1. First airdrop: the SPARK token (FLR) airdrop.

The About 45 billion Flare Network SPARK tokens (FLR) will be distributed by airdrop across all people who owned Ripple (XRP) at the moment of the snapshot of the XRP ledger on December 12, 2020. In anticipation of the airdrop snapshot data, XRP saw its price rise from $ 0.3 to $ 0.79 in a matter of days before correcting along with the other cryptocurrencies and eventually returning to a rate of $ 0.30 due to news related to the SEC’s securities lawsuit against Ripple and XRP.

What is Flare Network?

The XRP holders who will be credited with Flare Network's SPARK tokens (FLR), receive a new digital currency intended to compete with the Ethereum network. With the Ethereum network layer 2 developments in the eye of the news, XRP is trying to distract developers and decentralized applications (dapps) from Ethereum. Flare network is a programmable blockchain supported by Ripple's development arm, RippleX, As such, Flare network is an important part of the XRP ecosystem. Similar to Polkadot, XRP wants to offer a complete ecosystem that can be applied to all money-usecases.

The DeFi movmenent didn't go unnoticed by RippleX, and Flare's smart contract functionality is aimed at opening up the XRP Ledger (XRPL) to the rapidly evolving and maturing DeFi market.

When do you receive your SPARK tokens (FLR)?

The more than 43,000 airdrop participants will receive about 15% of all Spark tokens (FLR) shortly before the launch of the Flare Networks mainnet. The remaining 85% of all FLR will be issued over a period of 25 to 34 months.

2. Second airdrop: the Flare Finance airdrop $DFLR (DAOFlare).

Flare Finance is developing the first DeFi project on the Flare Network and will also conduct an airdrop. The snapshot for this airdrop will take place exactly 30 days after the Flare Network's mainnet launch, and the distribution of the tokens from Flare Finance (DFLR) will take place within the next 7 to 10 days.

Convert your DFLR tokens to YieldFlare (YFLR) token.

The YieldFlare (YFLR) token will be the official token of the Flare Finance ecosystem.

Flare Finance wants to offer the fastest and most cost-effective DeFi experience for XRP/FLR users by leveraging the unrivalled architecture of the Flare Network and XRP Ledger. The protocol will implement 6 products with different use cases:

• FlareX: decentralized exchange;
• FlareFarm: governance platform, designed to enable YieldFarming;
• FlareLoands: lending and borrowing platform;
• Stablecoin: FlareUSD:
• FlareMutual: diversified risk-based investment fund;
• FlareMine: liquidity mining.

Let's crunch some numbers.

YieldFlare (YFLR) will function as the core of the ecosystem and have a total supply of 110,000,000 YFLR. The initial distribution will be limited to 40,000,000 YFLR.