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Twelve Japanese exchanges will distribute Spark Token.


hamasugu
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Thank you Hamsugu, you make me realise this is even more exciting than I

17 hours ago, hamasugu said:

I think Spark is important as bringing smart contracts to XRP.

When DApp or DEX comes in the flare network, XRP will be converted to FXRP.
If XRP is converted to FXRP, sparks need 2.5 times the value of XRP. 
The demand for sparks will increase as flare networks become more widespread.
And sparks increase value.

 

.  Thank you @hamasugu.  I am not a technical person, so your explanation really helps.  I do not understand this: If XRP is converted to FXRP, sparks need 2.5 times the value of XRP. 

Does this mean that each each XRP token needs enough Sparks to be equal t 2.5 times its value?  Whatever it means, it seems that Sparks will be very valuable tokens after they begin to get used and it would be stupid to sell them early!

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53 minutes ago, Julian_Williams said:

Does this mean that each each XRP token needs enough Sparks to be equal t 2.5 times its value?

No, it means WHATEVER the value of Spark or XRP is, you need 2.5x of same equivalent value of XRP "locked up". 

So if XRP is $1 and Spark is $0.10, you would still need $2.50 worth of Spark ($1 x 2.5), which would mean 25 Sparks (0.10 x 25 = $2.50) as collateral, per 1 FXRP. 

As a consequence, it MIGHT be that this increases Spark ($FLR) value over time by restricted the available supply when locking up tokens as collateral. One of Spark's use cases, in other words, is as locked collateral for FXRP, which will remove a chunk of tokens from immediate circulation while creating demand.

On the flip side, this added utility (smart contracts, etc) coming to XRP ledger MIGHT add demand for XRP as well, and if XRP price goes up, more Spark tokens are thus required as collateral for FXRP, further impacting the available supply of Spark tokens. And so on. 

Edited by thinlyspread
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1 hour ago, thinlyspread said:

No, it means WHATEVER the value of Spark or XRP is, you need 2.5x of same equivalent value of XRP "locked up". 

So if XRP is $1 and Spark is $0.10, you would still need $2.50 worth of Spark ($1 x 2.5), which would mean 25 Sparks (0.10 x 25 = $2.50) as collateral, per 1 FXRP. 

As a consequence, it MIGHT be that this increases Spark ($FLR) value over time by restricted the available supply when locking up tokens as collateral. One of Spark's use cases, in other words, is as locked collateral for FXRP, which will remove a chunk of tokens from immediate circulation while creating demand.

On the flip side, this added utility (smart contracts, etc) coming to XRP ledger MIGHT add demand for XRP as well, and if XRP price goes up, more Spark tokens are thus required as collateral for FXRP, further impacting the available supply of Spark tokens. And so on. 

A 'virtuous' circle - each driving up the price of the other?  I wonder where the value of XRP and Spark will be in five ten years hence!  People buying the tokens and locking them in pension funds, other tokens locked in Spark Fllare SCs, others in strategic liquidity sinks around the globe, people losing the keys to their wallets.

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27 minutes ago, hamasugu said:

I think people will start locking up FXRP to DEX for yield farming once DEX is started on the flare network. It has the effect of reducing the circulation supply.

Also, many tokens will come to the flare network in the future.
I think it synergistically adds value to XRP and Spark.:)

Do you have any thoughts on how they will be valued?

(okusan wa nihonjin desu yo)

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The Flare blockchain is premised on the same EVM (Ethereum Virtual machine) as the Ethereum blockchain, the Ethereum and many of the same features that are available in Flare. 

Today, EVM is also used in various blockchains and can be said to be an industry standard. For example, if certain DApps are deployed on the Ethereum blockchain, they can be easily ported to XRP Ledger. 

It means that XRP can also get the functionality and compatibility. I've heard campaigns to bring other blockchain DApps to the flare network.

This compatibility will make the flare network grow rapidly.

I don't have a price prediction, Sorry

but I feel there is potential for more than Ethereum 2.0

ETH has grown significantly over the past year. DeFi is one of the reasons for its growth. DeFi will come to XRP in earnest due to the flare network.

Perhaps in the long run the flare network brings usefulness to the majority of tokens across cryptocurrencies.

I believe its key currency will be XRP (FXRP).

Edited by hamasugu
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  • 2 weeks later...

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

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.

 

I think DeFi tokens will also find uses in the long run. I will hold XRP and sparks in the long run.
I think there will be a lot of demand for XRP and sparks now.

And I hope Flair Network will become a smart contract platform that overcomes the blockchain barrier.

Edited by jabit
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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.

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.

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