The XRP:FLR Claim Ratio

The XRP:FLR Claim Ratio

The information contained in this post was part of our development process but is no longer accurate. The native token is now called Flare (FLR), not Spark. Please also see the recent governance proposal post for the latest details on FLR token distribution.

After a week of analysis with Flare's partners, XRPLORER and Towo Labs, the XRP: FLR claim ratio can now be set out.

Claim formula:

The claim formula below sets out the amount of Spark that an XRP holder can expect to receive in total.

$$\text{Spark  claimable} = \frac{\text{XRP owned}} {\text{XRP total - XRP Ripple - XRP NPE }} *\text{Distribution Amount},$$

where the variables are:

Spark claimable: The amount of Spark claimable by an XRP address.

XRP owned: The amount of XRP in the XRP address at the time of the snapshot.

XRP total: The total amount of XRP in existence at the snapshot date.

This came to: 99,990,822,918

XRP Ripple: The XRP held in Ripple Inc related accounts at the time of the snapshot including escrowed balances.

This came to: 54,172,271,587

XRP NPE: The XRP held by non-participating exchanges at the snapshot date.

This came to: 322,744,698

Distribution Amount: The total amount of Spark (FLR) being distributed to XRP holders.

Due to Ripple Inc's custody of XRP on behalf of a charitable organisation, which will be permitted to claim FLR, the amount calculated as held by Ripple Inc. is lower than originally assumed. So as to maintain the strict minimum 1:1 distribution ratio the distribution amount is therefore increased from the previously stipulated 45,000,000,000 to 45,827,728,412. The total FLR created remains 100,000,000,000 with the difference coming from the amount to be received by Flare Foundation.

Final Ratio:

For each 1 XRP held then 1.0073 FLR (rounded to 4 decimal places) can be claimed.