XRP holders are really getting ready for the day the much-talked-about Spark tokens will be distributed to those that are eligible. Candidly, this preparation is in a big way, as the sum of XRP already set up to claim free Spark tokens in December 2020 is about to hit 1 billion.
980 Million XRP Set Up To Claim Spark Tokens
Based on a tweet shared by a cryptocurrency enthusiast identified on Twitter as Ronald, 17,077 XRP accounts have set up the sum of 980 million XRP to claim free Spark tokens.
Ronald tweeted, “What a great week for Flare Networks. GateHub, Uphold, Bitrue, AnchorUSD support SPARK. 980 Million XRP and 17.077 XRP accounts have already been set up to claim SPARK. 64 Million XRP holdings increased and 3757 new XRP accounts have been created.”
— Ronald (@ronaldonline777) September 5, 2020
According to the White Paper, Flare Network is designed to “trustlessly issue tokens from non-Turing complete networks, such as XRP, onto Flare so that they can be leveraged in Turing complete smart contracts.”
In a blog post, Flare noted as follows:
“If you self custody, the method of claiming the Spark token is simply to set the Message Key field on your XRP Ledger address to your Flare address. If your XRP is held at a supporting exchange, they will handle the claim process and distribution for you.
…If you self custody, your Spark tokens will be delivered by a set of smart contracts operating on the Flare network either at launch or as soon as the network registers your claim from reading the XRPL. If you hold your XRP at a supporting exchange, they will deliver the Spark tokens to your account at the exchange.”
Flare To Distribute Its Spark Tokens in December 2020
All XRP holders, except Ripple, are offered the opportunity to claim a spark token for each XRP they hold on 12th December.
Flare tweeted, “We named our testnet after Martha Coston who invented the maritime Flare. The snapshot of the XRP ledger for the Spark distribution will be taken on the 194th anniversary of her birthday – December 12th 2020.”
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