Source: somagnews
As per today's announcement from Binance the company has decided to support the Spark Airdrop for XRP holders and informed its users with concrete details about the upcoming snapshot and further announcements once the distribution is complete.
The upcoming snapshot of Binance XRP holders will be taken exactly or just slightly after 00:00 (UTC) on 12th of December 2020, with that deposits and withdrawals will be temporarily suspended for the duration of the snapshot.
Trading of XRP is not planned to be affected during the snapshot
To qualify you need to own at least 10 XRP to be held either in your savings wallet, spot wallet or coin-margined futures wallet, however you will not qualify if the tokens are held in margin accounts nor in crypto loans.
Further announcements will follow in regards to the distribution of Spark tokens once the project distributes the tokens to exchanges (such as Binance).
The following is the formulae which Binance will be applying when rewarding individuals with Spark tokens
User A = Amount of XRP held by User A at the time of snapshot / Total XRP held by Binance at the time of snapshot * Total SPARK received by Binance for the airdrop
This article was originally posted on read.cash