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Ripple CTO Claims That You Lose Nothing If You Sell Now

Flare Airdrop News: The much anticipated Flare network token airdrop for Ripple’s native crypto, XRP holders finally happened after major digital asset exchanges support. However, Ripple’s CTO seems that he is not liking the airdrop distribution.

Ripple CTO not liking Flare Airdrop

David Schwartz, Ripple CTO in a tweet highlighted that the current Flare holding rules have left no incentive. While he promoted selling off their Flare tokens now. However, he stated that holders will lose nothing if they sell now.

He added that it’s true that they won’t get the subsequent airdrops. A receiver would get 100% of their value when they decide to sell their Flare since the buyer can easily wrap that Flare and get the airdrop.

However, Ripple CTO found it a very strange decision. He stated that there is only one way, to sum this up the network didn’t want to keep its commitment and just wanted to distribute just 15% of all it was promised.

Ripple CTO stated that he feel bad as he loved this project and wished the best for but in his honest opinion that Flare has leveraged the XRP community to develop. However, the network weakened its promises when it felt like not needing to anymore.

Schwartz highlighted that they state that XRP evolved and didn’t keep some promises which were made in the early days.

FLR price down by 45%

Flare price have dropped by more than 45% since the airdrop. FLR is trading at an average price of $0.0436, at the press time. Its 24 hour trading volume is up by 15% to stand at $83.3 million.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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