Creating & Redeeming FXRP
Who can claim the Spark token?
All XRP owners barring Ripple Labs and certain previous employees of Ripple Labs can claim the Spark token.
How many Spark tokens are available to claim?
45 Billion.
How is the distribution apportioned?
Right now there are about 45 Billion XRP tokens that are distributed to non Ripple Labs holders. These are distributed across holders who self custody and those that keep their XRP at an exchange or other provider.
First, a snapshot will be taken of all XRP Ledger addresses at a specific ledger index number.
Second, from this snapshot known addresses belonging to: Ripple Labs, certain previous employees of Ripple Labs and any exchanges that have not confirmed their support to Flare will be removed.
The right to claim the 45 Billion Spark tokens will then be apportioned to each remaining address according to their proportional XRP balance in the snapshot. This may result in valid claimants receiving more than 1 Spark token for each XRP token that they hold. This is due to non participating exchanges being excluded from the distribution but being counted in the 45 Billion tokens that are distributed today.
