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XRP Noob Questions on Flare and Spark


XRPnoob007
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I am an investor in XRP because I believe in the technology and think it’s the future. I just got some coins last week. 
 

Can I still get Flare or Spark coins for free? What do I need to do to get them? Or is it too late? Thank you! 

Edited by XRPnoob007
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If you owned XRP on December 12, it's not too late. It hasn't been distributed yet. If your XRP was on a participating exchange at the time, you shouldn't have to do anything. If it was in your own wallets, you have until June 11 to claim it. This post explains how: 

 

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Nope, I only got in on Jan 2021. Oh well what can I do. I guess hope for another airdrop with a later date. Thanks everyone!
 

I guess I’ll miss out on anything else they stack on top like DAOFlare and YieldFlare, etc. well that’s a bummer, but nothing I can do. Thank you! 

Edited by XRPnoob007
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3 hours ago, XRPnoob007 said:

Nope, I only got in on Jan 2021. Oh well what can I do. I guess hope for another airdrop with a later date. Thanks everyone!
 

I guess I’ll miss out on anything else they stack on top like DAOFlare and YieldFlare, etc. well that’s a bummer, but nothing I can do. Thank you! 

You can still participate in the DFLR airdrop by purchasing FLR. The Flare Finance snapshot is a month after Flare goes live.

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When does Flare go live in Q2? Then I would get DFLR for free? 

is Flare and YeildFlare and Spark all the same thing?

Thank you guys so much I am an old man and looking to pass something to my 6 grandchildren. My wife passed away, and we were both hard workers our whole lives in the painting and carpentry business. I would like to show my grandkids that our hardwork did something for them. Thanks eveyone!

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I'm sorry for your loss. I thought I had read something that they were aiming somewhere in March through May to launch, but I can't find the source for that now. I don't think they've given a firm date.

Flare Networks and Flare Finance are two different organizations. Flare Networks is building the Flare Network - this combination of Ethereums smart contacts and Ripples fast amd cheap consensus. Flare Finance is building decentralized financial products (DeFi) on the Flare network.

Spark (which is confusingly abbreviated FLR) is the native coin of the Flare Network (similar to how XRP is for Ripple). The Flare Network is also building in a way to represent other coins on the Flare Network by using smart contacts to ensure that each coin is backed by appropriate value of spark. The call these F-assets. So if you own one FXRP, that means you've got a token that's worth 1 XRP whose value ensured by a smart contact locking up enough FLR to back that token. The hope is that this will eventually result in a trustless exchange. People can use Flare to, for example, exchange their ETH for FETH on the Flare Network, they can then trade that on Ripple's XRPL for FDOGE or whatever they want, and go back through the Flare Network to convert their FDOGE into actual DOGE in their dogecoin wallet. The whole process wouldn't rely on trusting humans like you would trading on an exchange.

Flare Financial is a company building financial smart contracts to run on the Flare Network. They're not the official DeFi company of the Flare Network, they're just the first. Anyone will be able to do whatever kind of business they can implement through smart contacts running on Flare. They're issuing three coins for their various products. Here's a link to them: https://flr.finance/tokens . You might be able to find their distribution schedule on that site, honestly, I'm going to wait until this stuff rolls out to figure out how it works.

Oh, and here's a link where you can read up about the Flare Network: https://flare.ghost.io/

Cryptocurrencies are very risky, don't invest money you can't afford to lose.

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Thank you @brianwalden for your kindness. Took me awhile to read this and understand it so thank you.

What happens if I bought XRP after Dec 12? Can you purchase Spark today? Or do I have to wait? I heard something about an IPO or ICO or something but not sure if I could purchase it. I heard prices of spark all over the place from .30 to $3.00 a spark coin. Not sure what’s true. 

If I purchase SPARK since I won’t get a free airdrop, will I be eligible for the next airdrop such as DAOflare, or will that only go to people who got XRP prior to Dec 12th. Many thanks excited to learn all this. 

 

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If you didn't have XRP on December 12 there's no way to receive FLR in the airdrop. There are a few exchanges who are trading it now, but they're trading IOUs. No FLR exists until the network goes live in a few months (the exact date hasn't been allowed). Basically, when the airdrop happens those exchanges will distribute the actual token according to who owns the IOUs that are floating around.

The Flare Finance snapshot is going to be a month after the Flare Network goes live. So you'll have time to buy FLR before the snapshot.

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7 hours ago, brianwalden said:

If you didn't have XRP on December 12 there's no way to receive FLR in the airdrop. There are a few exchanges who are trading it now, but they're trading IOUs. No FLR exists until the network goes live in a few months (the exact date hasn't been allowed). Basically, when the airdrop happens those exchanges will distribute the actual token according to who owns the IOUs that are floating around.

The Flare Finance snapshot is going to be a month after the Flare Network goes live. So you'll have time to buy FLR before the snapshot.

Yes I am not looking for an airdrop of SPARK. I’m looking to see how much FLR is so I can buy it. What exchange can I buy an IOU at? Will it be cheaper or hard to say when it goes live. 

If I have IOU or if I have the FLR coins when it’s live then I can get DAOflare as an airdrop right even if I owned XRP after dec 12? Thanks! 
 

I know I’m not eligible for the airdrop for Spark but wondering if I will be eligible for DAOflare if I buy the coins. I just don’t wanna miss out on fee stuff going forward I guess. Thanks again! 

Edited by XRPnoob007
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15 minutes ago, XRPnoob007 said:

Yes I am not looking for an airdrop of SPARK. I’m looking to see how much FLR is so I can buy it. What exchange can I buy an IOU at? Will it be cheaper or hard to say when it goes live. 

If I have IOU or if I have the FLR coins when it’s live then I can get DAOflare as an airdrop right even if I owned XRP after dec 12? Thanks! 
 

I know I’m not eligible for the airdrop for Spark but wondering if I will be eligible for DAOflare if I buy the coins. I just don’t wanna miss out on fee stuff going forward I guess. Thanks again! 

Yes, as long as you buy spark (FLR) before the snapshot 30 days after the Flare Network launches, you'll be eligible for the DoaFlare (DFLR) airdrop. I believe you will turn have to convert your DFLR into YieldFlare (YFLR), which is the basic yield-bearing token of Flare Finance. It's all very confusing.

I think Bitrue and Poloniex have FLR IOUs right now. I don't know if there are others. And I think they work differently on those two exchanges, so do your research. I don't know if it's better to buy the IOUs now or wait. My gut says wait, the price will rise with excitement at first and then crash as a lot of people who got free coins will just want to sell for the profits. But I'm very inexperienced with new coins, I'm sure there are other guys who can help.

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