Ripple-backed Flare Networks continues to witness a big response as crypto investors line up and register 1.5 billion XRP.
XRP holders have set up 24,261 accounts with a total balance of 1.5 billion XRP in an effort to get their hands on Flare’s governance token, Spark, at no cost.
#XRPCommunity UPDATE ??#SPARK ??
~ 24.261 accounts set up the claim
~1.5 billion #XRP balance
88.7 Million #XRP holdings increased and 6522 new #XRP accounts have been created.
??@FlareNetworks?? pic.twitter.com/lYc7LYpcvG
— Ronald (@ronaldonline777) September 28, 2020
According to the Ripple partner, crypto investors who register their XRP in an eligible account will receive free Spark tokens in a 1:1 ratio when the blockchain company holds the “snapshot” day on December 12th. Recipients will retain ownership of their XRP holdings while receiving the new tokens.
Flare is expanding the use case of the fourth-largest cryptocurrency by allowing users to run smart contracts on XRP. More than just a governance token, users can also leverage Spark as collateral to redeem assets in Flare’s ecosystem.
Four major crypto exchanges have already announced their support for the Spark airdrop. Users holding XRP in Uphold, Gatehub, AnchorUSD, and Bitrue can expect the delivery of the new crypto asset.
