Back to the list

In Just 6 Days, 5400+ Accounts, 295 Million XRP Set Up To Claim Spark Token


newslogical.com 29 August 2020 07:30, UTC
Reading time: ~3 m

The Flare Network just went live for public use not too long, and the payment project has gotten a remarkable response from the XRP community, as holders of XRP rushed in multitude to claim their Spark reward on the platform, the Ripple-backed blockchain platform clarifies.

Following the launch of Flare, XRP holders who join the platform were promise spark token airdrop on a date yet to be announced, however, Spark has said it was surprised by the amazing interest in its project over the past few days as over 295 million XRP and 5400+ accounts have been set up to claim their spark token as of Friday, August 28.

Thanks to the effort of the founder of XRP Labs, Wietse Wind, XRP holders have been able to set up their account for the reward easily. Wind built a tool for XRPToolkit and XUMM for this purpose, allowing self-custodied XRP holders that wallets like Ledger hardware or XUMM application to easily set up their XRPL accounts to qualify for the Spark tokens reward. Thus, Flare handed Wind credence for the remarkable effort.

Also, the effort of developers Patrik Sletmo and Markus Alvila at Towo Labs was appreciated for developing XRP Toolkit and an updated version of the Ledger wallet firmware that makes it possible for self-custodied XRPL users to also prepare for the airdrop.

Flare Network said there are a total of 45 billion spark tokens to be claimed.

Remember that Flare used an Ethereum Virtual Machine for smart contracts, hence its addresses are in form of Ethereum addresses that make use of similar key derivation scheme, however, it is not built on the Ethereum blockchain network.

According to the CEO of the project in a release, Ripple Labs and some of its erstwhile employees are exempted from the Spark token airdrop.

On Ripple’s Newly Launched PayID

Ripple is bringing in diverse ideas into the payment industry. The firm recently launched PayID to create a simple and easy to remember payment identification that serves as a bank account. The idea was proudly supported by diverse financial institutions and not-for-profit organizations across the world totaling 40.

After the launch, Ripple also launched PayID Hackathon, and 360 developers from across the world registered for the $25,000 hackathon.

During the process, more than 40 projects were submitted and the top 10 finalists were announced. 7 honorable mentions evolved during the final stage and they received $500 in XRP each. The 3rd place, Unisend won $2,500 in XRP, and the 2nd place, 0Games won $5,000 in XRP.

The first place was PayID Validator. The project received $15,000 in XRP. The outstanding project is designed to perform checks to validate PayID response headers.

Back to the list