Uphold to Support Airdrop of XRP's Utility Fork

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Wed, 09/02/2020 - 19:20
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Alex Dovbnya
XRP's utility fork Flare Networks is gaining traction as Uphold announces support for the forthcoming airdrop of the Spark token
Uphold to Support Airdrop of XRP's Utility Fork
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In its Sept. 2 tweet, trading platform Uphold has announced support for the upcoming airdrop of Flare Network's Spark tokens.

“After fervent public commentary: we’re delighted to announce that Uphold is supporting the Spark Token Airdrop. You'll receive Spark Tokens on a 1:1 basis to the amount of XRP you hold on December 12, 2020 - the 'snapshot' date.”

A much-anticipated airdrop

Flare Network is a utility fork of XRP, the fourth-largest cryptocurrency by market cap, that brings smart contract functionality to the XRP Ledger.

All XRP holders will be able to claim that network’s native Spark token (FXRP) that will be credited on the 1:1 basis during the airdrop that was announced in August. Ripple Labs and will its ex-employees will not be able to participate.  

More than 5,400 accounts signed up to take part in the airdrop in only a few days:

“We’ve been amazed at the amount of interest in Flare over the past few days! Since announcing the process for preparing your XRPL account to receive Spark on Friday, there has been over 295 million XRP contained in XRPL accounts that have set their accounts to receive the Spark token.”

Spark
image by @ronaldonline777

Uphold became the second notable exchange after Bitrue to support the airdrop.

On Aug. 31, Flare Networks revealed that the “snapshot” of the XRP Ledger for distributing XRP token is going to take place on Dec. 12. 

The date is not arbitrary — it will be devoted to the 194th anniversary of Martha Coston’s birthday. She was an American inventor mainly known for making maritime exploration much safer by devolving long-lasting signal flares that are still utilized by the U.S. Navy.

Related
Adam Back Calls XRP Losing Its Genesis Block "Biggest Fail Yet"

Flare gets praise from Ripple CEO 

As reported by U.Today, Flare recently floated the idea of building a trustless bridge with Ethereum.

Ripple CEO Brad Garlinghouse recently opined that the next-generation blockchain combines “the best” of XRP, Ethereum, and Avalanche.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.