Crypto Exchange Uphold to Support Spark Token Airdrop for XRP Holders

Popular cryptocurrency exchange Uphold has announced it will support the Spark token airdrop for XRP holders “after fervent public commentary.”

According to the exchange, those who hold XRP on the exchange on December 12, 2020 – the date of the network’s snapshot for the token distribution – will receive Spark tokens on a 1:! Bases according to the amount of XRP they hold.

The airdrop will see Ripple partner Flare distribute a total of 45 billion Spark tokens to XRP holders, with the exception of Ripple itself and some of the startup’s former employees. Shortly after the airdrop was announced, over 5,000 XRP holders set up XRPL accounts, which will be used to claim their airdropped tokens.

The tokens are set to be distributed to XRP investors who self custody, and to those who have their funds on a cryptocurrency exchange or wallet supporting the airdrop. While most major exchanges have not yet made announcements on it, Uphold has announced support.

According to Flare, demand for the Spark token airdrop from the XRP community appears to be considerable. A FAQ page reads:

We’ve been amazed at the amount of interest in Flare over the past few days! Since announcing the process for preparing your XRPL account to receive Spark on Friday, there has been over 295 million XRP contained in XRPL accounts that have set their accounts to receive the Spark token.

So far, other exchanges supporting the airdrop are AnchorUSD and Bitrue. Flare, it’s worth noting, uses smart contracts from Ethereum, and as such Flare addresses are “Ethereum style addresses that use the same key derivation scheme.” These aren’t, however, on the Ethereum blockchain.

Featured image via Pixabay.