By Tobi Loba
XRP holders who will receive Spark tokens once the Flare Network is officially launched will be eligible to claim DAOFlare (DFLR) in the second airdrop.
Airdrop for XRP and Spark (FLR) Holders
The smart contracts provider, Flare Network, conducted the snapshot of XRP Ledger on 12th December 2020. Although the Spark (FLR) tokens have not been distributed due to the fact that Flare blockchain is not yet launched officially, the potential Spark (FLR) holders are also primed to receive DAOFlare (DFLR) in the second airdrop.
Read Also: 8.5M XRP Lost to Giveaway Scams and Fake Airdrops
Flare Finance, a DeFi project building on the Flare Network, made the official announcement of its plan to distribute DFLR to the holders of FLR.
According to the report, a month after the Flare Network goes live, probably at the end of the first quarter of 2021, the Flare Finance team will take a snapshot of Spark wallets.
DAOFlare (DFLR) will be distributed in a 1:1 ratio to Spark (FLR) tokens held on supported exchanges and private wallets.
Yes, 2 airdrops.
The first is the $XRP airdrop where you will receive $FLR.
Flare Finance is airdropping $dFLR to holders of $FLR
— Flare Community🌐 (@CommunityFlare) January 20, 2021
DAOFlare (DFLR) Remains Worthless Until Swapped For YieldFlare (YFLR)
Another point that is worthy of note is that DAOFlare (DFLR) tokens will remain worthless until they are exchanged for another token known as YieldFlare (YFLR), the native token of Flare Finance.
The reason why the token swap is required is to ensure that only active participants receive the tokens.
Read Also: Wietse Wind Warns: While Claiming your Spark Tokens, Do Not Fall for this XRP Scam
Flare Finance assured a prompt update regarding the final details of the DAOFlare (DFLR) airdrop and the swap to YieldFlare (YFLR) that will follow.
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