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Flare networks - Spark token to XRP holders


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4 minutes ago, jbjnr said:

Also, during the 3 years of the snapshot release, many users will lose their keys

That also applies to the users XRPL accounts, losing that key means the message key cannot be updated. Proper key management is on the user. As mentioned, assume that you'll at least be able to dry run your wallet before Flare Network mainnet launch and you no longer can change your distribution address. 

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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   

4 minutes ago, xrptoolkit said:

Yes. The time period I'm referring to is between the snapshot date 2020-12-12 and Flare Network launch mid-2021.

But that is in contradiction to what Flare say.  I will try and find the relevant doco and quotes.

 

If what you say is true then many of us here are incorrectly understanding the situation and many will potentially miss out if that is not corrected.  I’ve written a faq here that is totally incorrect if what you say is true.

 

With enormous respect I’m pretty sure you are wrong,  (even though you are obviously better placed to be correct than I am).  I mean no disrespect here...  but this is critical and we need to get it clear.  Do you have any official links that say you can’t claim after the Flare genesis block is created?

 

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4 minutes ago, xrptoolkit said:

Assume better wallet support will be available before Flare Network launch. Also assume you'll be able to test your wallet set as message key.

Assume that many many users between now and 3 years in the future will mess up their flare addresses/keys/whatever. Assume that a few hours work now, will save you thousands of emails and FAQs in the future.

1 minute ago, xrptoolkit said:

That also applies to the users XRPL accounts, losing that key means the message key cannot be updated. Proper key management is on the user. As mentioned, assume that you'll at least be able to dry run your wallet before Flare Network mainnet launch and you no longer can change your distribution address. 

Quite right, but what you are saying in effect is that nobody will lose their flare secret and not lose the xrpl secret at the same time (which frankly is arrant nonsense).

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Unless....    if the Flare blockchain is started at the very end of the claim period then you could use a static import of addresses.   (On June12th....   I think that’s the date the claim period ends)

 

Did we inadvertently reveal the exact day it will start?  

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12 minutes ago, jbjnr said:

however, I generated my own ETH addresses using scripts I downloaded from various places and tested them as best I could for validity - but I can't rule out the possibility that I messed up.

Then I suggest you change your message key to for example DCENT wallet app or any of the coming Flare wallets, before mid-2021.

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7 minutes ago, xrptoolkit said:

Then I suggest you change your message key to for example DCENT wallet app or any of the coming Flare wallets, before mid-2021.

I can easily change my message keys any time - and I'm not really worried about losing FLR. I am concerned that many many others who do not know what they are doing are going to lose theirs, and a small amount of work on the part of you and your collaborators could potentially make this process more flexible going forward. If you spend any time on forums like this, you will be aware of the extreme cluelessness and ineptitude of the vast majority of xrp holders and posters to this forum. It's them I'm thinking of. (...and being selfish - I don't want to read endless threads from them about how they can't access their FLR and new airdrops are appearing in their wallets every month that they cannot access).

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1 hour ago, BillyOckham said:

With enormous respect I’m pretty sure you are wrong

You're correct. The details in the distribution process blog on flare.xyz states:

"Note: If a claim is made after network launch (within the 6 month window) then the amount received to that account will be the 15% from the initial distribution + any additional amounts that have unlocked." 

It seems they'll feed the Flare Network once, to not have to backfill, but then monitor for message keys (I claimed they wouldn't but was clearly wrong).

It's still unclear if Flare will honor updating message keys between distribution events. I'll make sure it's forwarded to the team and try to accommodate as flexible process as possible.

Edit: The 6 month window runs from 2020-12-12 to 2021-06-12. If the Flare Network monitors for message keys or not will depend on the launch date.

Edited by xrptoolkit
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Just now, xrptoolkit said:

You're correct. The details in the distribution process on flare.xyz states:

"Note: If a claim is made after network launch (within the 6 month window) then the amount received to that account will be the 15% from the initial distribution + any additional amounts that have unlocked." 

It seems they'll feed the Flare Network once, to not have to backfill, but then monitor for message keys (I claimed they wouldn't but was clearly wrong).

It's still unclear if Flare will honor updating message keys between distribution events. I'll make sure it's forwarded to the team and try to accommodate as flexible process as possible. 

You sir, are a gentleman and a scholar!   Thanks so much for clarifying and for passing that on.  Really appreciate your engagement here.

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1 hour ago, BillyOckham said:

Unless....    if the Flare blockchain is started at the very end of the claim period then you could use a static import of addresses.   (On June12th....   I think that’s the date the claim period ends)

I just confirmed this with the team. They will have to monitor for new message keys if and only if Flare Network mainnet is launched before 2021-06-12. The ONLY 6 month claim window runs from 2020-12-12 to 2021-06-12. 

 

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I followed all the steps on the XRP toolkit for my flare spark distribution.  I even updated my Ledger Nano S to the current update.  I followed the flare instructions to put the new ETH account in the message key and -the Ox and hit update.  I did the accepted signature transaction.  Up pops up a Transaction failed box - public key too long.  Any suggestions XRP Army?2021-01-24.thumb.png.ba6129b3242a655928cd1f82e45c42c9.png

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Question:

Since the spark airdrop will take place over a period of several years (3 I think), and since the spark token is inflationary, with around 10% of the existing supply created annually. Do we know if

a) The created supply at the end of year #1 will be linked to the (15%+monthly feed) = ~33% of the total in circulation rather than the headline 100% figure?

b) Will airdrops that take place after new spark tokens have been minted in year #1 be 'index linked' to inflation of the spark supply? If not, then your total receipts may in fact be around 20% less (in terms of total supply) than they would be had inflation not been present. If minting is a continuous process going on through the year, then even those received in year #1 will be deflated by some amount before you even get them.

Anyone know if this has been asked already?

Edited by jbjnr
edit : typo
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  • 2 weeks later...

Hello again.


I have a few questions.

Will we have an opportunity to swap all ERC20 tokens between each others on the first day of Flair launch?
I configured my XRP account (edited message key) before a snapshot. I used to do it after I generated my ETH account (by MEW site). I assume that everything was done properly. Should I need to do something more?

Regards

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On 1/25/2021 at 3:28 PM, xrptoolkit said:

Then I suggest you change your message key to for example DCENT wallet app or any of the coming Flare wallets, before mid-2021.

No impact for those who hold their flare on a supported exchange right? All this talk about setting message keys and what not are only for those who use a digital wallet to hold their tokens.

Edited by Scout
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  • 1 month later...

I currently live in NY and have just learned I as  New Yorker am not allowed to get the spark tokens?Any info would be helpful...Got to be alot of NYers in the same spot.What are you all doing?Do I need to Move?

Edited by RSA13
Misspelling
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