Bittrex will support the distribution of Flare Network’s native Spark (FLR) token to eligible customers holding an XRP balance on Bittrex at the time of the snapshot.
If you are an eligible customer holding an XRP balance on Bittrex on December 11, 2020 at 3:50 PM PST, you will receive Spark tokens at a later date after the Flare network launch. Your XRP balance dictates the amount of Spark that Bittrex will receive on your behalf. Bittrex will distribute Spark tokens to XRP holders as per the following equation:
- Number of SPARK obtained by Bittrex users = Number of SPARK obtained by Bittrex * Percentage of user holdings.
- Percentage of user holdings = the number of XRP owned by a user/ the total number of XRP holdings of Bittrex.
Spark tokens will be distributed following the launch of the Flare Network, expected between mid Q1 and mid Q3 2021. Further details regarding the distribution of FLR can be found here: https://blog.flare.xyz/further-information-on-the-spark-token-distribution/
Bittrex will take the following steps in preparation for the snapshot event:
- Disable XRP wallets and markets: Friday Dec 11 at 3:40 PM PST
- Take XRP snapshot: Friday Dec 11 at 3:50 PM PST
- Enable XRP markets and wallets: following snapshot
We would like to thank the Flare Network team for working closely with us.