eToro in Discussions with Flare Networks

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eToro is proud to have a big neighborhood of XRP holders on our platform and eager to help the continued evolution of the Ripple ecosystem.

As such, eToro is at the moment in dialog with Ripple and Flare Networks concerning the upcoming distribution of Spark — the native token of the Flare blockchain.


Community snapshot

In a tweet yesterday, Ripple associate Flare introduced the date of a community snapshot when all XRP holdings shall be recorded to find out the distribution of the Spark token.

The snapshot will happen on December 12th, 2020 — the 194th birthday of the inventor of the maritime flare, Martha Coston. All XRP holders eager to obtain Spark tokens should guarantee their XRP is in supported wallets or exchanges on this date.

When the Flare community is launched, all XRP holders, barring Ripple Labs staff, shall be airdropped quite a few Spark tokens relative to their XRP holdings. The precise date of the airdrop is but to be decided.

A wise contract platform for XRP

Flare, an unbiased venture partly funded by Ripple Labs, guarantees to carry superior sensible contracts and better scalability to XRP. The venture may kind the crucial infrastructure wanted for XRP to affix the quickly rising DeFi ecosystem and doubtlessly assist create a brand new two-way bridge connecting XRP and ETH.

Flare’s significance was highlighted by Ripple CEO Brad Garlinghouse in a current deal with on the first-ever crypto city corridor session.

“From my viewpoint, Flare is combining the perfect of XRP (very quick settlement), Ethereum (sensible contracts), and Avalanche (for consensus) which helps prolong XRP’s utility and permits builders to create sensible contracts for brand new use instances like lending and DeFi.”

eToro will share extra particulars in the approaching weeks, and extra details about Flare will be discovered on the Flare Networks weblog.


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