Flare Networks’ Spark token airdrop was pushing up the value of XRP. It is now up to Litecoin to benefit from this free allocation of tokens.
Flare Networks goal is to bring interoperability between blockchains to allow them to participate in decentralized finance. Before launching its mainnet, Flare therefore performs airdrops.
The first distribution of free Spark tokens thus concerned holders of XRP. This airdrop also helped to increase the price of the token. This increase is only a distant memory, however, due to the SEC’s complaint against Ripple.
Interoperability with DeFi for Litecoin
This mishap does not however concern the holders of Litecoin tokens. And these will be the next to benefit from an airdrop from Flare Networks. Moreover, the price of LTC is already on the rise.
The current 5e Cryptocurrency in the world in terms of capitalization is therefore also of interest to Flare Networks. Its goal is to allow LTC “to be used without confidence on Flare-type smart contracts with Ethereum.” “
The operators of the future blockchain thus promise to offer “interoperability and composability” to Litecoin. But the priority, in the immediate future, for the holders of the crypto-asset, is therefore to benefit from free Spark (FLR) tokens.
45 billion Spark for XRP holders
But how many chips can they hope for? Details will be communicated this week. Regarding XRP, more than 45 billion Spark will be allocated to eligible holders. The ratio is 1.0073 Spark for an XRP.
The value of LTC is much higher than that of XRP, however, being over $ 140 for Litecoin compared to around $ 0.30 for Ripple’s token. The ratio should therefore a priori is quite different. “The allocation of Flare Foundation tokens will be reduced so that 5 billion FLR can be distributed to LTC participants”, however specifies the issuer.
Who says airdrop, however, does not necessarily mean profit in the long term for the beneficiaries. “There can be no guarantee that these tokens will have any value when Flare is finally launched,” Decrypt rightly recalls.
This will depend in particular on the adoption of blockchain and its weight in DeFi. However, in this market, competition is not lacking. The congestion of Ethereum, an essential blockchain in this market, arouses many ambitions, in particular on the part of Solana.