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Do we an estimate of total XRP counted in the Flare snapshot?


meegwell
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8 hours ago, joe91 said:

I may sound as a troll here;) :wacko:

but again! (as I did not receive any direct answer from Flare team for whatever reason!)

 

If I set my messagekey, before the snapshot, can i set it up again, before the Bot starts distributions later next year, if I have not set the messagekey correctly! The wise people have spoken and said - "yes" you can!

 

But why Flare is silent!

 

Maybe their bot is lazy, and  it reads all the snapshot messagekeys, and then goes day by day until the deadline at June!

 

:hunter:

 

 

 

They answer questions in discord or telegram, I also didn't get a reply from the contact form (in hindsight I must admit my question was a bit stupid so never mind) 

You can update the messagekey, the state connector nodes make that a part of Flare once the network launched.

If you need answers, try here: 

https://flare.xyz/flares-presence/

(discord seems most active) 

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@joe91 You can also think about it like this...

If you self custody you have until June 11 to actually claim by adding the message key. If you haven't yet then there is no message key/flare address associated with your account and therefore they would not be able to distribute to you if only using the data retrieved from the snapshot. They will require further scans of the XRPL to get the flare addresses added after the snapshot(this must be the state connector nodes sotong is talking about).  I believe the snapshot is only going to be used to determine the amount of XRP in every wallet.

Also, I remember a conversation about your question somewhere(discord?) and they said you would be able to change the messagekey as many times as you like up to distribution.  Sorry, I can't remember where that was. 

This makes me wonder how they are going to calculate the correct ratio of unclaimed spark.  They shouldn't be able to determine correct amount until they have all the claims finalized. 

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7 minutes ago, Hydnum said:

This makes me wonder how they are going to calculate the correct ratio of unclaimed spark.  They shouldn't be able to determine correct amount until they have all the claims finalized. 

That’s why they use a snapshot.  It is calculated based on the number of XRP in accounts on Dec 12th.  It doesn’t matter how much is in the account on the actual claim day.

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Maybe I am missing something about how they are calculating the ratio.

I thought they were going to determine that using the amount claimed...maybe that was just concerning the exchanges?  I thought they were also going to take into account the amount claimed by self custody.

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34 minutes ago, Hydnum said:

Maybe I am missing something about how they are calculating the ratio.

I thought they were going to determine that using the amount claimed...maybe that was just concerning the exchanges?  I thought they were also going to take into account the amount claimed by self custody.

Maybe it's a little far fetched -I am guessing- but since they will provide the Spark in tranches (first tranch being 15% ?), maybe they make the claims final with the first batch so they have at that point a final list of all participants that want to claim and then on basis of that determine the definite ratio?

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18 minutes ago, jn_r said:

then on basis of that determine the definite ratio?

Now that you mention it, they have left a lot of wiggle room in how long it will take for them to distribute.  They may have a definitive answer June 11th and would then know how much longer it would take or final distribution...I don't know It's all speculation at this point, lol.

I read up on this before they even mentioned the staggered distribution.

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5 hours ago, Hydnum said:

Maybe I am missing something about how they are calculating the ratio.

I thought they were going to determine that using the amount claimed...maybe that was just concerning the exchanges?  I thought they were also going to take into account the amount claimed by self custody.

I would have to go back and reread the doco they have released,  but I believe it’s the amount possible to claim they use in the calc.

And that is known since the snapshot.  What WE don’t know is who is on the blacklist (and therefore not available to claim).

So I think it’s just a straightforward business of applying the formula because there are no unknowns to them.

We won’t know for sure until they say but they have every figure they need right now.

So I don’t think it needs wiggle room or anything else tricky...  it’s perfectly straightforward once you know who is blacklisted (and they do).  The only uncertainty till June is how many will claim and therefore how many will be distributed.  I thought unclaimed would be burnt but I noticed someone saying that they may be used as incentives for stakeholders.

I think people over complicate all this...  it’s pretty straightforward really.

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6 hours ago, BillyOckham said:

I think people over complicate all this...  it’s pretty straightforward really.

It is indeed straightforward. They overcomplicate things because they don't even bother reading the FAQ.

How many times has it been told that unclaimed Spark will be burnt, still you read all kind of assumptions over here, on Twitter and anywhere else.

The distribution ratio Spark per XRP only depends on the participation of the exchanges. In order to determine this ratio, they remove the XRP held by Ripple and the XRP held by non paticipating exchanges from the calculation. Only non-participating exchanges can therefore make the ratio move above 1. Spark that are not claimed by June 11 will be burnt.

Some groups are taken into account for the calculation of the ratio, but won't actually receive their Spark: Jed, fraud & theft accounts and whales that are capped at 1 b XRP. Those Spark go into the incentive pool instead of being distributed.

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1 hour ago, xrpthestandard said:

It is indeed straightforward. They overcomplicate things because they don't even bother reading the FAQ.

How many times has it been told that unclaimed Spark will be burnt, still you read all kind of assumptions over here, on Twitter and anywhere else.

The distribution ratio Spark per XRP only depends on the participation of the exchanges. In order to determine this ratio, they remove the XRP held by Ripple and the XRP held by non paticipating exchanges from the calculation. Only non-participating exchanges can therefore make the ratio move above 1. Spark that are not claimed by June 11 will be burnt.

Some groups are taken into account for the calculation of the ratio, but won't actually receive their Spark: Jed, fraud & theft accounts and whales that are capped at 1 b XRP. Those Spark go into the incentive pool instead of being distributed.

Yes you are correct. I will put the link and narrative here for completeness, so we are clear :-)

https://blog.flare.xyz/further-information-on-the-spark-token-distribution/

Screenshot 2020-12-18 at 10.45.40.png

Edited by jn_r
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5 hours ago, xrpthestandard said:

don't even bother reading the FAQ

Well that escalated quickly...Just FYI I have read the FAQ but it was a while ago, as I mentioned.

I admit I should have jumped over to check it again but I didn't.

Anyway, Hugo mentioned on Discord that they will be releasing the ratio today and it is close to 1.

Back to lurking for me....

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6 hours ago, Hydnum said:

Well that escalated quickly...Just FYI I have read the FAQ but it was a while ago, as I mentioned.

I admit I should have jumped over to check it again but I didn't.

Anyway, Hugo mentioned on Discord that they will be releasing the ratio today and it is close to 1.

Back to lurking for me....

I don’t think there are any bad questions.  I hope we don’t ever get so jaded that we dismiss things that people are wondering about.  If possible we should try to make as much information as possible as easy as possible to find and understand.

Unfortunately that is no easy task.

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19 hours ago, Hydnum said:

Well that escalated quickly...Just FYI I have read the FAQ but it was a while ago, as I mentioned.

Don't take it personal @Hydnum. There are a lot of discussions over here about things that are actually just on their website. You read the weirdest things about distribution ratios and incentive pools, XRP excluded from the distribution. There is a lot of wrong information on the forum, not intentionally I am sure, but we lose a lot of energy discussing things that are obvious.

 

Edited by mrenne
sth went wrong
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Thanks @mrenne I think I took it bad because I feel the same way and don't want to be one to add to the garbage! :dash1: 

I understand your point and am surprised at the patience of some of the folks on here. I often read post and wonder why they are asking something as it was answered just above.  Long time lurker so it's easy to fall back into it. 

 

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