eToro updates on distribution of Spark tokens
The date of Flare’s Spark distribution is approaching, so online trading company eToro has provided an update on the matter to its clients.
Back in October 2020, Flare announced that all eligible holders of $XRP would be given Spark tokens. eToro says it will support the Spark distribution for fully verified XRP-holding users of the eToro investment platform and users of the eToroX crypto exchange, who meet certain eligibility requirements.
A global “snapshot” of XRP holders was taken by Flare on December 12, 2020. According to the information contained within this snapshot, eligible XRP holders are entitled to receive Spark proportional to their balance on the date of the snapshot. Please note that it may take some time for the tokens to be released and distributed to eligible users.
Below are the eligibility requirements that users of the eToro investment platform or the eToroX crypto exchange must meet in order to receive Spark tokens:
- Users must have held the $XRP tokens consecutively between 00:00 on 11.12.2020 GMT, and 00:00 on 13.12.2020 GMT. XRP tokens that were pending deposit or withdrawal at the time of the snapshot were not counted towards a user’s XRP balance. The eToro records at the moment of the snapshot were regarded as conclusive evidence.
- The snapshot did NOT include XRP leveraged positions, CFD positions, short positions, CopyTrade positions or CopyPortfolios, or any cross transactions of XRP with other cryptoassets and/or with currency or such transactions otherwise classified as CFD on the eToro platform.
- Holders of XRP in the eToro Money (Wallet) app at the time were not included in the snapshot and therefore are NOT eligible for the Spark distribution.
- Users must have been fully verified at the time that the snapshot was taken, and must still be fully verified at the time of the Spark distribution.
The Spark token distribution program supported by eToro is subject to regulatory requirements, and may be accompanied by further terms, as applicable to eligible users and the mechanics of the distribution.
The tokens will be distributed by Flare in stages over the next three year. eToro says it does not know when Flare will make the first distribution, however, eToro will be aligned with Flare.
Etoro will be distributing the full amount to all eligible customers, according to the December 2020 snapshot.
Over the coming weeks, eToro will be sending an email to all eligible eToro users to inform them about what they need to do to get their Spark tokens and also what they should do in order to opt out of receiving Spark.
For more information, please, check the eToro team posts.
Anonymous
August 4, 2021 @ 9:06 pm
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