CoinLoan Supports XRP Fork

UpdateDec 4, 2020

We’ve received multiple questions from XRP holders on whether CoinLoan supports the upcoming Ripple’s hard fork called Flare. The idea to carry it out arose from the desire of the XRP community to create a project with a decentralized policy. They also stood for the broader functionality of the new network. This August, the White Paper of the Flare network and Spark token was made publicly available.

On December 12th, the Spark token is formed and airdropped to all Ripple users according to their holdings. Here’s how CoinLoan supports the hard fork. On day X, 00:00 UTC, we will take a snapshot of users’ XRP balances to credit all tokens after the airdrop.

We remind you that CoinLoan has increased the earning rates for several assets to 5.2% APY. The renewed rate with maximum staking rewards goes up to 7.2% for XRP. If you have any questions from here, feel free to hit us at support@coinloan.io.

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