Flare airdrop: snapshot of balances on 12 December 2020

UPDATE 22 Dec 2020

Frequently asked questions about the Flare airdrop:

When will my Flare tokens be available?
Your Flare tokens will become available when the Flare Network goes live, which is expected to happen in the first half of 2021. Please note the exact date and amount of Spark you receive depends on Flare Network’s distribution process and Bitstamp is just following the procedure.

Flare will initially distribute 15% of the total Flare for which users are eligible. The remaining supply of Flare will be distributed on a monthly basis, over a minimum of 25 months and maximum of 34 months. During this period, Flare will distribute approximately 3% of the Flare you’re eligible to claim each month.

What do I need to do to claim Flare?
You don’t have to do anything. Bitstamp will handle all technical aspects regarding the airdrop and claim Flare tokens on your behalf when eligible.

Where can I claim Flare?
You don’t have to claim Flare tokens yourself. Bitstamp will claim them on your behalf as soon as the Flare network launches and they become available. We will let you know when that happens and instruct you in case you need to take action.

Will I be able to buy Flare tokens at Bitstamp?
Supporting the airdrop does not necessarily mean we will be listing the Flare token. We are currently in the process of evaluating support for Flare at Bitstamp.

Will you send a confirmation when you have made the snapshot?
If you held XRP in your account on 12 December 2020, we are going to send you an email in January 2021 with information on exactly how much XRP you held during the snapshot. If you don’t receive our email by the end of January 2021, send us a message at support@bitstamp.net.

Exactly what amount of Flare tokens will I be credited with (will it be 1:1)?
You will receive no less than 1 Flare token per 1 XRP, according to your balance on 12 December. The actual amount of Flare per XRP you receive may be slightly higher than 1:1, as explained here

For more information, you can see Flare’s FAQ and their further information on distribution or contact our team at support@bitstamp.net.

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We’ve previously announced that  Bitstamp will support  Flare Network’s Flare token airdrop.

Each Bitstamp customer that holds XRP will receive new Flare tokens as part of the airdrop. How much Flare you are going to receive depends on how much XRP you have in your account on 12 December 2020.

To determine how much Flare to credit to each customer’s account, we are going to take a snapshot of balances at 00:00 AM UTC on 12 December. We will disable XRP deposits and withdrawals approximately half an hour before the snapshot and re-enable them half an hour after we’re done. XRP trading will not be affected.

Flare tokens will be distributed at a later date, which depends on when the Flare Network launches.

For the latest updates, follow our Twitter channel.

Find more information about Flare token here.