Only 10 days remain before Flare's "hello world" event, the much-anticipated "utility fork" of XRP Ledger. On Dec. 12, Flare Networks—the development team behind the new blockchain—will take a snapshot of XRP balances to calculate the amount of Spark (FLR) token for distribution via the airdrop in early-to-mid 2021.
Top-tier exchanges can assist their XRP holders in claiming FLR; many platforms are trying to catch the last ride.
Huobi, OKEx are on board: giants support FLR airdrop
Today, Dec. 2, the Flare Networks team issued two statements almost simultaneously. It announced that Spark (FLR) airdrop for XRP users will be supported by two cryptocurrency moguls, namely Huobi and OKEx. By press time, both exchanges confirmed their participation.
@OKEx will support the $SPARK Airdrop Program for $XRP holders: $XRP Deposits & Withdrawals will be suspended from 12:00 p.m. UTC Dec. 11. Snapshot of users' $XRP tokens at 12:00 a.m. UTC Dec. 12.
Additionally, OKEx informed its XRP holders that neither deposits nor withdrawals will be available between 12:00 p.m. UTC on Dec. 11 and 12:00 a.m. UTC on Dec. 12 to ensure the correctness of snapshot.
For Huobi, this "moment of silence" will last between 11:00 p.m. on Dec. 11 and 12:00 a.m. on Dec. 12 (UTC). To be eligible for the airdrop, an XRP holder should have at least 10 XRP by the moment of the snapshot.
According to leading analytics provider Coingecko, both exchanges are included in the Top 5 by trading volume. Huobi Global processed $3.9 billion in the last 24 hours while OKEx processed $2.7 billion.
When will users receive their FLR tokens?
In its detailed blog post that explains the conditions of the airdrop, Huobi Global shared the detailed time framework of Spark (FLR) token release. Previously, it has been announced that FLR will be released in "early" or "early-to-mid" 2021.
By contrast, Huobi disclosed that 15 percent of FLR will be released when the Flare mainnet goes live, which is expected within six months. The rest of the FLR supply should be expected within 25-34 months.
As covered by CryptoComes previously, crypto exchange giants have only recently begun to release statements about the support of FLR airdrop.
Although negotiations for FLR distribution by flagship platforms were initiated in October, Binance, Kraken, Bitstamp and Bithumb joined the club of airdrop supporters only in late November.