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Flare networks - Spark token to XRP holders


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1 hour ago, stickynoodle69 said:

How do users get penalized? Their Flare gets burned like being slashed in PoS? Oh man idk about this. Interesting but initial thoughts from people are going to be a no no.

Nope, they get penalised because rewards from reward pools and inflation rewards go to those who are using their tokens on the system. This video explains it very well:

 

 

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Ah so 10% inflation is only in the beginning. I think polkadot has a similar inflation rate in the beginning. Im starting to see a pattern here.  Eth and Dot don't have true max supply. So Smart contract platform coins dont have true max supplies, why not? Whereas coins like BTC, XRP, basically any non smart contract coin don't have infinite supply, but deflate instead. 

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1 hour ago, Rattlebuck said:

This has probably been asked before. Need to know how to get Spark tokens. I purchased my XRP on Dec 19, 2021.

The snapshot of the XRP Ledger was on the 12th of December. So if you did not have XRP on the 12th, you will not be eligible for the airdrop unfortunately.

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I participated in the snapshot on Dec 12 and purchased some more xrp after the snapshot. Now, how can I make sure that I get all the spark tokens and not just the amount that I had originally on Dec 12? As far as I know it is still possible to claim Spark until June 2021, so I would like to get the full amount. Appreciate any insights and sorry if this was already answered before.

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7 hours ago, User1463729 said:

I participated in the snapshot on Dec 12 and purchased some more xrp after the snapshot. Now, how can I make sure that I get all the spark tokens and not just the amount that I had originally on Dec 12? As far as I know it is still possible to claim Spark until June 2021, so I would like to get the full amount. Appreciate any insights and sorry if this was already answered before.

Read the comment from @Flintstone above yours. Anything after the snapshot isn’t eligible to free tokens after the snapshot. If you want more you’ll have to buy it on release. 

 

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My friends!

Still a question, after dust has settled on the airdrop!

 

Can we change message key after the snapshot?!

 

For example, i had wrong address put in at snapshot date; can I now change it, to a desired, correct one, before Flare network goes live and Flare bot starts reading accounts for distribution?!?

 

I know its a repeat question, but maybe some brilliant minds here, got some definitive info on this issue?!

 

Thank You in advance!

 

:air_kiss:

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4 hours ago, joe91 said:

My friends!

Still a question, after dust has settled on the airdrop!

 

Can we change message key after the snapshot?!

 

For example, i had wrong address put in at snapshot date; can I now change it, to a desired, correct one, before Flare network goes live and Flare bot starts reading accounts for distribution?!?

 

I know its a repeat question, but maybe some brilliant minds here, got some definitive info on this issue?!

 

Thank You in advance!

 

:air_kiss:


Its unclear exactly how they will be determining Flare address...   from the snapshot,  or current at time of distribution? Probably Flare will clarify as time goes on.

But in your case...   you have nothing to lose by changing it do you?

If it was wrong, and you fix it, and they use current one,  then you are golden.

If it was wrong, and you fix it, and they use snapshot wrong one,  then you are out of luck but no worse off.

Thats just me guessing though.   I think it will be clearer in a month or two.

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@xrptoolkit can you please confirm that tweet above?  Does it come from some insider knowledge or some doco or announcement from Flare?


If you are aware of the mechanics then also may I ask please...   say it’s done to the Flare address on the ledger at the time of distribution,  is it re-read at subsequent months?

In other words, can you change the address during the years of distribution to possibly multiple addresses?

 

Just wondering about it because I’m almost certain that at least some people will lose keys (or never have them in the first place) and so will want to start again as it were...

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3 hours ago, BillyOckham said:

@xrptoolkit can you please confirm that tweet above?  Does it come from some insider knowledge or some doco or announcement from Flare?


If you are aware of the mechanics then also may I ask please...   say it’s done to the Flare address on the ledger at the time of distribution,  is it re-read at subsequent months?

In other words, can you change the address during the years of distribution to possibly multiple addresses?

 

Just wondering about it because I’m almost certain that at least some people will lose keys (or never have them in the first place) and so will want to start again as it were...

XRP Toolkit is created and maintained by Towo Labs, a development partner for Flare. Users can update their message key at any time until the first Spark (FLR) distribution occurs on the coming Flare Network. The intention is as you described to avoid users with lost keys AND to allow users to direct their claimed Spark to the best possible Flare-compatible wallet. A number of wallets is under development and existing wallets may not be the preferred choice. For example, DCENT Wallet (both their hardware wallet and mobile wallet) seems to support Flare Finance from day one. Users may therefore want to change their message key to for example DCENT Wallet and they can.

Edited by Guest
Typo
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15 hours ago, B088IN said:

Read the comment from @Flintstone above yours. Anything after the snapshot isn’t eligible to free tokens after the snapshot. If you want more you’ll have to buy it on release. 

 

Thank you for your response. I read the comment, but I was confused, because on the website of flare it says, that you can claim 6 months after the initial snapshot. From my understanding it means, that ppl. can still receive free spark tokens for xrp purchased after 12th of December. 

image.png

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14 minutes ago, User1463729 said:

Thank you for your response. I read the comment, but I was confused, because on the website of flare it says, that you can claim 6 months after the initial snapshot. From my understanding it means, that ppl. can still receive free spark tokens for xrp purchased after 12th of December. 

image.png

No, my understanding is that the snapshot was taken which allocates the relevant Flare to each account during that snapshot. If you self custody your XRP you 6 months to actually claim the token. You can’t purchase additional XRP after the snapshot and then try to claim additional Flare tokens. The snapshot has been and gone, if you didn’t have XRP during that time, you won’t receive Flare tokens. 
If I’m incorrect I’m sure someone will be along to clarify 👌

Edited by B088IN
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3 hours ago, xrptoolkit said:

XRP Toolkit is created and maintained by Towo Labs, a development partner for Flare. Users can update their message key at any time until the first Spark (FLR) distribution occurs on the coming Flare Network. The intention is as you described to avoid users with lost keys AND to allow users to direct their claimed Spark to the best possible Flare-compatible wallet. A number of wallets is under development and existing wallets may not be the preferred choice. For example, DCENT Wallet (both their hardware wallet and mobile wallet) seems to support Flare Finance from day one. Users may therefore want to change their message key to for example DCENT Wallet and they can.

Thank You so much for your information! 

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