On December 12, a hard fork will happen in XRP coin. And an airdrop will take place for everyone who holds an XRP in a supported exchange and will receive the Spark token - a name for the token given by the Flare network.
Who are eligible for an airdrop?
Every account or someone that holds XRP coin in the supported wallet is eligible to receive the fork coin or the Spark token.
What wallet is required for Spark token airdrop?
The airdrop distribution has a lot of exchanges that will get support from. Some of it are;
Binance
Aprobit
BigOne
Biki
Bitay
BitBay
BNS
Bitexen
Bitfinex
Bithumb
If you want to know more about all the exchanges that will support the Spark token airdrop, you can check this link flare.xyx/supporting-exchanges. To view all of the exchanger that will suit you.
Supported Non-custodial wallet.
We all care for our security and we know that exchanges are custodial and have custody over our assets if we put it to them. That's why the Flare network also allows participants to receive the airdrop token in some Non-custodial wallets. Some of the non-custodial wallets that will support the Spark toke airdrop are;
Exodus wallet
Trezor wallet
I only gathered or researched two of these Non-custodial wallets and more of them might announced to support the Spark token airdrop.
How much will be the value of Spark Token?
Unfortunately, no one will know what value the airdrop token will have. Some forked coins can lose their value dramatically and some can also rise. And that goes also for Spark token, no one can really say if its value will be more or less than its original coin - XRP.
Will I receive immediately the token after the fork?
No, after the fork that will happen on December 12, 2020, the Flare network will take a snapshot to every account that holds XRP. And when the Flare network is already live, which will happen within the first quarter of year 2021, this distribution of the token will take place.
The ratio
Just like any other forks, the ratio of receiving Spark token is 1:1. This means that, for example, if you have 100 XRP in a supported wallet, after the snapshot and when the Flare is live, you will also receive 100 Spark tokens.
My prediction
If the Flare network will have more projects and adoptions than those with XRP, then I can see a great future with holding the Spark tokens that I will receive. Though it might have a little value after it will launched, the Flare network and the Spark token has great concepts that might push its value higher and might become profitable in the long run.
Lead Image from : medium.com
Am holding xrp.hoping that this launch will be successful