{"id":109437,"date":"2021-01-22T21:57:43","date_gmt":"2021-01-22T21:57:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109437"},"modified":"2021-01-22T21:57:43","modified_gmt":"2021-01-22T21:57:43","slug":"xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance\/","title":{"rendered":"XRP Token Holders to Receive Second Token Airdrop from Flare Finance"},"content":{"rendered":"

XRP token holders are set to receive Spark (FLR) tokens from the Ripple-backed cryptocurrency startup Flare Networks, which has revealed it will airdrop a total of 45.8 billion FLR to XRP investors, after taking a network snapshot back in December.<\/p>\n

As CryptoGlobe reported, Flare Networks will not distribute tokens to Ripple-owned accounts but will distribute tokens to Rippleworks, a charitable organization founded by Chris Larsen, a co-founder of Ripple. The tokens will be airdropped at a ratio of 1.0073 FLR per each XRP token investors held at the time of the snapshot.<\/p>\n

It\u2019s worth noting \u00a0Spark tokens\u00a0will be used for governance on the Flare network\u00a0through voting mechanisms, and token holders will be able to earn a return on their holdings by committing Spark tokens as collateral to secure the trustless issuance and redemption of FXRP, a protocol built to \u201csafely enable the trustless issuance, usage and redemption, of XRP on Flare.\u201d<\/p>\n

Token holders will also be able to earn a return on their holdings by contributing data to the Flare time series oracle.\u00a0 The Flare Network itself integrates the Ethereum Virtual Machine (EVM) and does not derive safety from a token.<\/p>\n

XRP holders will receive a second airdrop from Flare Finance \u2013 built on the Flare blockchain and designed to power swaps, stablecoins, yield farming, insurance, and asset-backed loans \u2013 via a snapshot of the Flare Network\u2019s blockchain.<\/p>\n

In a series of tweets, spotted by Daily Hodl, Flare finance revealed that one month after the Flare Network is launched, it will take a snapshot of the balances of those who hold FLR and distribute DAOFlare (DFLR) tokens to holders.<\/p>\n

To interact with the Flare Finance ecosystem, users will then have to swap their DFLR tokens for YieldFlare (YFLR) tokens, the official ones to be used on the ecosystem. The Flare network, which will essentially bring Ethereum\u2019s decentralized applications, smart contracts, and decentralized finance into the XRP ecosystem, will launch this year.<\/p>\n

It\u2019s supported by Ripple\u2019s investment arm RippleX, formerly Xpring.<\/p>\n

Featured image via Pixabay.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

XRP token holders are set to receive<\/p>\n","protected":false},"author":3,"featured_media":109436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"\nXRP Token Holders to Receive Second Token Airdrop from Flare Finance - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Token Holders to Receive Second Token Airdrop from Flare Finance - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"XRP token holders are set to receive\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/altcoins\/xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-22T21:57:43+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoTyler-swope-airdrop-2021-450x338-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/altcoins\/xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance\/\",\"url\":\"https:\/\/precoinnews.com\/altcoins\/xrp-token-holders-to-receive-second-token-airdrop-from-flare-finance\/\",\"name\":\"XRP Token Holders to Receive Second Token Airdrop from Flare Finance - 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