January 18, 2021

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Poloniex, KuCoin to Support XRP’s Flare Networks Snapshot and Airdrop

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Poloniex, KuCoin to Support XRP's Flare Networks Snapshot and Airdrop 2

Quick take:

  • The crypto exchanges of Poloniex and KuCoin have announced their support for the Flare Networks snapshot and airdrop
  • KuCoin and Poloniex join Binance in supporting the event
  • Coinbase is yet to provide any information regarding its support of the snapshot and subsequent airdrop

The two crypto exchanges of Poloniex and KuCoin have announced their support for the Flare Networks snapshot on the 12th December and the subsequent airdrop of Spark Tokens that will be announced later.

In the case of KuCoin, the exchange will suspend deposits and withdrawals at 06:00 (UTC + 8) on December 12th. This will provide a 2-hour window before the snapshot takes place at 08:00 UTC + 8(or 00:00 UTC) on the same day.

Poloniex announced their support for the snapshot event but the team is yet to clarify when or whether they will suspend deposits and withdrawals of XRP beforehand. They have however promised to provide updates in the days to follow.

Coinbase Unlikely to Support the Flare Networks Snapshot

Poloniex and KuCoin join Binance in making an official announcement regarding their support for the Flare Networks snapshot. The team at Flare Networks further notified the XRP and crypto communities, that Coinbase is yet to provide feedback on the snapshot. They added that it is highly unlikely that Coinbase will have enough time to prepare for the event next month.

Of the large exchanges the only one Flare has had no meaningful conversation with is @coinbase. At this point it is unlikely that they will have sufficient time to undertake the work necessary to support the distribution. 

Where to Participate in XRP’s Flare Networks Snapshot

XRP traders and investors now have a list of reputable crypto exchanges to choose from when participating in the snapshot on the 12th of December. According to the Flare Networks’ website, the following crypto exchanges and platforms are safe for XRP investors to participate in the event.

Exchanges: AltCoinTrader, AnchorUSD, Binance, bit4you, BitBay, bitbns, Bithumb, bitrue, Bitstamp, btc markets, Celsius, Coinfield, Coinone, CoinSpot, Crypto.com, eToro, eToroX, FobleGate, GateHub, GOPAX, korbit, KuCoin, Liquid, NDAX.IO, NEXO, Poloniex, Probit, Tokens.net, UpBit, Uphold, YouHodler.com, ZB.com

Wallets: Cobo Wallet, Exodus, Guarda, Ledger, XUMM, DCENT, Ellipal, Gatehub, SafePal, MetMask (for those willing to manually carry out the procedure)

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