VALR will support the SPARK Airdrop Program for XRP holders.
A snapshot will take place at the first validated XRP ledger index number with a timestamp greater than or equal to 02:00 AM (SAST) 12 December 2020. Only VALR customers with at least 10 XRP will be able to participate in the airdrop. If your balance is lower than 10 XRP at the time of the snapshot, you will not be able to participate in the airdrop on VALR. Once the airdrop is complete, customers will be able to withdraw their allocated SPARK tokens (although this may take a few months to complete). The airdropped SPARK amount for each user holding XRP will be calculated as follows:
Amount of XRP held by a user (with at least 10 XRP) at the time of the snapshot / Total XRP held by VALR at the time of the snapshot * Total SPARK received by VALR for the airdrop
Spark tokens will be distributed following the launch of the Flare Network, expected between mid Q1 and mid Q2 2021. Further details regarding the distribution of FLR can be found here: https://blog.flare.xyz/further-information-on-the-spark-token-distribution/
PLEASE NOTE THE FOLLOWING:
- XRP deposits and withdrawals will be suspended starting from 10:00 PM (SAST) 11 December 2020 until at least 6:00 AM (SAST) 12 December 2020 (the "suspension period").
- XRP-to-crypto pair trading (i.e., XRP-BTC & XRP-ETH) will be suspended over the suspension period. XRP-to-ZAR trading will remain unaffected.
- XRP tokens that are pending deposit or withdrawal at the time of the snapshot will not count towards your XRP balance. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the suspension period.
- XRP balances under 10 XRP will not be eligible for the airdrop.
- VALR does not guarantee the listing of SPARK on any trading pair on VALR. By default, you should assume that VALR will not be listing any SPARK trading pair and it will only be available for withdrawal to a wallet of your own choosing after the airdrop is complete.
- VALR will distribute SPARK tokens after the project has completed the SPARK token distribution to XRP holders. We will post a further announcement once the distribution is completed. This may take a few months to complete after the snapshop on 12 December 2020.