The PR indicated that already several DeFi, NFT, and gaming projects had revealed plans to launch on Flare, whose “Oracle system currently features at least 16 data providers. How can you get your hands on some Spark Tokens If you’re a Coinbase user, you may be in luck. At that time, Coinbase users will be able to claim their share of the airdrop by depositing Ethereum into their wallets. After the launch, Flare will focus on XPR, XLM, LTC, and DOGE. The distribution of Spark tokens on Coinbase will occur when the Spark network launches on December 12th, 2020. Users will be able to utilize the FLR coin as collateral for the trustless issuance of assets from payment chains that lack smart contracts.
The Flare protocol will enable “additional utility” for other tokens via its smart contract. At the time, over 100 cryptocurrency exchanges participated in the distribution, and the “majority also agreed to list the token.” It will be distributed to XRP holders who help Ripple’s coin on December 12th, 2020. The statement also touched upon the upcoming airdrop of Flare’s native token – Spark (FLR). The investment brings into the Flare ecosystem key participants in the investment community, together with major exchanges, market makers, blockchain founders, and entrepreneurs that have an interest in driving meaningful developments and participation of Flare.” – he added. “Flare’s goal is to bring additional utility to all chains and ecosystems that are integrated with it. The project announced the latest funding round in which it raised $11.3 million in a press release shared with CryptoPotato.Īpart from the aforementioned participants, additional financing came from private investors like Vinny Lingham, Do Kwan, DeFi Capital, ZB Group, Genesis Capital, and Litecoin’s founder – Charlie Lee.Īccording to Flare’s CEO, Hugo Philion, this investment round only goes to demonstrate “a belief in Flare’s potential to unleash the value and unlock the community in chains that do not have native smart contracts.” Flare Raises $11Mīuilt as a scalable, decentralized smart contract platform that runs the Ethereum Virtual Machine, Flare utilizes Federated Byzantine Agreement-based consensus. Kenetic Capital led the investment as some of the notable names that participated included Digital Currency Group, Coinfund, LD Capital, Wave Financial, and Borderless Capital. They can simply deposit XRP to their wallet then wait for snapshot and distribution.The Federated Byzantine Agreement-based (FBA) network, Flare, has announced the completion of another funding round in which it raised over $11 million. 1 Spark token for 1 XRP in your wallet on the date of the snapshot, 12th December.īitBns users don’t need to worry about anything. The number of Spark tokens will be distributed at 1:1 ratio. Testnet is alread running and date and time for usage of Spark token will be revealed very soon. XRP & Flare are different networks and the Flare network is not launched yet, so you cannot use these tokens currently. Authorized date of the circulation will be announced after Flare blockchain is fully developed, Please join Bitbns Announcements Channel and follow Flare Networks on twitter. When will Spark tokens be distributed?īitbns will support scheduled snapshot on December 12, 2020. So, Don’t wait start depositing XRP in your BitBns wallet now. The Spark token will be used on the network as a native token for governance voting as the foundation will be taking technical direction from the Spark owners to develop Flare and execute upgrades and changes to the network.Īnyone who holds XRP in BitBns exchange wallet is eligible for this airdrop. Instead of establishing an ITO, Flare Networks will perform a utility fork to bring worth to the original chain. The network operates on the protocol adapted for the Ethereum Virtual Machine and Federated Byzantine Agreement. A total of 100 billion Spark tokens are being created, in keeping with the 100 billion XRP that exist. The Flare Network is a disseminated system running the Avalanche consensus protocol and uniting the supremacy of smart contracts on Ethereum and the speed of the XRP Ledger. New Spark tokens are also going to be created on a regular basis, and they will be distributed to those who commit this asset as collateral or submit accurate data to a price oracle.
Spark token is a native token of the Flare network.
We are supporting Spark airdrop for XRP holders on Bitbns.
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