Hugo Philion, CEO of Flare Networkss, said: “ Copper ’ s proven ability to assure the safety of all the tokens it looks after, coupled with their track record for launching their own innovative tech, made choosing Copper as an official custodian an easy choice. It also demonstrates our ability to quickly adapt and support the latest tokens on the market. Providing custody to the Spark token, which aims to scale up transaction value as well as volume through the power of smart contracts, is a perfect example of how Copper ’ s infrastructure can be used to facilitate the adoption of cryptocurrency at an institutional level. “ Underpinned by our industry-leading security, we recently launched a DeFi tool for institutions, called CopperConnect. The Flare Networks team share Copper ’ s innovative spirit for developing solutions which will pave the way for cryptoassets to enter the mainstream. This partnership follows Copper’s November launch of the first decentralised finance (DeFi) tool for institutional investors, Copper Connect.ĭmitry Tokarev, CEO of, said: “ We are proud to be supporting the launch of the pioneering Flare Networks, by providing highly secure custody of its native Spark token. The amount of Spark receivable will directly correlate with the amount of XRP held as at the snapshot, based on a formula devised by Flare Networks.Ĭopper’s role as a custodian will support Flare’s vision for the emergence of alternative Proof of Stake, or staking, mechanisms – which, in their current form, can scale up transaction throughput but cannot scale for value.įlare will benefit from Copper’s vast experience providing institutional-grade multi-party computation (MPC) cold storage and the business processes required by asset managers to safely acquire and store more than 150 digital assets. The amount of Spark to which an XRP holder is entitled will depend upon the 12/12/20 snapshot.
45 billion of these 100 billion tokens will be claimable by existing XRP holders, excluding Ripple Labs. Its native asset, the Spark (FLR) token, will be distributed to XRP holders over a 36-month period, based upon a snapshot taken at 12:00am UTC on Saturday 12 December 2020.Īs custodian, Copper will be responsible for securely holding Spark (FLR) tokens on behalf of the Flare Networks and the Flare Foundation.Īt the instantiation of the network – which is scheduled for launch between Q1 and Q2 2021 – 100 billion Spark tokens will be created. Oh my God yes! Oscar Mulero began his set at the UFO set at Dekmantel '18 with, the London-based digital asset infrastructure provider, today announced it will serve as an official custodian for Flare Networks.įlare is building the world’s first Turing-complete Federated Byzantine Agreement-based smart contract network. Gliss is huge and heavy, while Flare's sonic elements interact playfully and scatter as the piece progresses.
If those two are close, measured and controlled, the other tracks on the record demonstrate more freedom and abandon. The relationship between Circular and Hum is reminiscent of Sigha's 2016 New Puritan flip on the earlier offering of Puritan from 2012 with Circular presenting a tight, meditative loop in high-mid frequencies while Hum inhabits a similar space, only seemingly from a distance. This untitled record remains understated, playing with variations on a theme whereby the similarities exist seemingly to illuminate the differences between the tracks. Release date: 13th of July 2018 (vinyl & digital format)Īfter the celebrated Metabolism LP from last year, Sigha is back with a 4-track cut for TOKEN84.
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