Flare Network announces Litecoin (LTC) integration in Q2 2020 highlighting the period for Spark Token Airdrop
Flare Networks has announced that it will soon be integrating Litecoin (LTC), the fifth-largest cryptocurrency.
Flare Network said it will integrate LTC before its launch in the second quarter of 2021 prior to the Spark Airdrop.
This new integration will enable smart contract functionality to the Litecoin blockchain, thus significantly making it possible to build decentralized application on its blockchain network.
The Flare Network ecosystem has mapped out five billion Spark token (FLR) tokens for Litecoin holders. Ripple-backed Flare Networks airdrop 45.8 billion tokens after the snapshot of XRP addresses in December 2020. Every eligible holder will get 1.0073 FLR per token.
Only 15 percent of the total airdrop token entitled to each qualified participant will receive airdrop after the network launch. The rest of the tokens entitled to each participant will be distributed over the space of two years. It’s expected to go round at a maximum of 34 months.
Hugo Philion, cofounder and CEO of Flare Networks, explained that the rest of the Spark (FLR) tokens would be received by the Flare Foundation.
Further updates concerning LTC’s integration into the Flare ecosystem will be announced next week.
Flare platform has confirmed that the delisting of XRP on exchanges won’t affect the supposed airdrop for all eligible accounts during the snapshot.
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