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XRP Holders to Be Rewarded With Airdrop From Korea's Largest Crypto Exchange

Fri, 03/17/2023 - 13:12
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Gamza Khanzadaev
Korea's major centralized crypto platform announces airdrop for all XRP holders
XRP Holders to Be Rewarded With Airdrop From Korea's Largest Crypto Exchange
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Korea's largest crypto exchange, Upbit, announced its participation in an airdrop of xCORE tokens for all XRP holders. In addition to them, rewards will go to holders of SOLO, the token of one of the top projects on the XRP Ledger, Sologenic. Earlier, another major exchange, MEXC, announced a similar event.

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Upbit, XRP and Coreum (CORE)

In order to get xCORE on Upbit as an XRP or SOLO owner, you need to have tokens in your exchange balance at the time the snapshot is taken. This is scheduled to happen on March 24 at 1:00 p.m. Korean Standard Time. The xCORE airdrop itself will take place later, on May 15. A total of 50 million tokens will be distributed during the event, equally between SOLO and XRP holders.

In its announcement, Upbit notes that support for the airdrop is not a guarantee that the exchange will support transactions. In addition, two hours before the snapshot is taken, the exchange will suspend XRP and SOLO deposits and withdrawals.

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As covered by U.Today, xCORE is a token-option for a native token of Coreum (CORE), a Layer 1 decentralized blockchain created by the Sologenic Development Fund to fill the needs for Sologenic that XRPL cannot meet. The upcoming airdrop is timed to coincide with Coreum's launch on the main network.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.