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Coinbase will support Flare Network’s upcoming Spark airdrop. The largest crypto exchange in the U.S holds about 3 billion XRP on the exchange.
“If you are an eligible customer holding an XRP balance on Coinbase or Coinbase Pro on the snapshot date and time of December 12, 2020, 00:00 AM UTC, you’ll receive Spark tokens from Coinbase at a later date after the Flare network launch. The amount of Spark you’ll receive depends on how much XRP you had in your account at the snapshot time.” the company’s blog said.
Flare Networks is a project from Ripple’s investment division Xpring, tasked with introducing smart contract functionality on the XRPL distributed ledger. It is known that Spark will be used for network administration and other purposes. To operate a smart contract, it is necessary to issue FXRP (same value as XRP) – and this token is issued through Spark as collateral.
Some of the biggest exchanges that confirmed the XRP airdrop support:
- Bitcoin Suisse
- BTC markets
- BTC Turk
Flare supporting exchange list: https://flare.xyz/supporting-exchanges/