Flare Networks has announced a Spark Token Airdrop (FLR) to Litecoin (LTC) holders. He had previously performed a similar airdrop of FLR tokens to Ripple (XRP) holders in December 2020.
DeFi with Litecoin
Flare Network announced an airdrop of FLR tokens to the LTC community, ahead of its mainnet* launch in 2021. (*mainnet definition according Bincance : “term used to describe when a blockchain protocol is fully developed and deployed“)
This transaction is the first step ahead of integrating Flare Networks into Litecoin.
This integration aims to bring DeFi services to LTC, allowing the latter to be used on Flare with Ethereum smart contracts (ETH).
Flare Networks said it had reduced the five billion founders tokens to cover the costs of this airdrop.
The network is increasing the number of partnerships in order to become an interoperable blockchain.
A regular in Airdrop
Flare had already launched an FLR token airdrop campaign for the XRP community in December 2020.
45,827,728,412 Spark tokens, are expected to be distributed in the first half of 2021.
Flare Networks CEO and co-founder Hugo Philion estimated the ratio of XRP and FLR holders to be quite close to 1: 1.
For each XRP held by an eligible cryptophile, the airdrop plans to distribute 1.0073 Spark token.
Although the Ripple-SEC lawsuit is approaching, this should not prevent XRP holders from receiving their FLR tokens.
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 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 at the location of the XRP community at the end of December 2020.