Spark token airdrop comes from a new company called the Flare Network, which is a distributing network.
These tokens will be used to generate useful data on flare, through an oracle system and they will also be used for network governance and spam prevention.
What is a Spark Token Airdrop?
Spark Token Airdrop is the distribution of the Flare Network’s native token, that is designed to offer smart contract functionality to XRP, but on a separate blockchain.
This token can be used to collateralize the trustless issuance of FXRP, a fully trustless representation of XRP on Flare. When there is an issuance of FXRP and the oracle system is used, there are opportunities where a level of cash flow can be provided to Spark token holders.
How Much Will a Spark Token be Worth?
Many people will be receiving the Spark token by simply holding XRP, this tends to create alot of questions about it’s value when it is launched and even how it’s value will change after the airdrop.
In terms of price when it gets to the market, there’s alot of speculation as there is no set price at the moment. The official website claims that there is no fixed price for the spark token, but with the number of exchange platform supporting this project, it is expected that the market should bloom.
Spark Token Airdrop Date
According to Flare network, the airdrop of the spark tokens is scheduled to happen between the end of June and July 2021.
Read also: Latoken TOKAU Airdrop – How to Participate
Where to Buy Spark Token Airdrop?
There are some exchanging platforms that support spark token airdrop program for XRP holders. These platforms serve as the marketplace where one can buy this token. Some of the supporting exchange platforms are :
- Binance
- Coinbase
- Huobi
- Kraken
- Kucoin
- Poloniex
How to be Eligible for Spark Airdrop
The eligibility for receiving spark tokens is mainly based on one’s ability to get and hold XRP in self custody, it is by then that you can participate in the airdrop.
How to Buy and Claim Your Spark Token
Apart from you being eligible for the token by retaining some amount of XRP In your custody, claiming the spark token will entail you doing some work and this maybe different depending on the type of wallet or exchange platform that you use. This can be done in the following three steps :
Step 1
Get a Wallet
One will need to get an Ethereum wallet such as metamask, this wallet will enable you easily use the coming flare network interface, receive and send spark tokens.
Even if your wallet is not compatible with the flare network, there’s an option where you use your recovery word to migrate your claimed spark tokens into a new wallet.
Step 2
Copy Your Address
After setting up your Ethereum wallet, then you hold your secret key or recovery word, you will need to copy your address. This address is what you will use later, on the flare network and all your tokens will be distributed to it after the launching.
Step 3
Set the Message Key
The final step is setting the message key. Once you have copied your flare address, go to XRP toolkit and connect your XRP wallet, after pasting your address in the message key field, XRP toolkit will convert your flare address to the required format for storing on the XRP Ledger.
You will need to review all your details in your connected wallet after clicking update, then you confirm if the message key corresponds with your intending address.
The Spark token airdrop is a major event that has the opportunity of growing out of the Defi – space. It’s also a major event for XRP which moves on from the ripple blockchain, to play a role for the spark token.
In terms of investors, it has already caused a change for them as the news of spark token had a strong impact on the price of XRP, which has recently doubled. However, there is still much to come and its worth being a part of.
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