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Flare Networks plans new airdrop for XRP Hodler

Ripple airdrop part 2: Flare Networks plans new airdrop for XRP Hodler

In the context of the SEC’s investigations, the Ripple price has come under heavy pressure in the past week. While XRP recorded a price high of over $0.70 in the context of the Bitcoin Bank planned Ripple airdrop by Flare Networks, the price of 1 XRP is currently trading at around $0.26, well below last year’s high.

A new Ripple airdrop, which is once again connected to Flare Networks, may therefore be a small consolation for all XRP holders. We will show which token it is in this article.

Ripple Airdrop Part 2: Flare Networks

As a reminder, in December last year, Ripple-backed startup Flare Networks conducted a snapshot to create an assessment basis for the upcoming Spark Token (FLR) airdrop.

Those in possession of XRP at the time of the snapshot will now receive 1.0073 Spark Tokens for each XRP. Put another way: The ratio for the airdrop is approximately 1:1.

In the first half of this year, more than 45 billion FLR, 45,827,728,412 to be exact, will thus be distributed among XRP holders. The aim of the new project and token is to transfer existing smart contract functions that we know from the Ethereum ecosystem, for example, to the XRP ledger (XRPL)

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Flare Finance plans DFLR token airdrop

After the previous airdrop, another token distribution is now already planned. Flare Finance is a concept that builds on the Flare Blockchain and aims to enable swaps, stablecoins, yield farming, yield mining, insurance and asset-backed loans.

In this context, the airdrop of the DAOFlare Token (DFLR) is planned. Specifically, all users who receive the Spark Token, i.e. owners of XRP, will also be entitled to receive the new token. The DFLR token, in turn, can then be exchanged for YieldFlare, the official token of Flare Finance.

This is what it says on Twitter:

One month after the mainnet launch of Flare Network, Flare Finance will conduct a snapshot for all FLR token holders. 7-10 days after the snapshot, you will be the proud owner of FLR and DFLR tokens. To interact with the Flare Finance ecosystem, you can swap your DFLR to YFLR tokens. Once you've swapped this, endless potential awaits.

The official launch is scheduled for the second quarter.