The users will be eligible to earn Spark Token in proportion to XRP on their accounts on December 12, 2020, at 3:00 a.m. on Paribu that supports Spark Airdrop Program. In the following days, Spark Tokens will be airdropped by Flare Networks to the users in proportion to the total XRP that are in their wallets during the snapshot.
What is Spark Token?
It is the token that is used by the Flare Network blockchain to perform the functions of the network.
What is the connection of Spark Token to XRP?
It is created by forking from the Flare Network Ripple blockchain with a structure called “utility fork”. According to the team of developers, thanks to the advantages offered by this technology, the balance snapshots of the wallets registered on the XRP chain will be taken, excluding the ones owned by Ripple Labs and the wallets of the platforms that do not support token distribution program.
How many Spark Tokens will be airdropped?
45 Billion Spark Tokens will be airdropped in an extended period of time.
How can I receive Spark Tokens?
You can receive Spark Tokens by having XRP on your account on December 12, 2020, at 3:00 a.m. The earned number of tokens will be deposited into your account based on the timing and amount of the tokens to be airdropped by Flare Networks.
How much XRP should I have on my account?
Having at least 1 XRP on your Paribu account will be sufficient to benefit from the airdrop. You will receive tokens proportionate to the fractions of this number as well.
Will XRP deposit and withdrawal transactions cease?
Paribu will not apply any time limitations for deposit and withdrawal transactions. The main reason for this is not to hinder the deposit and withdrawal transactions of our users. However, the pending XRP transactions -transactions that have not yet been completed may be excluded from the snapshot on December 12, 2020, at 3:00 a.m. Therefore, we kindly request our users who would like to participate in the Spark Token distribution to complete their XRP transfers earlier.
When will I receive the Spark Tokens?
Flare Networks shared that, following the first distribution, the airdrop will take place in monthly installments within a time span of 25 to 34 months.
How many Spark Tokens will be deposited into my account?
The amount of Spark Tokens to be airdropped will be calculated by Flare Network. The earned amount will be calculated by Flare Network, from a pool of 45 billion Spark Tokens, based on the percentage of the XRP amount on their wallets to the total XRP amount after excluding the ones owned by Ripple Labs and the ones that are in the wallets of the markets which do not support the airdrop program.
The developer team declared that following the first airdrop of 15% of the earned amount to the wallet holders, the rest will be distributed within a 25 to 34 month period at a monthly rate of 2-4% to be determined by the Flare algorithm. Our users who had XRP on their accounts during the snapshot will have received the entire earned amount by the end of this period.
Do I need to complete any additional steps to participate in the Spark Token airdrop?
For Paribu users, having XRP on their accounts will be sufficient to benefit from the airdrop. Paribu will carry out all of the required technical procedures.
Will Spark Token be listed on Paribu?
Paribu has declared that it will support the airdrop program. However, this does not mean that Spark Token will be listed on Paribu. Paribu always evaluates cryptocurrencies based on their compliance with the listing standards, and only lists them if they meet the standards.
Will there be any changes in XRP price?
The airdrop of Spark Token does not have any technical features (such as capital increase and dividend payment in conventional stock markets) to affect the XRP price. Furthermore, XRP price is automatically determined based on the supply and demand on the market as other cryptocurrencies listed on Paribu.
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