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FLR, DFLR Airdrops Explained by XRP Community: Rates Revealed

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Croatian XRP enthusiast Dario Šuveljak, well known for his explanatory infographics covering XRP ecosystem, unveiled two manuals to explain FLR and DFLR airdrops.

Mr. Šuveljak shared the differences between the two airdrops and indicated the exact XRP/FLR and FLR/DFLR rates. Now it is clear how many DFLR tokens will be distributed among Flare blockchain tokenholders.

DFLR tokens will be distributed at 1:172 rate

According to the infographics shared by Mr. Šuveljak (who goes by @stedas on Twitter), the accurate FLR claim ratio is 1.0073 FLR for every one XRP held. The snapshot of XRP balances was taken by the Flare Networks team on Dec. 12, 2020, with much fanfare.

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As a result, every XRP holder who claimed Spark (FLR) tokens prior to this date will receive 1.0073 for every XRP token once Flare Network launches in mainnet. As covered by U.Today previously, distribution will be organized in two stages. The first 15 percent of FLR will go into XRP holders’ wallets for one month upon the snapshot while the remaining 85 percent will be distributed in the coming months.

Then, Flare Finance, the first-ever decentralized financial protocol for Flare, will organize its own airdrop of DFLR tokens. The FLR snapshot for the airdrop will take place 30 days after Flare Network launches in mainnet, or in May or July of 2021.

DaoFlare (DFLR) tokens will find their way to FLR enthusiasts 7-10 days after this snapshot of balances taken by the administration of Flare Finance. The amount of DFLR will be calculated in accordance with a 1:172 ratio to FLR balances.

FLR and FXRP offer numerous ways to earn on passive crypto

Also, the XRP enthusiast explained the basics of “yield earning” for FXRP (another Flare asset) and FLR tokens.

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FLR holders can benefit from delegating them to signal (oracle) providers such as FTSO. Also, FLR tokens can be staked in the F-assets staking ecosystem in order to earn XRP, LTC, DOGE and BTC rewards.

FXRP holders will be able to earn FLR for F-asset minting; daily payouts are announced. Moreover, FXRP can be delegated as well. Signal providers will offer lucrative rewards calculated in FLR, XRP, DOGE and non-fungible tokens.

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Here’s how Ripple is expanding its footprint in Asia Pacific

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Ripple is partnering with another company in Singapore to expand its services for cross-border payments in the Asia Pacific. The new partnership is aimed at expanding RippleNet’s footprint in the region by offering the fundamental infrastructures for cross-border payments for banks.

Ripple had a plan to acquire a 40% stake in Tranglo company, and the new partnership follows that intention. The first country to receive the results of the new partnership in the Philippines, and new corridors will be launched after that.

Providing the Structure for Cross-Border Payments

There are many opportunities in the Asia Pacific area for companies that are solving payment challenges. Cross-border payments are among the essential needs of banks and citizens in that region because many of the people work abroad and help their companies by sending money from other countries.

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Ripple is among the most active blockchain companies that have a considerable focus on this area. The RippleNet solution has helped many big banks launch corridors for cross-border payments, and the new partnership with the Tranglo company is aimed to expand these services.

Tranglo will launch its first live On-Demand Liquidity (ODL) service on RippleNet in the Philippines in six months as the first result of the partnership with Ripple. More corridors will be introduced in the coming months. The Philippines is a very good target region for this partnership because this country is the third-largest remittance-receiving country in Asia.

Tranglo is among the best companies in East Asia, helping cross-border payments for citizens. It has supported existing RippleNet corridors in the Asia Pacific before. Companies like BKK Forex, DeeMoney, and Siam Commercial Bank use Tranglo services. These new connections help the company process more currencies in the region.

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Ripple execs believe the Singapore company can help them very well in expanding footprints in the Asia Pacific region. Brooks Entwistle, Managing Director of RippleNet in APAC and MENA, said:

“The strong traction with Tranglo in the past 6 months alone is testament to how we’re executing well on our shared mission to transform the cross-border payments experience in Asia Pacific, a region which is often tricky to navigate. Tranglo’s in-depth regional experience has been extremely instrumental in expanding RippleNet in Asia Pacific, and I’m excited to see us further collaborate to scale our partnership to new heights.”

New partners using the RippleNet solution for payments means more customers for Ripple. It always has been a great goal for the company, and it seems to be working based on numerous partnerships. All of these incidents can help the XRP coin, too, by increasing the demand.

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Ripple Forecast and XRP/USD Analysis October 21, 2021

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XRP/USD are trading at 1.1307 and continue to move within the growth and bullish channel. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $53,450,449,348. Moving averages indicate a short-term bearish trend for Ripple. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of the rise in the XRP rate in the market already from current levels. At the moment, we should expect an attempt to develop a small correction of the asset and a test of the support level near the 1.0785 area. Further, an upward rebound and a continuation of the rise of the cryptocurrency to the area above the level of 1.2505.

Ripple Forecast and XRP/USD Analysis October 21, 2021

In favor of raising the XRP/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal in favor of the growth of asset quotes will be a rebound from the lower border of the bullish channel. Cancellation of the option of raising the cryptocurrency will be the fall and closing of quotations below the level of 0.9505. This will indicate a breakdown of the support area and a continued fall in XRP/USD to the area below the level of 0.8505. Confirmation of the growth of the digital currency rate will be the breakdown of the resistance area and the closing of prices above the level of 1.2205, which will indicate a breakdown of the upper border of the downward correction channel.

Ripple Forecast and XRP/USD Analysis October 21, 2021

Ripple Forecast and XRP/USD Analysis October 21, 2021 imply an attempt to test the support level near the 1.0785 area. Where can we expect the cryptocurrency to continue to rise with a potential target at the level of 1.2505. An additional signal in favor of the growth of Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise quotes will be a fall and a breakdown of the 0.9505 area. In this case, we should expect a continuation of the decline in the rise in digital currency with a target below 0.8505.

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UAE exchange expands partnership with Ripple, for cross-border payments

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The Ripple-effect can be felt in various corners of the world including the United Arab Emirates. Al Ansari Exchange, the UAE-based foreign exchange and money transfer company announced the expansion of its partnership with Ripple to deliver cross-border payments.

In doing so, Al Ansari exchange will be leveraging RippleNet in conjunction with MoneyMatch, a leading money transfer technology company. RippleNet’s assistance will allow the exchange to carry same-day remittances along with support from MoneyMatch. The services will initially only offer Malaysian ringgit.

The CEO at Al Ansari exchange, Rashed A. stated,

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“Adopting this technology on the cloud via our partnership with Ripple and MoneyMatch is in line with our commitment to provide our customers with more flexible, faster, safer and more innovative money transfer solutions.

Together, we are carving new benchmarks in the industry, with an end goal of redefining customer experience and taking our services to the next level internationally.”

This has been in line with the exchange’s initiatives to contribute to UAE’s fintech agenda and will also play a role in the “Projects of the 50.” Ripple’s technology will gain more prominence in the region given Al Ansari was among the largest and longest-standing exchanges, focused on expanding their network.

According to Navin Gupta, Managing Director, South Asia, and MENA, at Ripple,

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“We view this partnership with MoneyMatch as a continuation of that ethos, and we’re excited to be partnering with them to improve cross-border payments in key remittance corridors with RippleNet Cloud.”

The General Manager of RippleNet, Asheesh Birla, had earlier noted that the APAC region remained Ripple’s busiest region of customer demand and transaction growth. It had earlier facilitated a corridor between India and UAE, given the high remittance volume. As UAE advances its fintech standing, Ripple has been contributing to change the face of cross-border payments.

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