What's all this about FXRP? Will there be a fork and anyone who holds XRP will be issued an equivalent amount of FXRP or will you have to trade in your XRP in return for FXRP?
What's all this about FXRP...
Colton Morgan
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Elijah Wood
It will fork, you get 1:1 spark for xrp. You do not trade in your xrp, it's a utility fork meant to compliment the original. First utility fork BTW, just more history being made.
John Lewis
>first utility fork
Ethereum and BSV are both utility forks.
Oliver Cook
Are you sure its 1:1?
Carson Perez
So if I hold call it 500 XRP, I will get 500 FXRP, leaving me with 500 of each?
So then its truly a fork, not an exchange, as some other have been saying.
Lucas Ortiz
There's no fork unless I missed some news. Official announcement of a fork would pump this noticeably.
Juan Moore
arnt they currently negotiating with exchanges to see if holders there will be rewarded?
Michael Watson
Yes 1:1 hold 2000 XRP, it is matched with 2000 FXRP/SPARKS... when this happens XRP bag holders will be twice as wealthy. Flare will be #1 in DeFi.
Better start accumulating that XRP or stay eternally btfo’d
Nathan Rogers
flare.ghost.io
Spark Issuance
The best community to own the asset that enables the use of XRP with Turing complete smart contracts is the community that will use it and benefit from it: XRP holders. Flare is not doing an ITO. Instead, it is doing what we term a utility fork. We believe it’s the first of its kind.
A fork traditionally has sought to take the user base of an existing network and depart entirely from that network, usually to have an antagonistic relationship with the original chain. In contrast, a utility fork is intended to bring value back to the original chain instead of moving away from it. Flare lets XRPL do what it does best, fast settlement, whilst bringing to XRPL, smart contracts and the feasibility to create a trustless pipeline to other blockchains. We think this is a truly powerful combination and a perfect example of utility.
100 Billion Spark tokens will be created to mirror the quantity of XRP that exists. There are approximately 45 Bn XRP tokens that do not belong to Ripple labs. The objective of the distribution is that XRP holders other than Ripple can claim approximately a 1:1 amount of Spark to their XRP holding. 45 Bn Spark will be claimable by XRP holders (stripping out known Ripple labs addresses). 25 Bn Spark will go to Flare Networks Limited which is Flare’s for-profit organization. 30 Bn Spark will go to the Flare foundation.
Nathan Hill
Will it just appear in my wallet?
fuck yeah
Jason Garcia
The best part of this is that Ripple hold Jed's XRP in an Ripple Labs wallet that releases X amount on a timetable in accordance with the court ruling...so Jed is gonna get BTFO on 4bn FXRP.
Camden Thomas
Yes, it looks that way... just hold xrp
Jason Lopez
Yeah. The whitepaper said 1:1
Aaron Allen
Step 1: Buy XRP
Step 2: Get equal amount of FXRP
Step 3: Sell all my FXRP
Step 4: Use money gained to buy more XRP
Step 5: Get more FXRP for frees.
Repeat process.
Aiden White
Lets go. This is actually huge. God bless RippleLabs, fuck you Jed.
Kayden Myers
sounds legit
Parker Scott
I believe its a one time snapshot so probably can't repeat again and again and again etc
Kevin Flores
Yes
Aiden Myers
Jed is a nigger, to be sure.
So do all wallets work? Can you hold them in exchanges? I'm confused on how to actually get the FXRP
Camden Perez
Jordan Scott
When is the snapshot scheduled to take place? Also will this count for the XRP held in exchanges?
Benjamin Jones
What's the token contract/address for FXRP?
Kayden Gonzalez
Apparently it is just a fork. If you hold XRP you will receive a 1:1 amount of FXRP.
For example, if you hold 100 XRP, at the date of the fork you will receive 100 FXRP. At that point you will have both 100 XRP and 100 FXRP.
The wording on the flare website is stupidly confusing for how simple it actually is. If I am wrong, someone please correct me.
Jeremiah Collins
Im sure it will progresive... And we should pay attention to the ERD migration to eGLD, it is not a fork but it could give us a hint of how the process will work on out wallet and exchanges
Adam Rivera
Good annoucement? Why is it dumping
Joshua Wilson
>inb4 first leaked on Zig Forums
Liam Myers
Because the entire market is dumping. Just because XRP has good news doesn't mean its immune from from the ails of the entire market.
Joseph Carter
+ peeps dno about this shit yet
Carter Richardson
Not quite.
Dylan King
Okay but the BIG FUCKING QUESTIION
When is this all going down? WHHHHEEEENNNNNNN?!?!?!?! TELL MEEEEE!!
Jordan Perry
Ayden Kelly
It looks like "FARP" so you know it'll be good
Tyler Gutierrez
So I’ll have 10k exarepee
Then 10k fexarepee?
Jonathan Barnes
lol what's that horse doin in there? lol
Nathan Cruz
checked
JFK assassin
Kayden Bell
I hold my XRP on coinbase because normyfag.. Is this bad? If so, what do you recommend?
Lucas Cox
This. What is best wallet for for and will I get spark is I hold in atomic?
Elijah Walker
get trust wallet. free, and on your phone. The only way to lose your coins this way is if someone literally steals your face.
Matthew Sanchez
Yes.
Carson Rivera
I use a ledger am I safe?