April 17, 2023

Flare Airdrop: Coinbase Airdrops $601M FLR to XRP Holders

Coinbase Airdrops 601 Million FLR To XRP Holders

We recently reported that Coinbase was gearing up to launch a large-scale airdrop of up to US$120M worth of FLR tokens by Flare Network, and the major cryptocurrency exchange has just completed the mammoth payout. Coinbase has now airdropped 601 Mln FLR tokens to XRP holders on the platform.

The massive token distribution was executed as part of the latest Flare Network initiative for its upcoming “Spark” airdrop. Flare Network initiated this process as a way to encourage XRP holders to lock their tokens with its new “smart contract technology” and make them useable for future decentralized finance applications.

Coinbase confirmed that the snapshot for the Spark Airdrop had been taken on December 12th and that “tokens are expected to be distributedd within 7 days.” The exchange also noted that token distribution had already started on December 15th and added:

"We're thrilled we can help facilitate this Spark Airdrop, one of the first few major airdrops of its kind."

Flare Network is not only boasting interoperability with Ethereum but alsso with Bitcoin which it hopes will enable smart contracts built on the network access BTC within their applications.

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