Flare Posts XRP Utility Fork Update, Warns Some Must Move Their Crypto to Receive Airdrop

Smart contract startup Flare says some XRP investors will need to take action to ensure they receive their fair share of the upcoming Spark token airdrop.

Flare is expanding the use case of the fourth-largest cryptocurrency by allowing users to run smart contracts on XRP.

The ecosystem’s new asset Spark is a governance token that will also be used as collateral to redeem assets in Flare’s ecosystem.

According to the Ripple partner, crypto investors who register their XRP in an eligible account will receive free Spark tokens in a 1:1 ratio when the blockchain company holds the “snapshot” day on December 12th.

But in order to ensure they receive their fair share, Flare says potential recipients who hold their cryptocurrency on exchanges will have to make sure their exchange supports the airdrop.

“If you would like to claim Spark FLR and your XRP is at a non supporting exchange you MUST move it to self custody or a supporting exchange BEFORE (preferably well before) 12/12/20…

If you move it to self custody, then you have until 11th June 2021 to claim.”

To date, Flare says 42 crypto exchanges and custody platforms are supporting the airdrop. You can check out a full list of the supporting platforms here.

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Flare Posts XRP Utility Fork Update Warns Some Must Move - Flare Posts XRP Utility Fork Update, Warns Some Must Move Their Crypto to Receive AirdropDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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