Instructions to receive XRP Airdrop

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The article will guide you in detail how to receive Spark token (FLR) airdrop for XRP Token holders.

As you may remember , XRP has returned to strong growth recently, good news for the Hodler brothers when Flare Network conducted an airdrop of Spark token distribution to XRP holders. Today I summarize the information and guide you how to do it.

Introducing Flare 

Flare Networks is a Ripple-backed startup. This is a new blockchain network based on Flare Pure Copper Protocol - the first fully federated Byzantine agreement protocol. Flare's native token Spark (FLR) is a stablecoin that aims to keep the cost of network usage predictable and provide input for DeFi use cases .

Information about Spark token (FLR)

Flare has generated 100 billion Spark tokens from the very first day of network launch and 45 billion will be airdropped to XRP holders in a 1:1 ratio. They will be distributed according to the formula below:

In there:

• Spark Claimable: the amount of Spark that a user can claim according to the XRP hodl address.
• XRP owned: Owner of XRP at the time of snapshot.
• XRP total: Total XRP - the total amount of XRP in existence on the snapshot date.
• XRP Ripple: XRP held in Ripple-related accounts at the time of snapshot including escrow balance.
• XRP NPE: XRP held by exchanges that were not involved on the snapshot date.

Snapshot time (take pictures of balance): 07:00 AM on 12/12/2020 (Vietnam time).

At the official Flare launch (expected Q1 - Q2 2021), each account that has claimed Spark will receive 15% of the total Spark they are eligible to receive. The remaining Spark will be distributed for a minimum period of 25 months and a maximum of 34 months.

In particular, the remaining % Spark to claim each month is followed by a random number generated by Flare Time Series Oracle (FTSO).

For example: After checking you are eligible to receive 1,000 Sparks, on the first batch, you will receive 15% of 150 Sparks. On each subsequent month if 4% is the number chosen by FTSO, you will receive (1,000 - 150) * 4% = 34 Spark. And if the FTSO is fixed at 4%, you will receive through 34 Spark within 25 months after the first batch.

There are many opinions that, hypothetically, Ripple Labs - one of the largest XRP holders will receive the majority of FLR tokens in this airdrop. However, Flare Network excluded Ripple Labs and certain employees from the airdrop, which would prevent FLR ownership from becoming centralized.

So how get Spark?

At the exchange

The easiest way to claim Spark tokens is to transfer XRP to an exchange that supports the airdrop - see a list of exchanges that support the airdrop here .

You can see instructions for trading XRP at exchanges in the article:

• Instructions to buy Ripple (XRP) with 3 simple steps
• Instructions to buy, sell and trade XRP on Remitano exchange
• Instructions on How to Buy and Sell XRP with VND on Aliniex

At personal account wallet

If you hold XRP in your personal wallet, the method of validating Spark tokens is simply setting the Message Key on the XRP ledger address to your Flare address. Note that everyone needs to do this within 6 months of the snapshot date.

If you keep XRP in a hardware wallet and it is difficult to manipulate, I think you should transfer XRP to Binance to make it easier.

Detailed instructions for personal wallets

Claim Spark by adding a message key to the XRP Ledger account. Adding a message key to your XRP account does not compromise security, the message key is for information only, and it is public on the XRP Ledger - which Flare Networks uses to determine where to distribute Spark tokens to you.

Please refer to the following steps:

Step 1: Wallet

Supported wallets include Metamask wallet and Ledger wallet. Please note that only using a personal wallet that you are sure to still hold the Private key, passphrase... absolutely do not use a floor wallet in this case.

Step 2: Copy the address

Once you have an Ethereum wallet, you open the wallet and copy the wallet address (again, your wallet keeps the secret key or recovery word, and if you are afraid, use a completely new wallet that does not contain any assets).

If you are using Ledger Nano X or Ledger Nano S, plug in your device, unlock it, open Ledger Live and install any pending updates. Then click on Receive, select your desired Ethereum account, click Continue and copy the address.

Regardless of which Ethereum wallet you use, copy the Ethereum address that you want to use later on the Flare Network. Your requested Spark tokens will be distributed to this address once Flare officially launches. From now on, we will treat your copied address as your Flare address.

Step 3: Install Message Key

After successfully copying your Flare wallet address, please open the XRP Toolkit and connect your XRP wallet. In the Account Menu, select Properties and paste (paste) the copied wallet address into the message key. The XRP Toolkit will offer to convert your Flare address to the format needed to store it as a message key on the XRP Ledger. Click on the suggested format, then click “update” to continue.

Another way is if you want to manually convert your address to the required message key format, start by removing the "0x" on the wallet address and convert the rest to all uppercase, ending Add "02000000000000000000000000" in front of the wallet address.

For example, Ethereum address is 0x2D19a76413370E7c4e5844e7B016F7fC77a716AB you remove “0x” and add prefix, we will have 20000000000000000000000002D19A76413370E7C4E5844E7B016F7FC77A716AB.

 

After clicking the Update button, you will be asked to review the transaction. Carefully review all the transaction details in the connected wallet and only confirm if the message key corresponds to your intended address. Once the transaction has been signed and sent, you are ready to receive Spark. 

You can check your Flare address by copying and pasting your XRP account address into XRPScan or Bithomp if you see a message key, it means it was successful.

Besides, you can refer to the instructions in the following original articles:

1. Claim Spark Tokens
2. Claiming Spark Faq

Other content:

- To exclude, to expel: 

• In addition to Ripple INC and the exchanges that did not participate, there are several groups that are completely excluded from the distribution. It was Jeb McCaleb's account, and several accounts allegedly received XRP through fraud, theft, and fraud.

- Limits for Whale:

• A maximum of 1 billion XRP will be defaulted to any individual Whale account. This means that if you have 2 billion XRP (or 10 billion or more), you are only allowed to Claim Spark at the rate of 1 billion XRP.
• This amount is called the Limit for Whale . So the rest of these accounts will be encouraged to put in the pool to mine FXRP.
• For example, you have 2 billion XRP, you only claim Spark equivalent to 1 billion XRP, the rest of Spark will be put into the Pool.
• For distribution purposes, any account that receives XRP from these Whale accounts between the time of this writing and 12/12/2020 will have this XRP deducted from the amount of XRP they can claim. Spark bridge. So whales don't move to multiple wallets hoping to get lots of Spark.