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HomeCryptocurrencyKraken Exchange Releases Update On Spark (FLR) Airdrop to Eligible XRP Holders

Kraken Exchange Releases Update On Spark (FLR) Airdrop to Eligible XRP Holders

The long-awaited Spark (FLR) airdrop distribution to eligible XRP holders is around the corner, as more crypto exchanges show preparedness and support. However, the Flare team is yet to confirm the date for the airdrop distribution event after the last postponement. 

A recent update showed that Kraken, a popular cryptocurrency exchange based in the United States, is now among the top exchanges that are set to execute the Flare token airdrop. 

According to Kraken, funding is now available on the exchange in preparation for the FLR distribution event. The update added that two trading pairs will be introduced for the FLR token on the Kraken digital assets marketplace, including FLR/USD and FLR/EUR. Customers will then be able to trade FLR/USD, and FLR/EUR. It is also said that the staking of FLR tokens will be activated on the U.S-based exchange subsequently.  

“Update on the Flare Networks FLR distribution! Funding is now enabled. Here’s what to expect next: Airdrop distribution to take place soon. Staking and Trading will be available,” the announcement read. 

In response to Kraken’s update on the FLR airdrop, Hugo Philion, the CEO and co-founder of Flare Networks hailed the exchange for supporting FLR, adding that enabling FLR staking is epic. In his words, “I cannot thank the team Kraken exchange enough for their support of Flare. Enabling staking (FTSO delegation) is massive.”

Read Also: Flare Surpasses Decentralization Threshold, Next Is Distribution Event for XRP Holders: Details

FLR Airdrop To Be Distributed Soon

The airdrop which was first announced by the Flare Network team in December 2020 has undergone multiple shifts, given the unpreparedness on the part of crypto exchanges. 

But in September, the Flare team released the FLR token distribution event schedule, stating that the airdrop would play out between October 24 and November 6, 2022. Given that only a few exchanges showed readiness then, it was again shifted till further notice. 

Latest developments in the Flare Networks ecosystem like Flare passing into Beta Mode and also surpassing the decentralization threshold signals that the FLR airdrop to qualified XRP holders would take place soon. Likewise, more exchanges including Crypto.com have announced support for the FLR airdrop. 

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Read Also: Coinbase Fails to Distribute Songbird Tokens (SGB) To XRP Holders, Community Launches Petition

It’s worth noting that those who are eligible for the Spark (FLR) airdrop are the XRP holders that took part in the December 12, 2022 snapshot of balances on XRP Ledger (XRPL).


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering. ([email protected])
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