Dear AAX Users,
AAX will support the Spark (SPARK) airdrop program for XRP holders. The details are as follows:
Deposit and withdrawal
XRP deposits and withdrawals will be suspended at 07:00 am UTC on Dec. 12, 2020(UTC+8). The trading function will not be affected.
We will take a snapshot of all XRP tokens held by AAX users at 08:00 am UTC on Dec. 12, 2020(UTC+8) to record users' XRP holdings. AAX will distribute SPARK tokens after the project has completed the SPARK token distribution to XRP holders. We will post a further announcement once the distribution is completed.
SPARK amount received by user A = total SPARK received by AAX for the airdrop * Proportion of XRP holdings of users
Proportion of XRP holdings = amount of XRP held by user A at the time of snapshot / Total XRP held by AAX at the time of snapshot.
15% airdrop will be released when the SPARK mainnet goes live (expected within 6 months). 85% airdrop will be released within 25-34 months. AAX will distribute it regularly after receiving the SPARK airdrop.
1.XRP tokens that are pending deposit or withdrawal at the time of the snapshot will not count towards your XRP balance. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the snapshot.
2.The snapshot will include XRP balances in spot wallets, future wallets and savings accounts. Minimum holding amount: 10 XRP (balances or trade orders ≥ 10 XRP) .
3.SPARK tokens will be distributed to the spot wallets.
4.For the trading and listing of SPARK on AAX, SPARK will go through the same strict listing review process as AAX does for any other coin/token. Supporting this airdrop does not guarantee the listing of SPARK. The default position we have is no listing.
5.After the snapshot is completed, the deposit and withdrawal functions of XRP will be restored.
For further information on how SPARK will be distributed to XRP holders, please refer to: Claiming Spark FAQ's , Further Information on The Spark Token Distribution.
We appreciate your cooperation and support.
4 December, 2020