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Giottus Enables XRP Holders to Participate in Flare’s Spark Airdrop

Giottus cryptocurrency exchange has announced support for the upcoming Spark airdrop. Not just that, they have sweetened the deal by promising an additional 5% Spark tokens than the stipulated amount. In other words – you get more spark tokens if you hold your XRPs in Giottus than any other exchange across the world.

The airdrop will distribute Spark (FLR) tokens among Ripple (XRP) holders on the platform. According to the exchange, Giottus customers with XRP balances as of 05:30 IST on December 12, 2020 will receive Spark tokens from the platform.

Within the Indian cryptocurrency ecosystem, Giottus, which is also an official partner for the Spark token airdrop, is already known as amongst the reliable and relatively inexpensive platforms for traders to buy, sell, and trade over forty popular cryptocurrencies, including Bitcoin, Ripple, Ethereum, Bitcoin Cash, Tron, Tether, and more. The Spark token airdrop is a major event for XRP, and enabling the Indian XRP holders to benefit from it is something that could prove to be a game changer for the Giottus platform, as well as the crypto markets in India in general. 

Spark Token: An Introduction

Spark is the native token of the Flare Network – a decentralized network that is bringing full smart contract functionality to the XRP ledger. Flare is the first Turing-complete Federated Byzantine Agreement network, and the first release of Flare is running on the latest Ethereum Virtual Machine. Apart from Spark, Flare also intends to deploy most of Ethereum’s existing applications on the Ripple blockchain, including DeFi (decentralized finance).

Flare has developed Spark as a utility fork of the XRP blockchain. Among the many appliances of Spark are:

  1. It can collateralize the supply of FXRP – a truly trustless representation of XRP on the Flare network. 
  2. They will be used as governance tokens on Flare for spam prevention.
  3. Flare intends to use the Sparks tokens to generate required data on Flare through an oracle system.

How Does the Spark Airdrop Work?

According to Flare, anyone who holds XRP tokens is entitled to the initial issuance of Spark tokens during the airdrop on a 1:1 basis. So essentially, for every XRP in circulation, one Spark token will be distributed. Therefore, although the definite number of Spark tokens Flare is about to airdrop is still unknown, there will be at least as many Spark tokens minted as the number of XRP currently available – which is around 45 billion. 

The Spark token airdrop has already had an impact on the global cryptocurrency markets. As XRP fans have been trying to buy up and hold as much XRP as possible, the price of XRP has more than doubled since Flare announced the Spark airdrop. Right now, there’s a good chance for XRP holders – and Giottus users – to benefit from this volatile market.

XRP Price: Sep 8 to Dec 8 | Source: CoinMarketCap

Why Giottus?

Giottus was founded by IIM Calcutta alumni Vikram Subburaj and Arjun Vijay – both of whom happen to be blockchain and cryptocurrency enthusiasts. Right from the beginning, the platform has focused on being easy to use and trustworthy, so as to enable the average Indian to become a crypto trading expert. 

Is Giottus safe?

There seem to be competent cyber-security measures in place to offer both customers and their funds the maximum possible security. Additionally, the Giottus cold wallets are also secured by full insurance against any cyber crimes, and customer investments are provided with insurance protection.

But Why Giottus?

Perhaps one of the best features of the exchange is its multilingual customer support system. In a country as diverse as India, it’s offerings like these that assure you a market share and consistent growth. Of course, this multilingual customer support is available across phone, emails, and live chats. 

Giottus is one of the fastest cryptocurrency exchange platforms within both the intra and international markets. The Giottus team claims they can process around 50,000 transactions a second. Plus, Giottus provides 24/7 instant cash deposits and withdrawals. XRP withdrawal fees are also zero, which is great.

More Ways to Earn

And we almost forgot – there’s a Giottus referral program as well. With decent earnings to be made. Customers can win upto 10,000 Matic Network tokens by referring more consumers, following and posting about Giottus across social media profiles, and spinning what Giottus calls its ‘Fortune Wheel’. 

How To Claim Your Spark

All users with XRP balance on Giottus at 05:30 IST on 12 December will receive free Spark tokens from the platform. Giottus will begin the distribution once the Flare network completes the issuance of Spark tokens. 

You can do either of the following to receive these Spark tokens:

  1. Buy XRP on Giottus, and hold it in your Giottus wallet till 02:00 IST on 12 December.
  2. Transfer XRP that you hold in any other exchanges to your Giottus wallet. 

Users also have the chance to earn an extra 5% on the deposits when they move their XRP to a Giottus wallet. For further information on the Spark distribution process, do visit the Giottus website here

The Spark airdrop is an exciting time not just for XRP users, but for crypto traders across the country – both existing Giottus users, and those who’d likely make the switch with news of this airdrop support. It has the potential to bring some big changes in the XRP protocol and the wider cryptocurrency markets across the globe in general. 

Disclaimer: Coin Crunch partners with multiple projects for consulting and marketing initiatives. Our editorial however remains uninfluenced by our partners unless specifically mentioned. For more details about our policies, please check out this disclaimer.

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