Tag: FLARE NETWORK

Flare to Airdrop Canary Network Token to XRP Holders

by Cryptobriefing

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XRP holders who participated in the Spark airdrop snapshot in December will receive a second airdrop, Flare Networks announced today.

Flare Plans New Airdrop For XRP Holders

Flare Networks has announced a new airdrop as it plans to launch a Canary Network called Songbird.

In an announcement, the team said it would airdrop Songbird’s native token SGB in the next six weeks.

Flare aims to bring Ethereum-based smart contracts to various non-EVM compatible networks like the XRP Ledger.


While the project is scheduled to go live in September 2021, the team is now planning to launch Songbird for security testing and experimentation, CEO and founder Hugo Phillon confirmed in a blog post.

Phillon described Songbird as an adversarial environment for live testing and bug discovery over the long term.

According to the team, Songbird will be critical in testing the network’s architecture along with core systems that include Time Series Oracle, the StateConnector, and F-Asset system.

Hugo further added that applications planned on Flare will be tested first on Songbird in an attempt to find and exploit bugs.

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In December 2020, Flare Network announced its network token Spark would be airdropped to all XRP holders. The same XRP holders who participated in the snapshot will now receive SGB.

For every 1 XRP at the time of the snapshot, 0.1511 SGB tokens will be allocated.

Flare was incubated by Ripple’s startup accelerator program Xpring in November 2019. Besides XRP, it will support three other crypto assets: XLM, LTC, and DOGE.

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Flare Airdrop Snapshot Ushers in Ripple’s DeFi Era

By connecting with Ripple, Flare will introduce XRP to the DeFi ecosystem built on Ethereum. XRP token holders will be airdropped native Flare tokens, called Spark, to initiate activity. Ripple’s…

Flare Brings Ethereum Compatibility to Stellar 

Flare Networks has announced that it will integrate Stellar Lumens (XLM) with its smart contract platform, thereby offering compatibility with the Ethereum blockchain. Flare will be integrating $XLM as an…

How to Trade Using the Inverse Head and Shoulders Pattern

In stock or cryptocurrency trading, you may have heard of the term “inverse head and shoulders.” Also known as the “head and shoulders bottom” formation, the inverse head and shoulders chart pattern can…

Flare Networks to Airdrop 46 Billion Tokens to XRP Holders

Flare Networks has announced the number of Spark (FLR) tokens that it will be issuing to eligible XRP holders. Users that held XRP on exchanges such as Coinbase, Kraken, Binance,…



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Flare Brings Ethereum-Based Smart Contracts To Stellar

by Cryptobriefing

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Ahead of The Ripple (XRP) SEC Court Date, Flare Network Declares its Support

by Blockchain News

Ahead of the scheduled court duel between blockchain payment firm Ripple Labs Inc and the United States Securities and Exchange Commission (SEC) this February, the Flare Network has thrown its weight behind Ripple and the associated XRP cryptocurrency.

Ahead of The Ripple (XRP) SEC Court Date, Flare Network Declares its Support

The Flare Network recently conducted an airdrop for its yet to be launched Spark (FLR) Tokens has also noted that it is not associated with Ripple and that it believes XRP is a cryptocurrency.

Per the update given by the Flare Network:

“We are not associated with Ripple. We wanted to speak to their Attorney to inform them we were damaged by the SEC and that it’s our opinion that XRP is a currency. We weren’t paid or incentivized by Ripple to come into this space to build. We believe 100 percent XRP is currency!”

As a fork of XRP, this clarification on its supposed association with Ripple and XRP is pertinent owing to the fact that the Flare Network conducted its FLR token airdrop by using the XRP balances on exchanges as a benchmark to distribute the token. Without clarity on the possible twist, the lawsuit will take when both Ripple and the SEC goes to court, the dissociation may possibly serve Flare Network as its tokens may also get classified as a security, the same way XRP is being classified by the SEC.

Wavering Support For XRP

The support for the XRP cryptocurrency in its claim as a digital currency and not a security has met with series of wavering commitments from both investors and traders alike. This is most reflective in the past pump and dump scheme that XRP experienced in which traders on a Telegram group bought the coin, pushing its price close to $1 dollar before initiating an encompassing sell-offs.

Amidst the legal uncertainties that are brewing over XRP, the cryptocurrency will do better with a more defined show of support ahead of the court sitting on February 22.

Image source: Shutterstock

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Flare Finance Redefining DeFi Ecosystem with Smart Contracts for XRP and LTC

by Btcmanager

Flare Network is creating a new benchmark in the cryptocurrency industry with its state-of-the-art solutions.  Upon its launch around the second quarter of 2021, Flare network would provide integration for Litecoin, XRP, and Dogecoin which would allow the tokens to operate trustlessly on the network with smart contracts. Harnessing the revolutionary Flare Networks is Flare Finance which will bring smart contracts on XRP, LTC, and Dogecoin enabling utility and ownership to the users within the decentralized finance ecosystem. 

Flare Finance is an entirely separate entity and does not come under Flare Network or Ripple Inc. It is an independent protocol operating on the Flare Network enhancing the capabilities of the XRP and LTC tokens within the Flare ecosystem. The highly sophisticated and robust system leverages the immense capabilities of the decentralized finance ecosystem through its financial products.

The products are designed by highly efficient and dexterous experts who understand the intricacies of the financial and blockchain space. Through these products, the XRP, LTC, and FLR token holders would be able to leverage their holdings without any third-party intermediary. Flare Networks boasts of immensely robust smart contracts, which Flare Finance utilizes to offer profitable spot trading and P2P margin trading with non-custodial liquidity pools and decentralized insurance coverages.

The protocol captures the power of Flare Network and accentuates it to deliver higher benefits to the customers. Through the use of smart contracts developed on the Flare Network, Flare finance is building a highly capable trustless financial ecosystem that uses XRP, LTC, and Dogecoin.


Products

With its suite of highly intuitive, market-leading, and futuristic products, the Flare Finance team is striving to offer a comprehensive and all-round banking utility to its customers. 

  •         FlareX is a fast, intuitive, and efficient spot and margin trading platform that deciphers trading intricacies and allows traders to benefit in a hassle-free manner.

  •         Flare Farm is another robust yield farming and governance platform where the yield farmers can benefit.

  •         Flare Loans allows the users to attain collateralized loans in the decentralized finance space in a secure way.

  •         Flare Mutual can be utilized by the customers to invest in risk-based mutual funds to benefit from their assets.

  •         Flare USD is a solution that offers the distribution of stable coins pegged on the US dollar.

Tokens

      FLR and Trustless XRP tokens would be utilized in the Flare Finance products, while their native tokens would be used within the protocol for rewards and fees.

  •         YieldFlare: Native token for staking and trade. The token would be used on the FlareX platform for an exchange fee and used for trading and during token swaps.

  •         YFIN: It is a low supply token for Yield farming and governance and can be mined using the YieldFlare token and other cryptos. It also acts as a governed token within the Flare Finance system.

Reward Program

The Flare Finance team is continually striving to ensure that its products are a class apart and offer maximum utility and efficiency to the users. While the adept development and testing team leaves no stone unturned in fine tuning the finalized products, it intends to go an extra mile in ensuring quality. Thus, Flare Finance launched a reward program which sought applications from volunteers to test its various decentralized finance products. At least 200 users are required to participate in the reward program.

Summing Up

The Flare Finance Protocol would launch on the Flare network and provide the most agile and resourceful decentralized platform to the LTC, XRP, Dogecoin, and FLARE token holders. Flare Finance would ensure maximum utility to the token holders and developers with its efficiently designed framework and transparent system. The integration of XRP and LTC would bestow more efficiency to the LTC and XRP tokens by increasing composability and making them more interoperable. You can follow Flare Finance on social media for regular updates. 


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XRP and FLR Token Holders Primed for Yet Another Airdrop

by Cryptobriefing

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

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Ripple Network Activity Shows XRP Has Lost Its Spark Post-Airdrop

by NEWSBTC
Because investors had been scrambling to buy XRP in order to lay claim to a corresponding amount of Spark tokens, the altcoin had its most significant bullish breakout in years. Ripple network activity post-Flare airdrop suggests that the asset has fundamentally lost its spark, but technicals might on the flipside suggest that the spark was […]

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PSA: Few Days Remain For XRP Holders To Claim Spark Tokens, Here’s How

by NEWSBTC
XRP has a major bullish breakout recently, resulting in an over 200% rally. And while bullish technicals had been building, it was the Flare airdrop and promise of free Spark tokens that helped propel Ripple to current levels. The Flare airdrop “snapshot” of the XRP ledger takes place at the end of this week, leaving […]

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OKEx Announces Support for Spark (FLR) Airdrop as XRP Holders Prepare for Token Distribution

by Blockchain News

OKEx has joined other digital asset exchanges in announcing support for the upcoming Spark (FLR) token airdrop.

Businessmen anticipating crypto giveaway

Along with other crypto exchanges, OKEx will enable XRP holders leveraging their services to benefit from the Spark Airdrop Program. It is the latest trading platform to have joined, as a growing number of leading exchanges such as Binance, Bithumb, Bitstamp, Poloniex, KuCoin, and more have said that the cryptocurrency distribution would be made available to their XRP holders. Per OKEx’s official Twitter announcement:

“$XRP Deposits and Withdrawals will be suspended from 12:00 pm UTC Dec 11; Snapshot of users’ $XRP tokens at 12:00am UTC Dec 12. After the snapshot, Deposits and Withdrawals will resume.”

How will Spark Airdrop Program work?

December 12 is announced as the official date where Spark will be airdropped, but it will actually be the first step in Flare Networks’ initiative to distribute FLR tokens to XRP holders. On December 12, at 12:00 am UTC, a “snapshot” of XRP holders’ total amount of XRP will be taken by Flare Networks. Traders and investors who hold Ripple’s native digital currency will be able to receive Spark tokens for free on a 1:1 ratio.

The total amount of tokens to be distributed under the Spark Airdrop Program will be approximately 45 billion, made available to all XRP holders except for Ripple Labs. The upcoming release of tokens is said to have triggered an upward price movement for XRP.

Flare Networks, the Ripple-backed smart contract utility fork, will then take into account XRP held on participating wallets and crypto exchanges. An actual distribution day for their native tokens is not known, although it is anticipated for some time between March and May 2021.

It is also recommended that all XRP deposits be locked into the compatible exchanges and wallets before December 11, as most crypto exchanges will temporarily pause withdrawal and deposits of XRP on their platforms.

The easiest way to benefit from the airdrop is to deposit XRP into a crypto exchange that supports the snapshot. Another way to gain free Spark tokens is to hold XRP in compatible digital wallets, although there may be additional steps for users to take before being able to claim their free tokens. Users also have the choice to file a self-custody claim of XRP, although this may not be the easiest way of participating in the token distribution.

Many exchanges have announced their support for the upcoming airdrop. However, Binance.US and Coinbase XRP holders will not be able to benefit from it. A crypto enthusiast retweeted by Flare Networks said:

“At this point in time, pretty much every major exchange minus @coinbase is supporting the @FlareNetworks airdrop.”

Coinbase had previously omitted to confirm their participation in the Spark token distribution and was called out by Flare Networks, as the US-based crypto exchange held about 3 billion XRP on their platform.

Currently, XRP token tracker announced via Twitter that funds for XRP were increasingly being deposited into exchanges supporting the Spark airdrop. Per the Tweet:

“We’ve noticed a lot of $XRP action on the exchanges that will be supporting the airdrop including: @binance, @bitfinex, @Bitstamp and more.” 

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Kraken Newly Announces to XRP Holders Its Support for Spark Tokens’ Upcoming Airdrop, XRP Climbs Higher

by Blockchain News

After Kraken signaled that it was not planning on supporting the upcoming Spark tokens’ airdrop yesterday, the cryptocurrency exchange appears to have changed its mind.

Concept of cryptocurrencies being airdropped from parachute

A message released on the US-based crypto exchange’s official account stated that the cryptocurrency will finally be partaking in Flare Networks’ airdrop of Spark tokens. Flare Networks, the Ripple-funded smart contract utility fork had announced that on December 12, more than 45 billion Spark (FLR) tokens will be made exchangeable with XRP on a 1:1 ratio.

Currently, per Kraken’s announcement on its official Twitter platform:

“#XRP holders: Here’s something to put a SPARK in your day – Kraken plans to support the Spark $FLR Airdrop Program. Stay tuned!”

The airdrop is a promotion of the new consensus protocol Flare, which will enable advanced smart contracts to run on the XRP Ledger, the blockchain backbone Ripple’s native token XRP. Flare will also leverage Ethereum Virtual Machine (EVM) on its network, a blockchain-powered software that enables developers to create decentralized applications (Dapps).

With the upcoming Flare token airdrop, Ripple’s XRP price has skyrocketed, even hitting a two-year high earlier in November. In just a month’s time, Ripple had managed to increase by more than 130%.

Ripple has managed to outperform bigger cryptocurrencies by market capitalization, such as Bitcoin (BTC) and Ethereum (ETH), and industry experts have speculated that Spark token’s upcoming launch has in part influenced XRP’s price movement.

Additionally, according to data from blockchain metrics XRPScan, the number of newly registered accounts have spiked on the XRP Ledger within a two-day span. Newly activated accounts went from 1,300 to over 8,000 in anticipation of Flare Network’s airdrop.

Many cryptocurrency exchanges will benefit from the Spark cryptocurrency distribution, but Coinbase as well as Binance.US figure among those that will not. In total, Spark tokens’ maximum supply will be 100 billion, with 45 billion that will be provided for distribution to XRP holders.

Flare Networks’ upcoming launch sends Ripple’s XRP soaring

Currently, Ripple’s XRP token is up 6.39% in the last 24 hours, with market bulls expecting the bridge currency to continue its bullish upward momentum.

It appears that market sentiment surrounding Ripple has been more positive now than ever, as blockchain analytics have reported that the social volume of XRP may soon outrank that of Ethereum. Former Goldman Sachs investor Raoul Pal even tweeted his approval of XRP, saying that he was warming up to it.

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