The Spark token is a utility fork of the XRP.
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The Coinbase Exchange has announced that it will participate in the next airdrop of the Flare Networks Spark token.
Spark airdrop on Coinbase
The owners of XRP will receive the Spark token at the beginning of 2021 in a ratio of 1:1, which means that 100 billion Spark tokens will be created. The XRP sales snapshot will take place on Saturday, December 12 at 13:00 UTC. Beneficiaries will retain ownership of their XRP assets while receiving the new tokens.
Other exchanges have already announced that they will support the aidrop namely Binance, Bitstamp, Bithumb and Crypto.com.
Flare Networks also wants to join other renowned exchanges such as Bitfinex and Kraken. Ripple’s main partner in Japan, SBI, is also investigating whether or not to support the distribution of Spark tokens.
Spark is the native token of the Flare Network, a system designed to bring Ethereum-like functionality to the XRP Ledger.
The Flare Networks will integrate the Ethereum virtual machine so that smart contracts can be executed on the Ethereum blockchain using the XRP.
Ripple CEO Brad Garlinghouse said that Flare will offer users the best of both worlds:
„In my view, Flare combines the best of XRP (VERY fast settlement), Ethereum (smart contracts) and Avalanche (for consensus), extending the usefulness of XRP and creating smart contracts for new use cases such as lending and decentralised finance (DeFi)“.