Thread by @CommunityFlare

Flare Network token distribution.

@FlareNetworks have blessed #XRP holders by taking a snapshot of the XRP Ledger (12/12/2020) for the token distribution.

Let us discuss further how Spark will be distributed and the important dates associated with the airdrop.

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First of it is important to note, Spark will be distributed to eligible wallets, but what constitutes as an eligible wallet?

Eligible address are those who have correctly claiming Spark, details of which can be found here:

flare.ghost.io/claiming-spark…

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If you was storing your #XRP on an exchange at the time, then fear not. You may still be eligible for the airdrop as exchanges may have claimed Spark on your behalf.

You can find a list of supporting exchanges here:
flare.xyz/supporting-exc…

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One other important factor to note is the fact that all XRP owners are eligible to claim barring Ripple Labs and certain previous employees of Ripple Labs.

This leaves a total claimable amount of ~45 Billion.

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Flare Networks have announced the ratio XRP holders will receive:

1 XRP = 1.0073 Spark

These will be distributed gradually with the first 15% being distributed upon the network launch in around 6 months.

Source: blog.flare.xyz/the-xrp-flr-ra…

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You may have noticed exchanges such as Poloniex and soon Bitrue listing Spark token and may wonder how this is possible?

As the distribution and ration as been announced, exchanges are able to calculate the amount you will (eventually) receive and have issued Spark IOUs.

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Finally, upon the launch of the Flare Network and after receiving your initial 15% allocation.

Each month you will receive addition Spark tokens for the next 24 - 34 months.

You can read more about the distribution model here:
blog.flare.xyz/further-inform…