Ripple Chief Excited About Future of Flare Networks Amid Imminent XRP Airdrop

14 December 2020

in XRP

Reading Time: 2 mins read

Ripple CEO Brad Garlinghouse says he believes XRP investors have good reason to be excited about the launch of Flare’s smart contract system and the upcoming Spark token airdrop for owners of the third-largest cryptocurrency.

In a new interview with CNN, Garlinghouse says Flare’s push to bring smart contracts to the XRP Ledger shows the flexibility and utility of digital assets.

“This is a very exciting startup. They’re doing some very interesting stuff with something called the Spark token. But it is really distinct from what Ripple is doing. To me, it’s just a further example of people’s recognition that XRP is such an efficient digital asset and as you and I have talked about, utility will drive the long-term value of any digital asset.

Seeing a company like Flare Networks and seeing them use the XRP network in various ways is an opportunity to go forward, but it doesn’t affect RippleNet customers and how we are using ODL (On-Demand Liquidity) for our customers.”

As for what the coming airdrop will mean for XRP holders, Garlinghouse says investors are rightfully excited about the possibilities.

“I think XRP holders are deservedly excited about what Flare is doing. I’m excited about what Flare is doing. As we’ve said, any time you’re seeing real utility solving a real problem – and I think Flare has carved out an interesting niche and as they move forward with this airdrop of Spark tokens I’m optimistic for them.

I’ve met the management team there. I think they’re very talented and I think they have a clear vision of the problem they’re going to solve.”

Ripple is an investor in Flare Networks. Flare is set to airdrop Spark tokens at a 1:1 ration to XRP holders on December 12th.

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