What is Spark Airdrop? What is the Flare Network and Flare Finance? What is FLR, FXRP, DFLR, & YFLR? PASSIVE INCOME FOR LIFE LENDING FLR?
Spark Airdrop= FLR
Flare Finance Airdrop = DAOFlare (DFLR) which can then be exchanged for YFLR (I incorrectly stated YFIN in the intro, YFIN is the token you can receive by staking YFLR )
SPARK ISSUANCE- Statement https://flare.ghost.io/theflarenetwork/
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.
Contents of this video————-
00:00 – Intro
01:17 – Why is the XRP Community Getting Airdrops?
04:00 – How will you be TAXED?
05:18 – How the Flare Network works with XRP
06:17 – How FLARE solves ETHEREUM Issues!
11:30 – How FLARE will be a better DeFI Network
12:56 – How your FLR can be used for PASSIVE INCOME!
20:39 – What is FlareFinance (DFLR , YFLR, YFIN), be your own BANK?
23:54 – Mine Bitcoin and Ethereum for FLR?
24:42 – How to earn FLR supporting the network? Rent computing power?
IRS AIRDROP Revenue Ruling- 2019-24: https://www.irs.gov/pub/irs-drop/rr-19-24.pdf – AIRDROP will be taxed at ordinary income rates.
Proof of Stake research paper, security implications= https://arxiv.org/pdf/2001.00919.pdf
Flare Finance Details=
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