South Korean cryptocurrency exchange Foblgate is joining the list of platforms supporting Flare’s upcoming fork of XRP.
According to a tweet published November 16 by Flare Network, Foblgate has announced support for the spark airdrop, which will distribute the native utility token for Flare Networks.
An accompanying update by Foblgate links to Flare’s white paper and says further announcements will be made regarding the scheduling of the airdrop and subsequent token distribution.
Flare’s launch, which will be distributed as a fork to XRP holders, is scheduled for the 194th anniversary of American inventor Martha Coston’s birthday on December 12. The network will take a “snapshot” of the XRPL Ledger in order to lock in the distribution of spark tokens.
Flare intends to generate 100 billion spark in the initial token launch, with 45 billion coins being committed to existing XRP holders.
The project’s official site calls spark a “utility fork of XRP” and says the token wills serve to increase of the function of XRP and the XRPL Ledger protocol rather than operating as a competitor.
XRP holders can claim their spark tokens by setting the message key of their XRPL address to the Flare address or by storing their coins on a supported exchange, which will handle the airdrop automatically.
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