Ripple-backed Project Set to distribute 45 billion tokens to XRP holders


XRP holders would be anticipating the arrival of the year 2021 following an announcement made by Ripple-backed project Flare that it would make next year meritorious for XPR with airdrops of its toke.

Flare would give out over 45 billion Spark tokens to XRP holders come the first half of 2021, a report has said.

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Flare Network was launched in August 2020, has it has since then been making significant progress. Following the launch of the payment project, XRP community members welcomed it warmly with optimum interest as over 295 million XRP and 5400+ accounts were created a few days after its launch.

Holders of XRP token were also promised Spark airdrop following the launch of the project which was designed to introduce an Ethereum-type on the XRP Ledger.

Last week, Flare made effort to account for the number of XRP holders it would distribute tokens to, and how many tokens it would be giving out. The company took a snapshot of XRP Ledger last week to achieve its airdrop mission.

Following the snapshot and a number of statistical activities, Flare noted that it would be distributing 45,827,728,412 tokens to holders of XRP cryptocurrency. However, some cryptocurrency exchanges do not support the airdrop, hence, holders of XRP on the platforms would not get the bonus.

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The distribution of the Spark airdrop would be in the ratio of 1 XRP to 1.0073 Spark.

To make XRP holder benefit more from the airdrop, Flare Network, dubbed the first-ever Turing Complete Federated Byzantine Agreement (FBA) protocol, would not distribute the token to Ripple which holds a huge share of XRP token –54,172,271,587 XRP.

Howbeit, Chris Larsen-founded charitable organization Rippleworks would also benefit from the airdrop.

Ripple, in November 2019, invested in Flare Network via Xpring. This was due to the promising display by the blockchain project.

XRP Performance in the Market

While the cryptocurrency market continues to take charge towards the ceiling with Bitcoin crossing its existing all-time high, XRP among other cryptocurrencies are also following the trend.

Users of the remittance-oriented cryptocurrency are very optimistic about the future price progress of the cryptocurrency with hopes that it would display another magnificent parabolic run as it did in 2017.

At press time, a unit of XRP is priced $0.574767, its highest price since creation. In the last 7 days, the cryptocurrency has upped its value by not less than 9%.


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