After BCH hardfork last month, major altcoin world is having another round of airdrop, this time round is the 3rd largest crypto -XRP.
Initially there is some need for XRP holders to take note for this upcoming airdrop which will be happening on 12 Dec 2020 (less than a week !) , because not all major exchanges supporting the airdrop. As such, we will have to refer to the list in the Flare Network which is supporting this (https://flare.xyz/supporting-exchanges/).
But approaching nearer to the date, The big exchange in US Coinbase finally announced today that they support this airdrop also .
Not sure why Coinbase decision is so late, only the final weekend they decided to follow suit with peers considered they are having a large stock of XRP. With so large stake of XRP also the board of management in Coinbase also never make sensible decision in time. As normal people like me also can think this would be a huge lost of opportunity cost, and also a large outflow of XRP away from Coinbase to other exchanges.
Anyway, this Flare network can enhance the interoperability of XRP which is good for the crypto in long run, at least we can foresee in near future, there will be alot of Defi product in XRP eg FUSD (stable coin), FETH , FBTC etc. So XRP will stay competitive amid its huge potential of replacing the SWIFT network .
The Spark token comes from a new company, called the Flare Network, which is a distributed network running the Avalanche consensus protocol adapted to Federated Byzantine Agreement and leveraging the Ethereum Virtual Machine.
This allows the new network to deploy existing Ethereum applications on Flare and allows the network to be integrated in decentralized Finance. The role of the token is to colaterize the trustless issuance of FXRP on Flare. These tokens will also be used to generate useful data on Flare through an oracle system, and they are also used for network governance and spam prevention.