This announcement only covers how the airdrop will be handled on Kraken’s spot exchange ( ). The plan is to distribute a random percentage between 2% and 4% each month.įor more details on the Flare launch and FLR distribution plan, please see the Flare blog. The remaining FLR is expected to be distributed over the next 25 – 34 months.
The launch of the Flare network and start of the gradual distribution of FLR tokens is not expected until around May of 2021.Īfter the network launch, Kraken accounts that had an XRP balance at the time of the snapshot described above are expected to receive 15% of the total FLR for which they are eligible. What is the expected schedule for the launch of the Flare network and the gradual distribution of FLR? Reminder: XRP deposits to Kraken require a destination tag (the destination tag is generated when you create an XRP deposit address in your account). We recommend that clients deposit their XRP at least one hour before the snapshot to allow plenty of time for the deposit to credit (no later than 11 pm UTC on December 11). When should I deposit my XRP on Kraken to be included in the snapshot? The exact proportion is a bit complicated – see here for an explanation.Ĭlients do not need to do anything beyond having an XRP balance on Kraken at the time of the snapshot – Kraken will handle all other details.
The snapshot of XRP balances takes place on Decemat approximately 12 am UTC (the first validated XRP ledger with a timestamp greater than or equal to 00:00 UTC on December 12 2020).Īnyone with an XRP balance on Kraken at this time will, once the distribution of FLR is complete, receive an amount of FLR proportional to their XRP balance. The first thing to understand about this airdrop is that it is unusual because there is a very large gap of time between the snapshot of XRP balances and the launch of the Flare network and gradual distribution of Spark (FLR) tokens.ĭue to the unusual nature of this airdrop, we urge all XRP holders and traders to read this announcement carefully and learn what to expect. Kraken is pleased to announce our support of the Flare network and Spark (FLR) token airdrop for XRP holders.
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