On December 12, 2020, the Flare Network is planning to launch its token - SPARK. During this process, 45 billion SPARK tokens will be distributed to XRP Ledger wallets.
On the 12th of December at 00:00 GMT, a snapshot will be taken of all XRP Ledger addresses using a specific ledger index number. YouHodler will follow all these rules in accordance with the Flare network. We will take care of the entire claim process and distribution for you. For more details, you can visit the Flare FAQ.
How to benefit from the SPARK airdrop
The more XRP tokens the wallet contains, the more of the 45 billion SPARK airdrop it will claim. So, if one wants to get as much SPARK as it is possible, there are a few neat tricks that could be done.
Classic Crypto-Backed loan
The funds, locked in the collateral will also participate in the snapshot. So it could be a great idea to get the classic loan.
Using the borrowed funds one can even buy more XRP. This way both XRP collateral and additionally bought XRP will be a part of the SPARK claim process.
- With 100,000 XRP as collateral, one can borrow up to 90% of its value;
- Buy more XRP (roughly +90% of the initial 100,000 XRP locked in the 1st crypto-loan)
At this point that will mean that the account will have approx 190,000 XRP. 100,000 locked as collateral + 90,000 XRP bought with the borrowed funds.
90,000 XRP bought with the borrowed funds could be used to get the second loan. And with the borrowed funds one can buy even more XRP.
In that case, in the airdrop, the following amount will be counted - 190,000 XRP locked as collateral in two loans + approx 80,000 XRP bought with the borrowed funds = 270 000 XRP.
The process is repeated as much as the user wants, thus enlarging the XRP amount drastically as well as the amount of the SPARK that will be airdropped after December 12, 2020
Turbocharge is a great way to enlarge the amount of your crypto with the automated crypto-loan chain. Here you can learn more about this product https://help.youhodler.com/en/collections/2400382-turbocharge
Please, be advised that for the active Turbocharge loans only the initial XRP that you own and lock as initial collateral will be counted during the airdrop
With our incredible product, you can benefit from the price change using the chain of loans.
Here you can learn more about this product https://help.youhodler.com/en/collections/2072395-multi-hodl
Please, be advised that for the active MultiHodl’s only the initial XRP that you own and lock as initial input will be counted during the airdrop