What is Spark Token?
XRP labs founder officially makes announcement about airdrop of Spark Token. XRPL account holder will receive spark token, which is users need to be claimed on their wallet. However more nearly 300 million XRP HODL in XRPL accounts. Spark token is nothing but native token of Flare Network i.e. fork version of XRP Blockchain. Flare network introduced to integrate with EVM i.e. Ethereum Virtual Machine that enable execution of smart contract-based transaction.
XRP Labs members and XRP investor or supported will receive Spark token in 1:1 Ratio. XRP labs developing new tool for self-custodial XRP holder for their Ledger Wallet user. However, 45 billion tokens will be allotted to holding in self custody and store in exchange i.e. non XRP Labs holders. As per report more than 5000 accounts signed up for claiming spark token in just 1 week of announcement. Non-custodial XRPL accounts expected to receive Spark token after launching of Flare network. However, user need users to need to create wallet before snapshot.
Once snapshot is taken then user will have 6 months to claim Spark token and if not then that token will be burned. Flare Network will be behind this project and XRP labs already launched tool i.e. XUMM and XRPToolkit for allowing user to claim token. Flare is said to be first ever turning complete FBA Network focus on scalability and low-cost transactions.
Spark Token Price Prediction
Official website claims that there is no fixed value for spark token as of now XRP owner will receive token. Biture already backing this project and expected more trading platform joining soon for trading of Spark token. User after receiving token in wallet started searching for what is expected price of Spark Token. It may be worth less than XRP, but we can’t predict until launching of Flare network.
Spark Token Overview
|Project name||Flare Network|
|Ticker Symbol||Spark Token|
|Based on||XRP Blockchain|
|Wallet||Ledger Wallet, XRP Wallet.|
Flare foundation expected to have 2-way bridge between Ethereum and Flare. The network wanted combine XRP, Ethereum and Avalanche to gained their best features. in simple words XRP will use for fast settlement, Ethereum for Smart contract and Avalanche for consensus algorithm. In future XRP’s utility allow empower creation of smart contract for adopting new feature like lending and Decentralized Finance DeFi. Flare network will enable interoperability of XRP Blockchain using Ethereum Blockchain. so, basically Spark Token will get huge response from investor and specially XRP investor. More than 5000+ user already created non-custodial wallet and more yet to come and with 45 billion supply more user will join in future.