting for the support of exchanges. For this, the Flare Network has published a detailed guide.