Flare Networks has just announced a Flare Litecoin airdrop. Litecoin will be integrated on the Flare Network launch as soon as in Q2 2021. This will allow LTC users to be used trustlessly on Flare with Ethereum style smart contracts. The information was officially launched by Flare Networks in an official Twitter post.
Flare Litecoin Airdrop
According to the information released by Flare Networks, LTC participants will also receive FLR tokens. The Flare Litecoin airdrop will be available thanks to a reduction in the number of FLR tokens allocated to the Flare Foundation. Although we do not have a full list of details, we are going to be updating this post with all the information available about the Flare Litecoin Airdrop.
The Flare Foundation wrote on Twitter:
“Flare will be integrating Litecoin ahead of the Flare network launch in Q2. This will allow LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability.”
About the Flare Litecoin aidrdop, they mentioned that the Flare foundation token allocation will be reduced. In this way, 5 billion FLR tokens will be airdropped to Litecoin users. It is not clear whether every single Litecoin user will receive FLR tokens.
This is not the first time that the Flare Network is doing an airdrop for crypto users. Last month, XRP addresses registered within the Flare Network have been snapshotted to be able to receive Spark tokens. This time, Spark tokens will be airdropped to Litecoin users. This pushed XRP price higher.
WARNING: NEVER provide others with your secret keys, passwords, secret numbers, mnemonic phrases, seed phrases or anything else to claim Spark tokens. If you want to claim Spark tokens, the best thing you can do is to use Binance.
What is the Flare Network?
The Flare Network is one of the most advanced financial solutions in the cryptocurrency industry. This is the first Turing complete FBA network to be released to the market. They are offering scalability without the need of using a native token for safety reasons.
In addition to it, the network has been fully integrated with the Ethereum virtual machine. This is why the Flare Litecoin airdrop could help LTC users to get access to Ethereum style smart contracts and interoperability.
Furthermore, the network is also very efficient due to its low transaction costs and efficiency. With the Spark Token, users will be able to get access to a wide range of services and tools. The platform is expected to be released during the first half of 2021.
Spark (FLR) Cryptocurrency
The Flare Litecoin airdrop will be sharing with users Spark (FLR) cryptocurrency. The virtual currency is the native token of the Flare Network. Individuals will be able to use it as collateral for trustless issuance of assets from non-Turing complete chains.
XRP and Litecoin are going to be the first virtual currencies to be used on the Flare Network. Furthermore, this token will also be useful to improve the governance of the network. The Spark token will secure and improve the whole ecosystem.
It is worth pointing out that there was no Initial Coin Offering (ICO) for the Spark token. With the Flare Litecoin aIrdrop, users would be able to receive FLR tokens. Moreover, XRP users that were present in the past snapshot will also receive FLR tokens.
Users of two of the largest cryptocurrency and blockchain networks in the market will be able to participate on the Flare Network. Regarding the spark cryptocurrency price, there is no current information on it. Once users claim their aidrdop, they will be able to exchange their coins on the available exchanges.