This article is subject to change and lays out GateHub's initial plans for supporting Flare. We will notify our customers when all the features are finalized and available.
Spark token is the native token of the Flare network. It is primarily used for spam control of the network, but can also be used as collateral within applications, a contributor to an oracle or as a governance methodology on the Flare network.
GateHub will support claiming Spark tokens with native XRPL wallets and Hosted wallets. We are also planning to support deposits, withdrawals, trading and exchanging of Spark on both XRPL and Hosted wallets.
Claimed Spark tokens will be issued as an IOU on the XRPL.
Claiming Spark token will be available to all XRP holders on the XRPL or users of custodial exchanges that support the distribution. Addresses belonging to Ripple Labs and certain previous employees of Ripple Labs are exempt from this distribution.
Claiming Spark for GateHub Users
Please note that detailed instructions on how to claim Spark token are still to follow.
You will need to set up each of your XRPL wallets for claiming Spark individually. Your Flare (claim/deposit) address will be generated automatically for you and you will then be able to claim Spark to your wallet after the snapshot date.
A snapshot of all XRP Ledger addresses will be made on December 12, 2020.
We are planning to make the process of claiming and distribution of Spark automatic for all Hosted wallets.
Flare network will process claims up to 6 months after the launch of the network. Make sure to set your wallet and claim Spark on time!
Please note that a sufficient XRP reserve will be required to set a Spark trust line in order to receive the distribution.