Flare Networks celebrates the start of trading its Spark token on Bitrue. In a post, the platform confirmed that the token is available starting today, January 6.
As CNF reports, we are taking a snapshot of the addresses of all XRP holders on December 12, 2020. This will determine those eligible for the airdrop of the Spark token. Thus, fifteen percent of all FLR tokens will be distributed to all eligible hodlers during the first or second quarter of the year.
However, Bitrue has already allowed its users to exchange FLR tokens for the XRP / FLR pair today via an informal means. After Flare Networks announced what the XRP: FLR payout rate looked like a few days ago. Bitrue can calculate the exact amount of FLR its users would receive.
Thanks to this, Bitrue could now start trading the IOU. However, Bitrue also clarified that “real” trading of FLR will only be possible after the official distribution of the token.
In the XRP community, the news is considered very bullish. CryptoEri said via Twitter that Bitrue’s IOUs are a “sample” of future bullish sentiment for the trading pair. It is expected that trading on the platform will continue to increase and the distribution of FLR will be beneficial for holders of XRP.
The FLR / XRP trading pair registers a trading volume of 3,520,251.62, FLR with an initial rate of around 0.10. Which drops to 0.58 at the time of publication. This represents an increase of 494.3%. At its highest trading point, the pair was at 1.50.
Flare Networks Attends Africa Summit
On the other hand, the XRP and Spark community can celebrate the invitation of Mohamed Taysir, to the Africa Digital Finance Summit. The Flare Networks representative will participate in a discussion on Africa’s future in the growing digital finance industry.
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Read more:XRP’s Spark Utility Fork (FLR) starts trading on Bitrue