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Flare airdrop (FLR) arrives for Young Platform users

FI
Filippo Iachello

3 min

Immagine Articolo Default

You can now buy Flare (FLR) on Young Platform. If you were eligible for its airdrop, check your wallet!

You can now buy, sell and store FLRs on Young Platform! The good news, however, does not end there. 

An airdrop is also coming/coming for users who held Ripple (XRP) in December 2020. Here’s what Flare (FLR) is, everything you need to know about the free distribution of this token and how it fits in the context of the benefits provided to our Club members.

Flare: all you need to know

Flare is a Layer 1 Proof-of-Stake blockchain that aims at interoperability, a key component for projects that intend to communicate with decentralised applications (dapp) and protocols built on other blockchains. 

Its primary use case has to do with this very feature. As stated in its whitepaper, published in August 2020, the mission was to enable the development of smart contracts on networks that needed to be prepared to receive them.

Flare’s blockchain, which before the release of the second version was called Spark, has always been closely linked to Ripple and, in particular, to the XRP Ledger, as evidenced by the airdrop dedicated to cryptocurrency holders of the same name.

How to use FLR on Young Platform

Here are all the features available for Flare(FLR) on Young Platform and Young Platform Pro:

  • Buying and selling with EUR
  • Recurring purchase
  • Creating a Single Currency or Customised Money Box

FLR’s airdrop: who gets it?

Young will distribute the Flare token (FLR) to all users who own Ripple (XRP) in their wallet on 12 December 2020, 00:00 UTC. The number of Spark tokens that each user will receive depends on the amount of XRP held and will be calculated according to the following formula:

User A = Amount of XRP held by User A at the time of airdrop / Total XRP held by Young at the time of airdrop * Total FLR received by Young for the Airdrop.

Finally, Club members will be pleased to learn that the ‘airdrop reward’ advantage applies to this free distribution of tokens. This means that these users will receive progressively more tokens depending on which Club they belong to:

  • Club Bronze +10%;
  • Club Silver +15%;
  • Club Gold +20%;
  • Club Platinum +25%.

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