Second Airdrop For XRP Holders Is Coming: What You Should Know

A second airdrop for XRP holders is coming and the holders are already set to receive the highly anticipated Spark token airdrop from Flare Networks so let’s read more about it in today’s XRP news.

In December, the Ripple-based crypto startup Flare executed a snapshot of XRP holders and distributed the Spark token to them at a 1.0073 Spark per XRP rate. In total, Flare is said to distribute 45,827,728,412 Spark tokens to the XRP holders in the first half of 2021. The token is a part of the new smart contract ecosystem which is designed to bring ETH-type functionality to the ledger.

Flare Finance was built on the Flare blockchain and it is designed to power swaps, yield farming, stable currency, insurance, yield mining, and asset-backed loans. It now plans to offer these same participants a second airdrop for XRP holders. The company says it will airdrop DAOFlare Token to the users that receive spark. DFLR holders can saw these tokens for YieldFlare which is the platform’s official token.  As explained on twitter:

 “One month after the main network launch of the Flare Network, Flare Finance will snapshot all balances of those who hold FLR. 7-10 days after our snapshot, you will be proud owners of both FLR (Spark) and DFLR (DAOFlare).

But wait, you must go one step further to begin interacting with the Flare Finance ecosystem. The last step is to swap your DFLR for YFLR (YieldFlare), the official token of the Flare Finance Ecosystem. Once swapped, endless potential awaits.”

Flare said that the network will launch in the second quarter of this year. As recently reported, Flare Network announced that it will make another airdrop of the Spark tokens but this time to Litecoin holders. The previous airdrop was meant for all XRP holders. In a follow-up tweet, the company announced that it has reduced the five billion tokens that were initially allocated for distribution among the founders in order to cover the airdrop. Back in December 2020, Flare took a snapshot of XRP for the airdrop of 45,827,728,412 Spark tokens which will be issued to XRP holders in 2021. In a blog post, the CEO and co-founder of Flare Networks Hugo Philion said that the ratio between XRP and FLR holders is close to 1:1 so for every XRP that an eligible participant held, Flare will give them 1.0073 Spark tokens.