BTCNEXT and QDAO DeFi users to participate in a Spark token airdrop

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November 21, 2020

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Add: Anton Dzyatkovskii

BTCNEXT and QDAO DeFi users with XRP on their balance will get Ripple’s Spark token air-dropped in December 2020. This is the native token of Flare, the new Turing-complete FBA network by Ripple Labs. 

About the Spark airdrop

Striving to make blockchain accessible to businesses and enterprise users, Ripple Labs is launching Flare, the world’s first Turing-complete FBA network to integrate Ethereum Virtual Machine, which does not base its safety solely on the native token. Thanks to low transaction costs, it also does not limit the apps’ scalability. Besides, it can be easily and safely pipelined with third-party smart contracts on Ethereum. 

Spark is Flare’s native token and it performs several functions:

  • Collateral
  • Oracle and network governance
  • Increase of XRP and XRLP utility

Instead of organizing an ICO, Ripple will launch an airdrop with the snapshot date planned for December 12th. The total supply of 100 billion Spark coins will be distributed between XRP holders in proportion to the amount of XRP they hold. The ratio of Spark-to-XRP coin distribution is not fixed, but the more XRP you own, the higher your share will be. 

The process of obtaining these coins is pretty complicated: holders need to set up an XRPL account after obtaining an Ethereum-compatible address. It takes time and there’s always the risk of making a mistake.

Luckily, BTCNEXT and QDAO DeFi users don’t have to set up a XRP Ledger account – everything is much easier for them!

You’re one step away from getting your Spark tokens

In order to receive the Spark tokens, you need to transfer XRP coins to your QDAO DeFi account on the QDAO DeFi platform. You will see the ‘Claim my coins’ button in the interface and have 45 days from the moment of the snapshot to click on it and receive the bonus. Spark coins that are not claimed within the 45 day period will be used for BTCNEXT and QDAO DeFi development. 

There’s no minimal XRP ownership threshold for claiming the Spark tokens. However, the more coins you own, the higher your bonus will be. So don’t hesitate to purchase XRP and store it on your QDAO DeFi wallet. 

So far, Ripple Labs isn’t disclosing any information about Spark’s value. However, we believe that this token has huge potential and will be a great addition to your crypto portfolio. It is expected to be a tradable cryptocurrency and some major crypto exchanges have already confirmed its listing (eToro, Bitpay, Bitrue, Celsius, Coinspot, Nexo and a few others). We are considering listing Spark on our exchange too.

Be the first to know when the airdrop is on! More info is available at BTCNEXT, QDAO DeFi and our social media: Twitter, Facebook, Telegram, LINE (for the Japanese-speaking community), and Telegram for English-speaking participants.

Disclaimer: The opinions expressed in this blog post are for general informational purposes only and are not intended to provide specific advice or recommendations to any individual or on any specific security or investment product. It is only intended to provide some education about the financial product. The views reflected in the post are subject to change at any time and without prior notice.