Jump to content

Flare networks - Spark token to XRP holders


Recommended Posts

14 minutes ago, LordAMV said:

How would this work for those who did the airdrop on an exchange?  Would they still receive follow up deposits into their exchange account?

That would be totally up to the exchange.

I would hope that Flare would contract each exchange to obligate them to convey each tranche out to their entitled customers. But this is not a logistics detail I've seen documented anywhere...  If you care, contact your exchange's support (after searching their FAQ of course).

Link to post
Share on other sites
  • Replies 560
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Because so many people seem confused about this whole claim process I am going to write a short explanation of what happens and why.  It’s not a how to...  others are doing that.  It’s a ‘what happens

Can be massive.

apologies if this has already been posted on this thread - great read if you enjoy Galgitron's style http://galgitron.net/Post/DeFi-Defined   

Hello All,

Please advise to below.
I often read about Flare and I am curious about the ways how to get Flare tokens.

I see two ways to get them - am I correct?

First:
1. ETH wallet generated by MEW website.
2. ETH wallet modified by 24 zeros and 02 prefix.
3. Change Message Key by Bithomp Tools (I prefer that one).
4. Wait for 12th of December.
5. After that date confirm my Spark tokens.
 

Second:
1. Transfer my XRP into one of the supported exchange (i.e. Bitstamp or Kraken).
2. Wait for 12th of December.
3. My exchange will claim Flare on my behalf.

Do any of the examples above have weak points? I think that moving my XRP into exchanges are more dangerous. Exchange can be hacked. When I use first method I won't exposure myself at any risk.

And the last question. How can I claim my Flare tokens after 12th of December by Bithomp Tools (first method)?

Thanks for the response.

Link to post
Share on other sites
43 minutes ago, PrzemyslawL1987 said:

Hello All,

Hello. Because you self custody You have 6 months after the 12th of December to set the ‘message key’ and claim the spark tokens. So no need to rush to do the message key.

As long as your XRP are in your XRP wallet before the 11th, you’ll be okay. Flare will give more instruction on how to claim next year.

You can use Bithomp Tools offline or you can try this tool offline to set the message key: 

 

Edited by Flintstone
Link to post
Share on other sites
45 minutes ago, PrzemyslawL1987 said:

Hello All,

Please advise to below.
I often read about Flare and I am curious about the ways how to get Flare tokens.

I see two ways to get them - am I correct?

First:
1. ETH wallet generated by MEW website.
2. ETH wallet modified by 24 zeros and 02 prefix.
3. Change Message Key by Bithomp Tools (I prefer that one).
4. Wait for 12th of December.
5. After that date confirm my Spark tokens.
 

Second:
1. Transfer my XRP into one of the supported exchange (i.e. Bitstamp or Kraken).
2. Wait for 12th of December.
3. My exchange will claim Flare on my behalf.

Do any of the examples above have weak points? I think that moving my XRP into exchanges are more dangerous. Exchange can be hacked. When I use first method I won't exposure myself at any risk.

And the last question. How can I claim my Flare tokens after 12th of December by Bithomp Tools (first method)?

Thanks for the response.

In addition to Fred's helpful comment below, I have posted a solution to avoiding any exposure of your private key to your XRPL account.

( even Wietse gave it a like :) ) 

 

Link to post
Share on other sites
6 minutes ago, LordAMV said:

Hmm, well now confused a bit more.  Bitstamp comments on this say that although they're participating, they may not actually list Flare.  So how exactly would we be able to access it after it is deposited into the account?

They'd have to support withdrawing it to a destination address.

Link to post
Share on other sites
1 minute ago, LordAMV said:

Do we know which US based exchanges will have that functionality?

I'd assume every exchange supporting the snapshot and claiming will provision a means to withdraw it out too.
( see Flare's definitive list of supporting exchanges : https://flare.xyz/supporting-exchanges/ )
Note: Binance US is now confirmed (see post for details)

Link to post
Share on other sites

Even if the spark airdrop ends, it does not necessarily mean that XRP will be sold in large quantities.

When the Flare Network starts, a DeFi service on the Flare Network, such as Flare Finance, will be launched. 
There will also be airdrops of Yield Flare (YFLR) to Spark token (FLR) holders. 

There will be a series of airdrops such as YFLR to Spark holders of the platform's major tokens, and also to FXRP. 
There will be a number of airdrops.

Furthermore, if you have Spark (FLR) and FXRP etc. you can do yield farming. And it looks like you will be able to start harvesting YFIN and YMIN. 

https://www.flow.page/flarefinance

Ethereum's DeFi service has sent these tokens soaring. 

I'm still unsure, but if you get XRP or Spark now, your future asset building could be significant due to continuous token distribution once the DeFi service begins.

So even if this Spark airdrop ends, it doesn't necessarily mean that XRP will be sold in large quantities. 

The reason why ETH has gone up about 300% since Ethereum's DeFi service started is because of this kind of mechanism.

Rather, I think the XRP and Spark holdings will increase more and more.

Edited by jabit
Link to post
Share on other sites

What do you guys think!

Private wallet is better for this airdrop, or its technically the same, am I claiming myself, or through a participating exchange?!

I mean maybe in terms of Sparks its technically the same, but what about Flare Finance further airdrops, and other future possible airdrops or farming opportunities or whatever, exchanges do not guarantee I guess that they will pass on any further airdrops to holders of Spark?!

Or what can be future risks of me claiming Flare Finance token for example by going to their 'network' and exchanging their DAO for actual Flare Finance tokens, if I doing it via my private wallet?!

The complexities of crypto environment become more interesting and sophisticated with each passing month i guess...... :blink:

 

Also, as a side question, can Bob Way be involved in this in anyway?! because if I remember correctly, his ideas were very similar to all those Flare Spark, Flare Finance, etc. concepts............:big_boss:

Link to post
Share on other sites

Developers will also announce innovative tokens and Dapp on the Flare Network because of the availability of Ethereum code. Considering the growth potential, there is absolutely no advantage not to announce it on the Flair Network, where there are many holders of XRP, the third largest market cap. 

Rather, the Flare Network will make it easier for Dapp and tokens to congregate across blockchain boundaries in the long run, and that collaboration will be possible. It will also make it easier for new Dapp to gather, the type of Dapp that didn't exist in Ethereum. 

And the fees aren't as high as they are with Ethereum, and it's  burdensome for developers and operators to stay in Ethereum which is a gradual upgrade. 
So we'll see more developers moving to the flare network. 

The base asset, XRP (FXRP), will also be required to purchase DeFi tokens.
they are borned in succession as we have seen in Ethereum. 
Naturally, we can expect the usage (demand) to be high within the flare network, especially for XRP (FXRP), which is the base asset held by Spark holders. 

I buy a lot of XRP while I'm at it.:D

DeFi tokens are selling governance's tokens and extremely limited supply of tokens, and there are many currencies that are soaring! 

I will also enjoy investing in DeFi tokens.

 

And it's not just DeFi tokens, but to various decentralized markets
This is the entrance.

Fly to the moon XRP‼

Edited by jabit
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.