Cryptocurrencies

Flare Networks to offer Spark (FLR) to Litecoin (LTC) owners – Cryptocurrencies

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Flare Networks announced a Spark (FLR) token airdrop to Litecoin (LTC) holders). He had previously performed a similar airdrop of FLR tokens to Ripple (XRP) holders in December 2020.

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DeFi with Litecoin

Flare Network announced a token airdrop FLR to the community LTC, before launching its mainnet in 2021.

This operation is the first step before lead to the integration of Flare Networks into Litecoin.

This integration aims to bring DeFi services to LTC, by allowing the latter to be used on Flare with smart contracts Ethereum (ETH).

Flare Networks indicated that he had reduced the five billion tokens initially intended for the founders in order to cover the costs of this airdrop.

The network is increasing the number of partnerships in order to become an interoperable blockchain.

A regular at airdrops

Flare had already launched a token airdrop campaign FLR for the community XRP in December 2020.

45 827 728 412 Spark tokens, are expected to be distributed in the first half of 2021.

The CEO and co-founder of Flare Networks, Hugo Philion, estimated that the ratio between the holders of XRP and FLR was quite close to 1: 1.

For each XRP held by an eligible cryptophile, the airdrop plans to distribute 1.0073 Spark tokens.

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Although the lawsuit opposing Ripple to the DRY approach, this situation should not prevent holders of XRP to receive their tokens FLR.

Details of FLR’s airdrop for the LTC community are expected to be available before the end of January 2021. Flare is being “generous” but there is no real guarantee of the future value of his token. With a Ripple released by the major crypto players, in particular by exchanges, will Flare be able to replace Brad Garlinghouse’s crypto in the medium and long term? The SEC is currently used to winning all its legal arms over crypto projects. Flare had some flair when he initiated this airdrop to the XRP community at the end of December 2020.

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