Just had a great discussion with @FlareNetworks and wanted to clarify a few specifics of the Spark distribution to the #xrp community.

The snapshot is on the 12th of Dec. Out of that Flare is creating buckets:

Say exchanges hold ~10B XRP
People hold 30B ~XRP
Say only half the exchanges participate and claim 5B of the 10B Spark.

Unclaimed Spark goes to the people's bucket which is now 35B XRP.

Jed's 5-6B XRP will also be added to the people's bucket.

An exchange ratio will be created for the people's bucket.
They will get 1:1 XRP to Spark

PLUS their share of the 5B unclaimed Spark from exchanges AND Jed's tokens.

Say that gives us 1:1.28 XRP to Spark.

Any XRP holders that claim their Spark in the 6 month window will be given spark according to this ratio.
The spark remaining from the accounts (XRP holders) that don't claim the spark will be burned.

There's some confusion of this because the answer is both, you will get more than 1:1 AND unclaimed tokens will be burned.

I hope this has explained how it works.
One clarification - the people's bucket and participating exchanges are the same group.

The exchanges not participating and Jed's SPARK are pulled out an put in a bonus bucket used to calculate the ratio (1:1.28 used above)

Every Spark recipient gets the same ratio.

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